GDP grows by 3.3% during the year to March 2018
23 August 2018
Real GDP growth picked up during the first quarter of 2018, recording year-on-year growth of 3.3%, compared to 2.4% in Q4 2017. The upturn is due to the effect of the BCL mine closure in October 2016 dropping out of the y-o-y growth calculations. Consequently, the mining sector recorded improved y-o-y growth of minus 0.3%, its highest level since Q1 2015. The non-mining private sector (NMPS) recorded y-on-y growth of 3.6%, down from 4.7% in the previous quarter. This decline is driven mainly by the fall in the growth of wholesale trade, which includes diamond trading activities.