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Gross domestic product growth |
In the year 2001, the GDP growth stood at 1.56% according to preliminary estimations of the National Statistics Administrative Department (DANE). In the economic activity, the sectors that presented outlined annual growths were: transport and communication (3.47%), construction (3.17%) and commerce (2.05%). Equally other sectors presented annual positive growths: electricity, gas and water (1.91%), agricultural (1.51%), social services (1,47%) and financial establishments (0.19%). The construction sector recovered its trend of deterioration presented in previous years, registering a positive growth rate for the year 2001. The agricultural, trade and financial establishments sectors showed positive growths for 2001, but were 3.5, 8.4 and 1.0 percentage points lower respectively than the ones registered in 2000. On the other hand, the sectors that registered negative annual growths were those of exploitation of mines and quarries and manufacturing industry, -4.04% and -0.76% respectively, being the industrial sector the one that presented a major deterioration growing 10.5 percentage points less than the one registered the previous year.
REAL GDP GROWTH BY SECTOR %
| SECTOR | 1998 | 1999 p | 2000 p | 2001 p |
| AGRICULTURE
AND LIVESTOCK, FISHING, FORESTRY AND HUNTING |
0.04 | -0.05 | 5.03 | 1.51 |
| MINING AND QUARRY EXPLOITATION | 15.59 | 18.47 | -10.04 | -4.04 |
| ELECTRICITY, GAS AND WATER | 1.76 | -4.18 | 0.70 | 1.91 |
| MANUFACTURING INDUSTRY | -0.24 | -8.55 | 9.73 | -0.76 |
| CONSTRUCTION | -7.23 | -27.00 | -2.85 | 3.17 |
| COMMERCE, REPAIRS, RESTAURANTS AND HOTELS | -1.60 | -15.44 | 10.46 | 2.05 |
| TRANSPORTATION, STORAGE AND COMMUNICATIONS | 2.49 | -1.92 | 2.23 | 3.47 |
| FINANCIAL, INSURANCE, REAL STATE AND SERVICE INSTITUTIONS | -1.28 | -4.94 | 1.15 | 0.19 |
| SOCIAL SERVICES, COMMUNAL AND PERSONAL | 1.81 | 3.25 | -0.92 | 1.47 |
| Minus: Imputed banking services | -7.27 | -19.54 | 0.29 | -6.38 |
| Subtotal value added | 0.84 | -3.31 | 2.76 | 1.32 |
| Plus taxes except IVA | 3.21 | -0.47 | -2.10 | 1.06 |
| Minus: Subsidies | 18.72 | 2.96 | 15.01 | 18.11 |
| Plus non deducible IVA | -5.27 | -20.13 | 5.32 | 5.88 |
| Plus: Duties and taxes on imports | -1.33 | -25.70 | 9.85 | 15.82 |
| GROSS DOMESTIC PRODUCT | 0.57 | -4.20 | 2.74 | 1.56 |
p : Provisional.
Source: National Administrative Department of Statistics(DANE).
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