In 2024, the national economy recovers moderately with growth at 3.5%, after 3.3% in 2023, in an uncertain international context, marked by persistent geopolitical tensions and volatility in commodity prices.
On the supply side, the primary sector accelerated to 3.6% from 2.3% in 2023, driven by the good performance of industrial and export agriculture by 9.5% and the dynamism of livestock farming by 4.8%.
The secondary sector remains timid with limited growth of 1.7%, a slight improvement, but slowed down by the decline in hydrocarbon extraction activities.
The tertiary sector remains the main driver of growth, with growth of 4.2%, supported by information and communication services, and financial services.
On the demand side, private final consumption and public investment are driving the growth dynamic. Final consumption increased by 3.5%, driven by its private component.
Investment increased by 3.8%, driven by the strong recovery in public investment. Exports of goods and services fell by 5.1% and imports decreased by 2.9%.
The foreign trade balance contributed negatively by 0.2 points to GDP growth, deteriorating by 0.1 points compared to 2023. Looking ahead to 2025, the domestic economy is expected to show resilience, amid slowing global growth and declining commodity prices.
The growth of the national economy is projected to be around 4% in 2025.