Africa-Press – Mozambique. Mozambique’s gross domestic product (GDP) grew 4.67% in the second quarter of 2023, driven by growth in the primary sector, according to the National Accounts report released by the Mozambican National Statistics Institute (INE) on Monday.
This performance adds to the 4.17% registered from January to March, also in homologous terms, resulting in an accumulated economic growth in the first half of 4.42%, according to INE.
The Mozambican economy is expected to grow by 5% in 2023, according to the government’s forecast.
In this report, INE adds that the performance of economic activity in the second quarter of 2023 is justified “in the first place” by the primary sector, which grew by 8.98% compared to the same period in 2022, “with greater emphasis” on Mining Extraction Industry, with a variation of 42.71%, followed by the Agriculture, Livestock, Hunting, Silviculture and Forest Exploitation with around 3.11%.
The tertiary sector followed, with a variation of 4.24%, with emphasis on the Transport, Storage and auxiliary activities of transport and Information and Communications branch, with a growth of 6.85%, followed by Hospitality and Restoration with a variation of 5.51%, while the Financial Services branch increased by 3.40%.
Finally, there is the secondary sector, which fell, year-on-year, 6.52%, “induced by the Construction branch”, with a negative variation of 10.43%, followed by the Manufacturing Industry branch, with a fall of 7.72% and, finally, the electricity, gas and water distribution branch, which fell by 0.18%.
According to INE, the branches of Agriculture, Livestock, Hunting, Silviculture and Forest Exploitation and related activities “had a greater participation in the economy”, with a joint weight in the GDP of the second quarter of 25.89%, followed by the Transport, Storage branch and auxiliary activities of transport and Information and Communications, with a weight of 10.36%.
In third place comes the Commerce and Repair Services branch, with 8.92% of the quarter’s total GDP, followed by the Mining Industry branch, with 7.48%.
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