The Institute of Statistics has published a new report which analyses the increase of various sectors of the economy in annual terms, compared to their performance in 2013.
The sectors of services and industry remain the main contributors in the economic growth even for 2014, announced INSTAT. In annual terms, the sector of services increased to 2.47%, from 0.08% in 2013, showing a new tendency of the market in the country, which has oriented towards IT services, financial services, ect.
In turn, the sector of industry increased by 2.4% in times when exports in this sector decreased significantly. In 2013, the sector of industry increased by 8% in annual terms.
The slight increase of the industry sector was affected by the reduction of the electrical energy exports and the decrease of oil and mineral prices in the international market. Following these developments, the extractive industry sector increased by 40% in the first quarter of 2014 and only 10% in annual terms in 2014.
As for the agricultural sector, the report of the INSTAT shows that it increased by 1.98% in 2014, compared to 2013. The best performance was noticed during the first semiannual of 2014 since exports increased by 35%.
The construction sector increased in proportion to the capital investments in 2014, according to the report. In the end of the past year, the increase of public investments has a positive effect in the positive performance of the construction sector which increased by 10%.
News source: ATA
Photo credits: European Union
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