Mozambican economy grows 6.2 pct in first quarter

11 July 2012

The Mozambican economy posted growth of 6.2 percent in the first quarter of 2012 according to preliminary estimates for Gross Domestic Product (GDP) at 2003 constant prices published by the Mozambican National Statistics Institute (INE).

According to the statement issued by INE, GDP growth posted in the first quarter represents a slowdown of economic activity of 1.7 percentage points as compared to the same three-month period of 2011.

Improved economic performance in the period is mainly due to the secondary sector, which grew 8.5 percent, notably the electricity and water sector, followed by construction with 11.2 percent and 10.5 percent growth, respectively.

This was followed by the primary sector, which posted growth of 5.8 percent driven by the mining industry, with growth of 25.4 percent, and the tertiary sector, which posted growth of 4.6 percent, driven in part by the transport and communication sector, which grew 7.0 percent. (macauhub)