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Growth Performance
Net Exports shaved 0.2ppt from GDP, significantly lower
1Q17 GDP growth came in at 6.4%, lower than expecta- compared to 5-year average of -1.5%. In 2016 alone, net
tions, following high base effects of election-related spend- exports shaved off 4.7ppt from GDP.
ing during 1Q16 (6.9%).
GDP still grew at a healthy pace despite missing the gov-
ernments FY2017 target of 6.5%-7.5% and market con- Figure 2. GDP Contribution: Supply Side
sensus of 6.7%. 9.0%
11% 5.0%
9%
7% 3.0%
5%
3%
1.0%
1%
-1%
-1.0%
-3% 2011 Q1 2012 Q1 2013 Q1 2014 Q1 2015 Q1 2016 Q1 2017 Q1
1
Economic Report
2
Economic Report
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