INS: GDP shrinks 0.2% year-on-year in Q4 [Upd 1]

The real gross domestic product (GDP) -variables seasonally adjusted - contracted 0.2 % in Q4 of 2023 compared to Q4 of 2022 (year-on-year). Meanwhile, it posted a 0.5% rise on Q3 of 2023, it emerges from the preliminary estimates of quarterly national accounts published Thursday by the National Institute of Statistics (French: INS) Overall, and based on an initial estimate, the national economy is estimated to have grown 0.4% during 2023. Excluding agriculture, estimates put the annual GDP at 1.6%. In Q4, a boost was given by trade services, notably hotel industry and catering (+8.6%). Concurrently, a steep decline for agriculture driven by difficult weather conditions over three consecutive years seems to be offset by a decreasing value added slowing in Q4 (-11.2% against -15.6% in Q3). Source: Agence Tunis Afrique Presse