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Home Africa

Mozambique: GDP growth in Q3 slows to 3.2%, even as mining output up 15% – INE

FurtherAfrica by FurtherAfrica
November 23, 2018
in Africa, Economy, Government, Inflation, Mining, Mozambique
Reading Time: 1 min read
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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.

 

In the first nine months of this year, GDP was 3.3% larger than in the same period of 20176.

“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

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Tags: economic activityFeatureGDPgovernment’s full-year projectionINEInternational Monetary Fundmining industrymining outputMozambiqueMozambique’s gross domestic productNational Statistics InstituteWorld Bankмозамбикموزمبيقモザンビーク莫桑比克
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