Real gross domestic product (GDP)expanded by 6.7 percent in 2013, a modest deceleration fromthe 7 percent recorded in the previous year, but well abovethe average 4.9 percent rate of growth recorded over thelast ten years. The economy benefited from strong growth inthe agriculture (rebounding from last year's drought),mining and services sectors, which largely offset weakeractivity in fishing activity. A continuation of theserelatively robust growth conditions is anticipated over thenext three years, as the economy benefits from a continuedexpansion of mining output, particularly of iron ore. In2015 the largest contributions to growth are projected tocome from trade, livestock and iron, although the fastgrowing sub-sectors are expected to be copper, gold andmanufacturing. Following the macroeconomic analysis (sectionB) this economic update includes a section on partnershipagreements and sectoral developments (section C), as well astwo special sections on inclusive growth, wealth accounting(section D), economic diversification and efficiency innatural resource use (section E). Section F concludes thedocument with some indicative policy recommendations.
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