PHILIPSBURG:--- The Department of Statistics has released preliminary estimates of economic growth in 2013 as measured by the Gross Domestic Product by production at 1.0% in real terms.
Compared to 2012, when final estimates show growth of 1.4%, the 2013 results confirm a deceleration of economic activities particularly with a slower pace growth in the government sector and decrease in gross value added of the Financial intermediation sector.
Economic activities increased by 3.5 percent in nominal terms from about Ang. 1,764 in 2012 to Ang. 1,825 million in 2013. Overall 10 of the 15 industries recorded growth in gross value added in 2013. The highest growth rates were recorded in the Construction (8%), Trade (6.5%) and Real estate, renting & Business activities industries (7.8%).
The Construction industry saw a major improvement in 2013, with a single-digit increase in gross value added in contrast to the negative development experienced in 2012.
Although the Trade and 'Hotels & Restaurants' industries saw growth in value added in 2013, this was less pronounced than in 2012.
For a breakdown of nominal figures by industry visit www.stat.gov.sx.
