The Department of Statistics has released the quarterly estimates of Gross Domestic Product (GDP) for the fourth quarter of 2023, showing a growth rate of 2.3 percent at constant prices compared to the fourth quarter of 2022.

Thus, the growth rate for the year 2023 compared to 2022 at constant prices is estimated at 2.6% (according to quarterly estimates).

As for estimates for each sector, preliminary estimates indicate that the majority of economic sectors achieved growth during the fourth quarter of 2023 compared to the fourth quarter of 2022.

Extractive industries recorded the highest growth rate during this period at 9.8 percent, contributing 0.22 percentage points to the achieved growth rate. This was followed by the agriculture, hunting, forestry, and fishing with a growth rate of 3.7 percent, contributing 0.23 percentage points, then the social and personal services sector at 3.6 percent contributing 0.30 percentage points, and finally construction - which grew at a rate of 3.5 percent contributing 0.11 percentage points to the achieved growth rate.

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