Sunday, January 17, 2021

Aviation sector contribution to GDP slumps by 38.86%

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The Gross Domestic Product report released by the National Bureau of Statistics has shown that air transport under the transportation and storage sector contracted by 38.86 per cent in the third quarter of 2020.

The subsector contracted by 57.38 per cent in the second quarter of the year and by 15.23 per cent in the second quarter of 2019.

The transportation and storage sector comprising road transport, rail transport and pipelines, water transport, air transport, and transport services experienced a growth of 35.06 per cent in nominal terms (year-on-year) as it sought to gradually recover from the restricted movements of passenger and goods.