Resource information
Real gross domestic product (GDP)
expanded by 6.7 percent in 2013, a modest deceleration from
the 7 percent recorded in the previous year, but well above
the average 4.9 percent rate of growth recorded over the
last ten years. The economy benefited from strong growth in
the agriculture (rebounding from last year's drought),
mining and services sectors, which largely offset weaker
activity in fishing activity. A continuation of these
relatively robust growth conditions is anticipated over the
next three years, as the economy benefits from a continued
expansion of mining output, particularly of iron ore. In
2015 the largest contributions to growth are projected to
come from trade, livestock and iron, although the fast
growing sub-sectors are expected to be copper, gold and
manufacturing. Following the macroeconomic analysis (section
B) this economic update includes a section on partnership
agreements and sectoral developments (section C), as well as
two special sections on inclusive growth, wealth accounting
(section D), economic diversification and efficiency in
natural resource use (section E). Section F concludes the
document with some indicative policy recommendations.
