Year-on-year headline inflation rate at the national level slowed down to 2.4 percent in August from 2.6 percent in July due to the slower annual price hikes of all the commodity groups except for clothing. Excluding selected food and energy items, core inflation rate slackened to 2.9 percent in August from 3.0 percent in July.
Gross National Product (GNP) was recorded at $18,832M (at constant 1985 prices) during the first quarter of 2007. The figure represents a 6.64% increase from last year’s first quarter GNP. Strong showings from the Agriculture, forestry and fishery sector, industrial sector and service sector contributed to the good performance. Net factor income from abroad was also higher by 3.83% compared to last year’s figure.
Gross Domestic Product (GDP) grew at a record high of 6.9% during the first quarter of 2007. The figure is the country’s highest since the first quarter of 1990. Economic growth outpaced population as per capita GDP grew at a rate of 4.8% from last year’s 3.6%. Low inflation, strong currency, government’s pump priming activities, and preparations for the May elections contributed to the strong showing.
Gross National Product (GNP) was recorded at $18,832M (at constant 1985 prices) during the first quarter of 2007. The figure represents a 6.64% increase from last year’s first quarter GNP. Strong showings from the Agriculture, forestry and fishery sector, industrial sector and service sector contributed to the good performance. Net factor income from abroad was also higher by 3.83% compared to last year’s figure.
Gross Domestic Product (GDP) grew at a record high of 6.9% during the first quarter of 2007. The figure is the country’s highest since the first quarter of 1990. Economic growth outpaced population as per capita GDP grew at a rate of 4.8% from last year’s 3.6%. Low inflation, strong currency, government’s pump priming activities, and preparations for the May elections contributed to the strong showing.
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