The Mozambican economy shrank 3.25% yoy in the Q2 of 2020, following a 1.68% growth in the previous three-month period. It was the steepest economic contraction since at least the Q2 of 2000, amid the full impact of the coronavirus outbreak and related containment measures. The main negative contribution came from the services sector (-4.06%), namely hotels & restaurants (-35.8% vs -1.4%); internal trade (-5.7% vs 2.9%) and transport & communication (-4.7% vs 5%). Declines were also seen in primary activities (-2.65%), induced by mining (-25.6% vs -11.7%) and fishing (-1.8% vs 1.5%) which contrasted with a solid rise in agriculture (3.5% vs 2.9%). In addition, secondary activities posted a 2.42% fall, due to weaker performance in manufacturing (-5.3% vs 2.5%) and construction (-0.9% vs 1.7%). The emergency state in the country was first set on April 1st and was extended for the fourth time until August 30th, though with some relaxation of restrictions.

GDP Annual Growth Rate in Mozambique averaged 5.62 percent from 2000 until 2020, reaching an all time high of 15.30 percent in the first quarter of 2004 and a record low of -3.25 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 2020.

GDP Annual Growth Rate in Mozambique is expected to be -2.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Mozambique to stand at 2.30 in 12 months time. In the long-term, the Mozambique GDP Annual Growth Rate is projected to trend around 2.60 percent in 2021 and 3.20 percent in 2022, according to our econometric models.

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Mozambique GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-3.25 1.68 15.30 -3.25 2000 - 2020 percent Quarterly
2014=100


Calendar GMT Actual Previous Consensus TEForecast
2019-12-02 04:00 PM Q3 2.0% 2.3% 2.3%
2020-02-12 12:00 PM Q4 2.0% 2.0% 2.5%
2020-06-09 09:20 AM Q1 1.68% 1.51% 1.3%
2020-08-18 01:30 PM Q2 -3.25% 1.68% -3%
2020-12-07 04:00 PM Q3 -3.25% -2.8%
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News Stream
Mozambique Q2 GDP Shrinks the Most on Record
The Mozambican economy shrank 3.25% yoy in the Q2 of 2020, following a 1.68% growth in the previous three-month period. It was the steepest economic contraction since at least the Q2 of 2000, amid the full impact of the coronavirus outbreak and related containment measures. The main negative contribution came from the services sector (-4.06%), namely hotels & restaurants (-35.8% vs -1.4%); internal trade (-5.7% vs 2.9%) and transport & communication (-4.7% vs 5%). Declines were also seen in primary activities (-2.65%), induced by mining (-25.6% vs -11.7%) and fishing (-1.8% vs 1.5%) which contrasted with a solid rise in agriculture (3.5% vs 2.9%). In addition, secondary activities posted a 2.42% fall, due to weaker performance in manufacturing (-5.3% vs 2.5%) and construction (-0.9% vs 1.7%). The emergency state in the country was first set on April 1st and was extended for the fourth time until August 30th, though with some relaxation of restrictions.
2020-08-18
Mozambique GDP Grows 1.7% in Q1
The Mozambican economy expanded 1.68 percent year-on-year in the first three months of 2020, following a downwardly revised 1.51 percent growth in the previous period. Increases were seen in utilities (6.5 percent), transportation and storage (5 percent), agriculture (2.9 percent), manufacturing (2.5 percent), construction (1.7 percent) and fishery (1.5 percent). In contrast, mining plunged 11.7 percent and financial services declined 0.1 percent. The government expects the economy to shrink 3.3 percent in 2020 due to the coronavirus pandemic. The emergency state in the country was first set on April 1st and has been prolonged until June 30th. Schools and entertainment spaces remain closed, and gatherings are not allowed.
2020-06-09
Mozambique Economy Remains Sluggish in Q4
Mozambique's GDP annual growth rate stood at 2 percent in Q4 2019, the slowest since Q3 2017, as the country rebuilds from the devastating cyclones of last year. Output continued to decline for mining & quarrying (-1.3 percent vs -3.7 percent in Q3); manufacturing (-2.6 percent vs 1.3 percent) and internal trade (-3.9 percent vs -0.6 percent). Also, slower increases were recorded for transport & storage (3.2 percent vs 5.8 percent); electricity, gas & water (3.1 percent vs 3.9 percent); construction (2 percent vs 2.6 percent); hotels & restaurants (1.5 percent vs 2.4 percent); real estate activities (3.2 percent vs 4.1 percent) and health & social assistance (2.7 percent vs 3.5 percent). On a more positive note, activity strengthened in finance & insurance (5.6 percent vs 4 percent); agriculture (1.4 percent vs 1 percent); fisheries (4.1 percent vs -2.2 percent); public administration (3.2 percent vs 1.6 percent) and education (1.8 percent vs 1 percent).
2020-02-12
Mozambique GDP Grows the Least in 2 Years
The Mozambican economy expanded 2 percent year-on-year in Q3 2019, the least since Q3 2017, as the country recovers slowly from devastating cyclones Idai and Kenneth. Output shrank for mining & quarrying (-3.7% vs -3.5% in Q2); fisheries (-2.2% vs 2.1%) and internal trade (-0.6% vs 1.6%); and rose at a softer pace for manufacturing (1.3% vs 3.7%); construction (2.6% vs 3%); hotels & restaurants (2.4% vs 3.5%); transport, storage, information & communication (5.8% vs 6.7%); real estate & business services (4.1% vs 4.7%); public administration (1.6% vs 3%) and health & social assistance (3.5% vs 6.6%). In contrast, activity rebounded in agriculture (1% vs -0.1%) and utilities (3.9% vs -2.9%) while grew faster in financial services (4% vs 3.1%) and education (1% vs 0.4%).
2019-12-02

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.