Mozambique’s gross domestic product in the third quarter, adjusted for inflation, was 3.2% larger than a year earlier the National Statistics Institute announced on Tuesday.
“The performance of economic activity in the third quarter of 2018 is thanks above all to the primary sector, which grew 6.3%,” the INE’s bulletin on the national accounts in the third quarter stated.
The increase was driven by the mining industry, with growth of 15.4%.
In the first half of the year, the year-on-year rate of growth in GDP had been 3.3%.
With one quarter left to go in 2018, the rate of growth is considerably slower than the government’s full-year projection, which since last month has been for 4.1%, down from its 5.3% forecast at the start of the year.
The World Bank is projecting growth of 3.3% this year, and the International Monetary Fund 3.5%.
The country’s GDP last year swelled 3.7%, following 3.8% growth in 2016.
Source: Lusa via Club Of Mozambique