The country’s real Gross Domestic Product (GDP) grew by 5.9 per cent in the third quarter of 2023, compared to 4.3 per cent in the corresponding quarter of 2022.
This growth was mainly supported by a rebound in agricultural activities that had contracted in 2022.
During the review quarter, Agriculture, Forestry, and Fishing activities’ Gross Value Added rose by 6.7 per cent compared to a contraction of 1.3 per cent in the third quarter of 2022 owing to favourable weather conditions that characterized the better part of 2023.
Fruit exports rose by 84.3 per cent from 32,388.1 metric tonnes in the third quarter of 2022 to 59,684.5 metric tonnes in the period under review. Similarly, vegetable exports and tea production rose by 35.4 per cent and 28.0 per cent to stand at 20,427.1 metric tonnes and 138,771.6 metric tonnes, respectively, in the third quarter of 2023. Intake of milk by processors also increased.
However, production of sugarcane witnessed a decrease in the third quarter of 2023, with sugarcane deliveries declining by 55.1 per cent from 1,944.7 thousand metric tonnes in the third quarter of 2022 to 874.0 thousand metric tonnes during the review period.
Manufacturing
Manufacturing sector grew by 2.6 per cent in the third quarter of 2023 compared to a growth of 1.8 per cent in the corresponding quarter of 2022. In the manufacture of food products, growth was mainly supported by processing of dairy and tea products.
