Mozambique GDP Growth Quickens to 4.5% in Q2

Mozambique's economy grew by 4.5% year-on-year in Q2 2024, accelerating from a 3.2% increase in the previous quarter.

This robust performance was primarily driven by a 5.85% expansion in the primary sector, with the mining subsector surging by 17.48%, followed by a 1.61% rise in fishing and a 1.43% growth in agriculture, livestock, hunting, forestry, and logging.

The tertiary sector also contributed significantly, growing by 3.61%, with hospitality and catering leading at 5.63%, followed by financial services at 4.37% and transport, storage, and information and communications at 3.50%.

The secondary sector saw a 2.82% increase, primarily driven by the electricity, gas, and water distribution subsector, which expanded by 4.46%.

The manufacturing industry grew by 2.90%, whereas the construction subsector experinced a decline of 1.46%.