The oil sector surged 25.89 percent year-on-year, following an upwardly revised 3.53 percent increase in the previous period. The country produced 2.03 million barrels of crude oil per day, up from 1.61 mbpd a year earlier. As a result, the oil sector accounted for 10.04 percent of GDP compared to 8.09 percent a year earlier. The non-oil sector declined 0.76 percent, compared to a 0.44 percent growth in the previous period.
Output expanded faster for mining and quarrying (25.44 percent vs 3.51 percent); agriculture (3.06 percent vs 3.01 percent) and recovered for food and accomodation services (0.18 percent vs -4.05 percent) and arts, entertainment and recreation (0.44 percent vs -0.62 percent). In addition, output growth slowed for: electricity, gas, steam and air conditioning supply (11.46 percent vs 35.50 percent) and water supply, sewerage, waste management and remediation (0.33 percent vs 3.45 percent). In contrast, contraction was observed for: manufacturing (-2.85 percent vs 0.64 percent in Q2); construction (-0.46 percent vs 0.13 percent); internal trade (-1.74 percent vs -1.62 percent); transportation and storage (-6.25 percent vs -6.18 percent); information and telecommunication (-4.48 percent vs -1.15 percent); financial and insurance (-5.96 percent vs 10.45); real estate activities (-4.12 percent vs -3.53 percent); public administration (-0.72 percent vs 1.63 percent); education (-1.22 percent vs -1.34 percent) and social services (-0.85 percent vs -0.96 percent).
On a quarterly basis, the economy expanded 8.97 percent, following an upwardly revised 3.40 percent rise in the previous quarter.