Mozambican economy grows 8.3 pct in 4th quarter of 2012 and 7.4 pct for the year

26 March 2013

The Mozambican economy posted growth of 8.3 percent in the fourth quarter of 2012 according to preliminary estimates from the National Statistics Institute (INE) that also said Gross Domestic Product (GDP) had grown 7.4 percent in the whole year at 2003 constant prices.

INE also said that the mining industry, construction and transport and communication were the sectors that contributed most to GDP growth by growing 35.2 percent, 16.4 percent and 12 percent, respectively.

Meanwhile the Economic Climate Indicator improved over the fourth quarter of 2012 against the previous quarter, driven by the accommodation and restaurant, transport, industrial and retail sectors.

In the fourth quarter of 2012 prices in Mozambique rose 2.45 percent driven by rises in the country’s three main cities, Maputo, Beira and Nampula with 2.71 percent, 2.25 percent and 2.17 percent, respectively.

According to INE, Mozambique ended 2012 with accumulated inflation of 2.02 percent, which was the lowest rate in the last few years. (macauhub)