The provisional estimate of the Monthly Index of Economic Growth (MIEG) for October 2025 stands at 3.8%, marking an increase from 3.0% in October 2024. This uptick suggests a positive trajectory in economic output year-on-year, yet the underlying sectoral dynamics reveal a nuanced picture of growth resilience and sectoral shifts.
Agricultural activity, traditionally a vital component of the economy, grew by 0.9% in October 2025, down from 2.1% a year earlier. This slowdown indicates that the agricultural sector’s contribution to overall growth has moderated, reflecting potential challenges such as resource constraints, weather variability, or shifting investment priorities. Nonetheless, agriculture contributed 1.3 percentage points to the total 3.8% growth, underscoring its continued role, albeit less pronounced than last year.
Industry experienced a notable rebound, expanding by 3.0% compared to a modest 0.4% in October 2024. This marked improvement signifies a strengthening manufacturing and industrial sector, likely driven by increased domestic demand, infrastructure investments, or export performance. Industry’s contribution of 28.7% to the overall growth underscores its importance as a growth engine, with its accelerated expansion reflecting a shift towards more robust industrial activity.
The services sector remains the dominant driver of economic growth, recording a 5.5% increase in October 2025, slightly down from 5.6% in the previous year. Despite the marginal deceleration, services continue to contribute a substantial 74.7% to the overall growth figure. The sector’s resilience is largely attributable to subsectors such as Communication and Wholesale and Retail Trade, which have demonstrated sustained momentum. This underscores the sector’s vital role in supporting consumer confidence, digital transformation, and trade facilitation.
In sum, the October 2025 data reveals a mixed but generally positive economic landscape. While agriculture’s subdued growth highlights ongoing sectoral challenges, the robust performances of industry and services suggest a diversified and resilient economy. Policymakers should focus on supporting agricultural productivity and fostering industrial innovation to sustain this growth momentum. Continued emphasis on services, especially digital and trade-related subsectors, will be crucial to maintaining the overall upward trajectory.
As macroeconomic conditions evolve, monitoring sectoral contributions will remain essential for crafting targeted policies that foster balanced and sustainable growth in the coming months.
