GDP estimated 5.0 per cent in First Advance Estimates of National Income 2019-20

In accordance with the release calendar of National Accounts, the First Advance Estimates of Gross Domestic Product (GDP) was released by the National Statistical Office (NSO) under the Ministry of Statistics and Programme Implementation on Tuesday, 7^th January 2020, the corresponding estimates of Expenditure components of GDP was implemented along with the First Advance Estimates of National Income for the financial year 2019-20.

The forecasted real GDP growth for 2019-20 is 5.0 per cent as per the First Advance Estimates report, which is a decline as compared to the growth rate in 2018-19 of 6.8 per cent. The decline in Manufacturing Sector has mainly attributed to the Real GDP growth rate for 2019-20, as from a 6.2 per cent growth rate in 2018-19, the sector is estimated to grow at 2.0 per cent as per the First Advance Estimates. The lowest growth rate as per the estimates of 2019-20 is of the Mining and Quarrying sector with 1.5 per cent, followed by the Manufacturing sector, Agriculture Forestry and the Fishing sector at 2.8 per cent and the construction sector with 3.2 per cent respectively. The highest estimated growth rate of 9.1 per cent in the combine ‘Public Administration, Defence, and other services’ sector.

Month: Current Affairs - January, 2020