Mozambican business turnover grows by 28 percent in first quarter

19 July 2006

Maputo, Mozambique, 19 July – The volume of business of Mozambican companies increased 28 percent in the first three months of 2006 compared to the same period last year and was mainly driven by the tourism and transport sectors, according to official figures.

Maputo’s National Statistics Institute (INE) has compiled an index of business volume based on a survey of leading national companies that rose to 198.4 points in March, maintaining the growth trend recorded in the first quarter of 2005 when the index stood at 155 points, with 2003 as the base year.

Between January and March, the main increases were in tourism, 45 percent, transport and communications, 38 percent, and industry, 35 percent.

Restaurants and services also showed double-digit increases and only trade decreased, 1.7 percent, in comparison to the previous year.

Business volume per worker rose an average 32 percent in sectors studied by the INE, with transport displaying growth of 46 percent and tourism 43 percent.

Wages rose 12 percent in the first quarter, giving increased contributions of 22 percent in services and restaurants, with transport and communications registering rises of above 19 percent.

Trade again registered the worse performance, falling 10 percent to 147 points on the index.

Average remunerations dropped 6 percent, mainly due to the transport and communication sectors and in contrast to the general increase of 62 percent. (macauhub)