Mozambique - BNP, Årlig Growth Rate

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%).

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.

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.