Mozambique’s Gross Domestic Product (GDP) grew 1.97% in the second quarter of this year, compared to the same period in 2020, according to data from the National Statistics Institute (INE).
It is the second consecutive quarter of growth, after a 0.12% rise in the first quarter of 2021, signaling a recovery from the crisis caused by the covid-19 pandemic.
“The economic activity good performance in the second quarter of 2021 is attributed in the first place to the tertiary sector (services), which grew by 2.82%, with greater emphasis on the Hotel and Hospitality sectors with a positive variation of 4.03%”, notes INE.
The leap also reflects the fact that this has so far been one of the sectors most punished by the effects of the pandemic.
All branches of activity recorded growth in the second quarter, with the exception of electricity and water supply, which fell by 9.77%.
In accumulated terms, the Mozambican GDP grew by 1.05% in the first half of 2021.
The nation’s State Budget for 2021 forecasts economic growth of 2.1%, but the document was approved in late 2020, three months prior to Total’s gas project in the north of the country being suspended indefinitely due to insecurity in the northern province of Cabo Delgado.