Real GDP growth in the first quarter of 2024 compared to the same period last year stood at 4.7 percent. Seasonally adjusted data series show a GDP growth of 0.8 percent in the first quarter of 2024 compared to the previous quarter. In March 2024, there was a decline in the physical volume of industrial production by 5.8 percent compared to March 2023. The mining sector saw an increase of 6.1 percent, while the manufacturing sector experienced a decline of 6.6 percent. The sector of electricity, gas, steam, and air conditioning supply recorded a decrease of 8.0 percent.
In March 2024, retail trade turnover in constant prices increased by 6.6 percent compared to the same period last year. The average gross earnings in March 2024 amounted to 96,913 dinars, showing a real increase of 8.0 percent compared to the same period last year. The annual inflation rate in March 2024, measured by the consumer price index, was 5.0 percent.
