Mozambique’s economy grows by 3.3% in 2016

13 February 2017

Mozambique’s economy grew by 3.3% in real terms in 2016, precisely half the 6.6% growth registered in 2015, announced in Maputo the National Statistics Institute (INE).

INE, disclosing National Preliminary Accounts for 2016 reported that the evolution of the economy was primarily due to the performance of the secondary sector, which grew by 5.2%, including the stand out sub-sectors of the manufacturing industry (+7.3%) and construction (6.7%).

The tertiary sector comes second in terms of contribution to GDP with growth of 5.1%, which was driven by financial services whose production grew 25.4%.

The INE also said that the primary sector recorded positive growth of about 3.9%, driven by mining, which grew 10.9%. (macauhub)