africa Economy Government Mozambique

Mozambique’s economy grows 2.3% in the second quarter of 2019

Mozambique’s Gross Domestic Product grew by 2.3% in the second quarter of 2019 compared to the same period of 2018, according to the National Statistics Institute (INE).

The rise in GDP was primarily due to the tertiary sector, which grew by 3.5%, most notably transport, storage, ancillary transport activities, information and communication.

The secondary sector comes in second place with growth of 2.1%, with contributions from manufacturing industry of 3.7%, followed by construction with around 3.0%.

The primary sector fell by 0.6%, with agriculture, livestock, hunting, forestry, logging and related activities falling by 0.05% and mining and quarrying by 3.5%

Agriculture, livestock, hunting, forestry, logging, related activities and fishing accounted for 24.7% of Gross Domestic Product in the period, followed by trade and repair services with 9.0%, followed by manufacturing, with a weight of 7.5%.

Mining accounted for 6.5% of GDP and public administration, education, real estate rentals and business services and fishing and aquaculture accounted for 7.8%, 5.6%, 4.7% and 1.6%, respectively.

Source: Macauhub

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