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Mozambique’s economy sees 2.3 percent boost in second quarter of 2019

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Mozambique’s National Statistics Institute (INE) says the country’s economy grew by 2.3 percent in the second quarter of 2019 as compared to the same period of last year.

According to INE, the performance of economic activity in the second quarter of 2019 is attributed, firstly, to the tertiary sector, which grew 3.5 percent. The institute noted the transport, storage, ancillary transport, information and communication activities as main contributors.

Together, these branches grew 6.7 percent, followed by real estate rental and business services by 4.7 percent.

“Second is the secondary sector, with growth of 2.1 percent, driven by the manufacturing sector with 3.7 per cent, aided by the construction industry, with growth of about 3.0 percent”, INE said in a statement on Thursday, 12 September 2019.

In the period under review, agriculture, livestock, hunting, forestry, logging, related activities and fishing accounted for the largest share of the economy, accounting for 24.7 percent of GDP. This was followed by transport, storage, ancillary activities, and information and communications with a joint contribution of 10.0 percent.

Third place is in commerce and repair services with 9.0 percent, followed by manufacturing with 7.5 percent.

The mining industry weighed 6.5 percent while public administration, education, property rental and business services, and fishing and aquaculture weighed 7.8 percent, 5.6 percent, 4.7 percent and 1.6. percent respectively.

The remaining lines of activity together accounted for 22.7 percent.

– APA

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