Mozambique’s economy grows 7.0 pct in 4th quarter of 2014

16 March 2015

The Gross Domestic Product of Mozambique in the fourth quarter of 2014 grew by 7.0 percent compared to the same period 2013, reported the National Statistics Institute (INE).

INE also said that GDP refers for the third quarter was revised upwards by 0.2 percentage points to 7.6 percent, which means that in the fourth quarter the Mozambican economy slowed by 0.6 percentage points, according to Mozambican daily newspaper Notícias.

In the first and second quarters of 2014 the Mozambican economy recorded increases of 7.6 percent and 7.3 percent, respectively, according to data on the INE website.

Economic performance in the fourth quarter of 2014 was mostly attributable to 8.8 percent growth of the primary sector, most notably the mining industry with growth of 14.9 percent.

The tertiary sector ranks second with growth of 8.1 percent, while the trade and repair services posted growth of 8.0 percent.

The secondary sector also posted growth (7.7 percent), and construction in particular, with an increase of 12.9 percent.

The agriculture sector, livestock, forestry, fishing and related activities accounted for the biggest slice of the economy with a 24.9 percent share of GDP, followed by the manufacturing sector with 11.5 percent. (macauhub/MZ)