The Mozambican economy grew by 2 percent year-on-year in the second quarter of 2021, the highest quarterly growth rate since the second quarter of 2019. Main contributions to growth came from the tertiary sector (2.8 percent), namely hotels and restaurants (4 percent vs -15.1 percent in Q1), and transport and communication (2.9 percent vs -9.7 percent). Also, the primary sector expanded 1.6 percent; mainly fishing (2.6 percent vs 1.3 percent) and mining (0.8 percent vs -18.0 percent). On the other hand, the secondary sector contracted by 1 percent, driven by electricity and water (-9.8 percent vs -2.2). source: Instituto Nacional De Estatistica, Mozambique

GDP Annual Growth Rate in Mozambique averaged 5.35 percent from 2000 until 2021, reaching an all time high of 15.30 percent in the first quarter of 2004 and a record low of -3.54 percent in the second quarter of 2020. This page provides the latest reported value for - Mozambique GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Mozambique GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2021.

GDP Annual Growth Rate in Mozambique is expected to be 1.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Mozambique GDP Annual Growth Rate is projected to trend around 4.20 percent in 2022 and 6.00 percent in 2023, according to our econometric models.

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Mozambique GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.97 0.12 15.30 -3.54 2000 - 2021 percent Quarterly
2014=100


Calendar GMT Actual Previous Consensus TEForecast
2020-11-24 12:40 PM Q3 -1.09% -3.25% -2.8%
2021-02-15 11:00 AM Q4 -2.37% -1.09% 0.8%
2021-06-04 09:20 AM Q1 0.12% -1.77% -1.7%
2021-08-27 05:10 PM Q2 1.97% 0.12% 0.8%
2021-11-25 04:00 PM Q3 1.97%


News Stream
Mozambique GDP Growth at 2-Year High of 2% in Q2
The Mozambican economy grew by 2 percent year-on-year in the second quarter of 2021, the highest quarterly growth rate since the second quarter of 2019. Main contributions to growth came from the tertiary sector (2.8 percent), namely hotels and restaurants (4 percent vs -15.1 percent in Q1), and transport and communication (2.9 percent vs -9.7 percent). Also, the primary sector expanded 1.6 percent; mainly fishing (2.6 percent vs 1.3 percent) and mining (0.8 percent vs -18.0 percent). On the other hand, the secondary sector contracted by 1 percent, driven by electricity and water (-9.8 percent vs -2.2).
2021-08-27
Mozambican Economy Recovers Slightly in Q1
The Mozambican economy advanced by 0.12% year-on-year in the first quarter of 2021, following three consecutive quarters of contraction, amid the Covid-19 pandemic outbreak and associated lockdown measures. The largest positive contribution came from primary activities, in particular agriculture (4.8% vs 5.1% in Q4) and fisheries (1.3% vs 0.9%). This was despite a slump in mining (-18% vs -11.3%). Meanwhile, services contracted 1.1%, led by hotels & restaurants (-15.1% vs -21.6%) and transport, storage, information & communication (-9.6% vs -7.5%). Also, the secondary activities shrank 3.1%, primarily due to construction (-8.4% vs -4.1%) and manufacturing (-2.3% vs -1.4%).
2021-06-04
Mozambique GDP Contraction Deepens in Q4
The Mozambican economy shrank by 2.4% year-on-year in the fourth quarter of 2020, following a 1.1% decline in the previous quarter, as the country struggled with terrorist attacks and as coronavirus-induced restrictions around the globe hit tourism-related sectors. The largest contraction was registered in the services sector (-4.1% vs -2.4% in Q2), led by hotels & restaurants (-22.5% vs -31.4%); transport & communications (-7.5% vs -1.2%) and financial services (-2.1% vs -2.1%). The primary sector also declined (-2.7% vs -1.9%), due to a slowdown in agriculture output (1.1% vs 3.2%) and a sharp contraction in mining (-13.3% vs -16.2%). Also, secondary activities relapsed (-2.3% vs 0.6%), dragged by utilities (-5.2% vs 4.1%) construction (-3.9% vs -0.2%) and manufacturing (-1.1% vs -0.9%).
2021-02-15
Mozambique GDP Contracts Less in Q3
The Mozambican economy shrank by 1.1% yoy in the third quarter of 2020, following a 3.3% decline in the previous three-month period, as domestic activity gradually recovers from the impact of Covid-19 and related containment measures. The services sector contracted less (-2.4% vs -4.1% in Q2), led by hotels & restaurants (-31.4% vs -35.8%); transport & storage (-1.2% vs -4.7%) and internal trade (0.2% vs -5.7%). Also, primary activities fell at a softer pace (-1.9% vs -2.7%), amid a smaller contraction in mining (-16.2% vs -25.6%) and growth recorded in agriculture (3.2% vs 3.5%). In addition, secondary activities rebounded (0.6% vs -2.4%), driven by utilities (4.1% vs 6.3%) and softer decreases in manufacturing (-0.9% vs -5.3%) and construction (-0.2% vs -0.9%). The Mozambican government projects the economy will grow 2.1% in 2021, supported by agriculture and construction. Gas exploration projects in the Rovuma basin could also support activity.
2020-11-24

Mozambique GDP Annual Growth Rate
The most important sector of Mozambican economy is services and accounts for 49 percent of total GDP, of which wholesale and retail trade, repair of motor vehicles (12 percent); education (8 percent) and transport (7 percent). Industry constitutes 27 percent with mining and quarrying representing 11 percent as the country has large mineral deposits (marble, bentonite, coal, gold, bauxite, granite and gemstones) with aluminum being the most important exported product. Manufacturing accounts for 10 percent and construction for 3 percent. Agriculture, hunting, forestry and fishing creates 24 percent of the wealth with prawns, cotton, cashew nuts, sugar, citrus, copra, coconuts, and timber being the most important crops. On the expenditure side, household consumption is the main component of GDP and accounts for 67 percent of its total use, followed by government expenditure (26 percent) and gross fixed capital formation (25 percent). Exports of goods and services account for 41 percent of GDP while imports account for 73 percent, subtracting 32 percent of total GDP.