National Accounts – June 2019 Issue

GDP at market prices in 2018 grew by 3.8% and GVA at basic prices by 3.6%, same as in 2017. Excluding sugar, the GVA growth rate was 3.7%, same as in 2017.

GDP at market prices is forecasted to grow by around 3.9%, higher than the 3.8% growth in 2018. In light of information gathered on key sectors of the economy, performance observed in the first quarter of 2019 and taking into consideration policy measures announced in the budget 2019/2020, GVA at basic prices is expected to grow by 3.6%, same as in 2018.

Final consumption expenditure of households and government would grow by 3.1% in 2019 compared to 3.5% in 2018. Gross Domestic Savings (GDS) as a percentage of GDP at market prices would be 10.8 in 2019, higher than the figure of 10.1 in 2018.

Investment (GFCF) would grow by 6.6% in 2019, after a growth of 10.9% in 2018. Exclusive of aircraft and marine vessel, the growth would be 6.3% compared to 12.2% in 2018.

Investment rate, defined as the ratio of GFCF to GDP at market prices would attain 19.3% in 2019 from 18.7% in 2018.