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%).
GDP Annual Growth Rate in Mozambique averaged 5.88 percent from 2000 until 2019, reaching an all time high of 15.30 percent in the first quarter of 2004 and a record low of -2.50 percent in the fourth quarter of 2002. 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.
GDP Annual Growth Rate in Mozambique is expected to be 2.30 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 4.00 in 12 months time. In the long-term, the Mozambique GDP Annual Growth Rate is projected to trend around 4.50 percent in 2020, according to our econometric models.