The Gross Domestic Product (GDP) grew 1.9% from the second to the third quarter of 2023, according to the National Accounts of the National Statistics Institute (INE), released this Tuesday, 2
In year-on-year terms, according to the document, the third quarter of 2023 recorded GDP growth of 1.4%, compared to the same period in 2022. The activities that contributed positively to the variation in GDP in the third quarter of 2023 in relation to the second quarter of 2023 were oil extraction and refining with 0.55 percentage points, diamond extraction 0.48, fishing 0.39, trade 0.25, manufacturing products 0.11, real estate services and rental with 0.10 .
With regard to the sectoral analysis, the area of agriculture and forestry, with the gross value added of agriculture, had a growth of 2.4%, in the third quarter of 2023, in relation to the same quarter of the previous year, contributing positively in 0 .23 percentage points in the total change in GDP. This variation was due to the general increase in the production of agricultural crops of around 4%, given that agriculture represents 96% of the weight in the sector in question.
Regarding the fishing sector, gross value added grew by 15.8% in the third quarter of 2023, compared to the same quarter of the previous year, contributing positively by 0.38 percentage points to the total variation in GDP.
This growth was due to the increase in the results of the effects that occurred in the type of industrial, semi-industrial, artisanal and aquaculture fishing, such as the resumption of demersal trawling vessels following the closure period, improvement in the sampling and collection process of statistical data on the main landing points, the expansion of the number of projects in 11 provinces of the country.
BY: Francisca Parente
