Perspectives on Agriculture Performance in Q4 of 2023

25 March 2024, BFAP

The release of the country’s GDP results for the final quarter of 2023 brought several surprises, which BFAP unpacks in the brief linked below. For the total economy, GDP increased by 0.1% in the fourth quarter of 2023. For the full year 2023, GDP expanded by 0.6% in real terms. The big surprise, however, was that agriculture contracted by 12.2%. While BFAP has long since projected a decline, we believe this contraction was more in the region of 3-5%.


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