According to the advance estimate, real Gross Domestic Product grew by an annual rate of 1.6 percent during the fourth quarter of 2021, up from the 0.4 percent rate recorded in Q3 2021. Compared to the third quarter of the same year, real GDP increased by 0.7%.
The acceleration in real GDP during the fourth quarter primarily reflected an upturn in extraction sectors (mining, oil and gas); while activity remained sluggish in manufacturing, moderate in services and decreased in agriculture.
For the full year of 2021 GDP growth rose to 3.1 percent. This annual technical gain follows the pandemic-induced contraction of -8.7 percent recorded in 2020.