The Federal Authority for Competitiveness and Statistics revealed yesterday that the value of the country's GDP at current prices during the first quarter of 2019 amounted to 376 billion and 982 million dirhams, an increase of 2.8% compared to the same quarter of 2018.
According to recent statistics, non-oil GDP at current prices amounted to 282 billion and 830 million dirhams, or 75.02%, while the oil output is 94 billion and 152 million, or 24.98%.
She pointed out that the total output of the non-financial projects sector (excluding the oil sector) amounted to 219 billion and 676 million dirhams, while the GDP of the extractive industries sector, including crude oil and gas, 94 billion and 152 million dirhams.
The output of the financial and insurance activities sector amounted to 37 billion and 159 million dirhams, while the output of the activities of public administration, defense and compulsory social security amounted to 25 billion and 995 million dirhams.
According to the report of the Authority, the contribution of the non-financial projects sector (excluding the oil sector) to the GDP at constant prices during the first quarter was 58.3%, compared to 25% for the extractive industries including oil and natural gas, and 9.9% for financial and insurance activities. 6.9% for public administration, defense and compulsory social security activities. The growth rate in the GDP of extractive industries, including crude oil and natural gas, reached 11.4%, while the growth rate in the output of financial and insurance activities was 3.3%, the growth rate in the output of public administration, defense and compulsory social security activities was 3.2%, while the output of the sector decreased. Non-financial projects excluding oil sector increased by 0.7%.
At the same time, the country's gross domestic product (GDP), at constant prices, stood at 369.42 billion dirhams, a growth of 3.7% compared to the same quarter of 2018.