Mozambique: GDP rose 7.5 percent in third quarter of 2007

7 January 2008

Maputo, Mozambique, 07 Jan – Mozambique’s Gross Domestic Product (GDP) posted growth of 7.5 percent in third quarter of 2007, according to figures from the National Statistics Institute (INE), cited by Mozambican newspaper Notícias.

GDP growth was driven by the performance of the construction sector (54.1 percent), financial services (21.6), public administration (16.5), transport and communications (12.9) and agriculture (9.9 percent).

Also according to INE, the Consumer Price Index (CPI) for the city of Maputo, the official indicator of inflation in Mozambique, rose 1.88 percent in November, which contributed to annual inflation totaling 9.51 percent, after 9.04 percent in the previous month (October).

The behavior of the prices of foodstuffs was a determining factor for monthly inflation, with significant rises in the price of bread (0.36 percent), horse mackerel (0.33 percent), tomatoes (0.25 percent), live chicken (0.17 percent) and coconut (0.1 percent).

Amongst the non-food category, the rise in the price of lighting oil made a contribution of 0.06 percentage points. (macauhub)