05/08/2014 - Mozambican economy posts 7.5 pct growth in 1st quarter

Mozambican economy posts 7.5 pct growth in 1st quarter

The Mozambican economy grew by 7.5 percent in the first quarter of 2014, compared to the same period of 2013, the country’s National Statistics Institute (INE) said. According to information from INE cited by Mozambican daily newspaper Notícias growth in economic activity in the first quarter increased by 4.3 percentage points.

Economic performance in the first quarter of 2014 was mostly the result of the performance of the secondary sector, which grew 11.5 percent, notably industry with growth of 12.5 percent, and the construction sector grew the least (6.2 percent). The tertiary sector posted growth of 8.0 percent driven by the retail and repair services sector, which rose by 10.1 percent, and the primary sector also posted growth (6.2 percent) due to the extractive industries (13.4 percent). According to INE, agriculture, livestock, hunting, silviculture, related activities and fishing accounted for the biggest slice of Mozambique’s gross domestic product (GDP) or 25.2 percent, followed by retail and repair services with 11.6 percent.


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