The av­er­age eco­nomic growth rate in the last five years (2010-2014) was 6.46 per­cent

Bhutan Times - - Home - Sonam Pen­jor

T he Gross Do­mes­tic Prod­uct (GDP) in con­stant prices of 2014 was Nu. 55,478.14 mil­lion which has grown by 5.46 per­cent from Nu. 52,606.45 mil­lion in 2013. The av­er­age eco­nomic growth rate in the last five years (20102014) was 6.46 per­cent.

Ac­cord­ing to the Na­tional Ac­counts Statis­tic 2015 re­port main­tained by the Na­tional Sta­tis­tics Bureau states that, ho­tel and restau­rants with a growth of 17.38 per­cent, the Min­ing Sec­tor with 17.01 per­cent and whole­sale and re­tail trade with 13.65 per­cent per­formed rel­a­tively bet­ter amongst sec­tors in 2014.

But elec­tric­ity and wa­ter sup­ply which had a grown of 10.76 per­cent in 2013 slipped to neg­a­tive 3 per­cent in 2014, states the re­port.

Whereas the re­port also shows that, the nom­i­nal GDP in­creased to Nu.119, 545.75 mil­lion in 2014 from Nu. 105,378.35 mil­lion in 2013 which is an in­crease of 13.44 per­cent.

Ac­cord­ing to the re­port, the over­all growth of GDP was 2.06 per­cent in 2013 but the GDP growth has in­creased to 5.17 per­cent in 2014.

The re­port also shows that the GDP by eco­nomic ac­tiv­ity at cur­rent prices that is from 2010-2014. The agri­cul­ture, live­stock and forestry sec­tors con­trib­uted high­est per­cent to GDP growth for the na­tion which con­trib­uted to 16.10 per­cent in 2013 and it has in­creased to 16.77 per­cent in 2014. Dur­ing the year 2014, the to­tal GDP con­trib­uted by crops was 10.06 per­cent, in the same year, live­stock con­trib­uted to 4.07 per­cent and forestry and log­ging con­trib­uted 2.64 per­cent in the same year to GDP growth.

Ac­cord­ing to the re­port, an or­ange which is the high value crops con­trib­uted the high­est; the gross value of out­put was Nu. 3,876.85 mil­lion in 2014 which was in­creased from 1,882.38 mil­lion in 2013. Fol­lowed by paddy which con­trib­uted the sec­ond high­est which ac­counts for Nu. 2,730.20 mil­lion in 2014. But mil­lets con­trib­ute the low­est of Nu. 37.46 mil­lion in 2014.

Whereas, the share of live­stock to the GDP re­mained more or less the same as the pre­vi­ous year at around four per­cent be­cause it noted an in­crease of 2.31 per­cent in 2014 from 2.04 per­cent in the pre­vi­ous year, states the re­port.

And the gross value added con­tri­bu­tion from forestry and log­ging sec­tor at cur­rent prices recorded Nu.3, 152.09 mil­lion. This was an in­crease of 4.10 per­cent from Nu. 3,027.84 mil­lion in the pre­vi­ous year.

This was fol­lowed by con­struc­tion sec­tor; it con­trib­uted 15.46 per­cent in 2014 to the GDP growth. The con­struc­tion sec­tor reg­is­tered a growth of 3.67 per­cent in 2014 which was in­creased from Nu. 17,826.07 mil­lion in 2013 to Nu. 18,479.70 mil­lion in 2014. How­ever, the share to the GDP de­clined by more than one per­cent from 16.92 per­cent in 2013 to 15.46 per­cent in 2014, states the re­port.

Mean­while, the re­port states that pri­vate so­cial and recre­ational ser­vices con­trib­uted low­est per­cent­age in the GDP growth which con­sti­tutes of 0.39 per­cent in the GDP growth in 2014.

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