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.


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Mozambique GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.00 2.30 15.30 -2.50 2000 - 2019 percent Quarterly
2014=100

Calendar GMT Actual Previous Consensus TEForecast
2019-03-01 01:20 PM Q4 3.1% 3.2% 3.5%
2019-06-13 03:10 PM Q1 2.5% 3.0% -0.7%
2019-09-10 08:50 AM Q2 2.3% 2.5% 1.3%
2019-12-02 04:00 PM Q3 2.0% 2.3% 2.3%
2020-03-02 01:20 PM Q4 2.0% 2.5%


News Stream
2019-09-10
Mozambique GDP Growth Weakest in Nearly a Year
The Mozambican economy expanded 2.3 percent year-on-year in Q2 2019, slowing further from a 2.5 percent advance in the prior period. It was the weakest growth since Q3 2018, reflecting the lingering effects of devastating cyclones Idai and Kenneth which struck the country in March and April, respectively. As such, output continued to shrink for mining & quarrying (-3.5% vs 2.0%); electricity, gas & water (-2.9% vs -7.1%) and agriculture (-0.1% vs 2.6%), on the back of extensive crop losses caused by storms. Also, smaller gains were recorded in internal trade (1.6% vs 2.6% in Q1); real estate activities and business services (4.7% vs 5.0%); public administration (3.0% vs 3.1%) and fishing activities (2.1% vs 3.8%). Conversely, growth picked up for transport, storage, information & communication (6.7% vs 3.3%); health & social care (6.6% vs 3.2%); financial services (3.1% vs 2.7%); hotels & restaurants (3.5% vs 1.1%); construction (3% vs 1.2%) and manufacturing (3.7% vs 2.9%).

2019-06-13
Mozambique GDP Growth Slows to 2.5% YoY in Q1
The Mozambican economy expanded 2.5 percent year-on-year in Q1 2019, slowing from a downwardly revised 3.0 percent advance in the previous period, in part reflecting the impact of two devastating cyclones. Output grew less for transport, storage, information & communication (3.3% vs 7.2% in Q4); financial services (2.7% vs 5.6%); hotels & restaurants (1.1% vs 7%); education (0.2% vs 1%); mining (2% vs 15.6%) and agriculture (2.6% vs 2.7%). Meantime, the utilities sector contracted sharply (-7.1% vs 0.6%). On the other hand, growth picked up for real estate activities and business services (5% vs 4.9%); manufacturing (2.9% vs 0.9%); fishing (3.8% vs 1%). Also, output rebounded for construction (1.2% vs -1.1%) and public administration (3.1% vs -7.9%, amid efforts to rebuild damaged infrastructure.

2019-03-01
Mozambique Economy Grows the Least in Over a Year
The Mozambican GDP expanded 3.1 percent year-on-year in Q4 2018, slowing from a 3.2 percent advance in the previous quarter. It is the slowest expansion since Q3 2017, as output rose less for mining (14.4% vs 15.3% in Q3); manufacturing (1.8% vs 2.2%) and real estate activities (1.0% vs 1.4%). Also, declines were seen in construction (-0.9% vs -2.2%) and internal trade (-1% vs 3.8%). Conversely, notable gains were recorded in agriculture (4.3% vs 3.8%); fishing (5.3% vs 1.5%); hotels & restaurants (4.6% vs 3.3%); transport, storage, information & communication (4.7% vs 1.6%), public administration (4.6% vs 2.4%) and education (4.8% vs 4.4%). Additionally, output rebounded for utilities (3.3% vs -0.5%) and financial services (1.7% vs -1.9%). On a quarterly basis, the economy advanced 2%, rebounding from a downwardly revised 0.2% contraction in Q3. Considering full 2018, the economy grew 3.3%, below 3.7% in 2017.


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.

Mozambique GDP Last Previous Highest Lowest Unit
GDP Growth Rate 2.00 -0.20 7.70 -3.00 percent [+]
GDP Annual Growth Rate 2.00 2.30 15.30 -2.50 percent [+]
GDP 14.46 12.65 16.96 2.09 USD Billion [+]
GDP Constant Prices 161699.00 177825.00 177825.00 19407.00 MZN Million [+]
Gross Fixed Capital Formation 180258.00 160318.20 225550.60 35600.80 MZN Million [+]
GDP per capita 539.20 537.60 539.20 134.00 USD [+]
GDP per capita PPP 1180.37 1176.85 1180.37 361.09 USD [+]
GDP From Agriculture 36097.00 43885.00 43905.00 15144.00 MZN Million [+]
GDP From Construction 2977.00 2509.00 3787.00 957.00 MZN Million [+]
GDP From Manufacturing 8483.00 13304.00 16401.00 7674.00 MZN Million [+]
GDP From Mining 12762.00 11493.00 13380.00 844.00 MZN Million [+]
GDP From Public Administration 13183.00 13809.00 13809.00 2875.00 MZN Million [+]
GDP From Utilities 4606.00 4307.00 4606.00 1744.00 MZN Million [+]