Mozambique: Economic activity fell by 1.9% in May – Carta

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Mozambique: Economic activity fell by 1.9% in May – Carta

9:00 CAT | 24 Aug 2021

File photo: Lusa

The Economic Activities Index for May 2021 fell 1.9% as regards volume of business, even while there was a 0.2% increase in the employment and wages indexes compared to the previous month.

The figures were made public last week in a National Institute of Statistics (INE) press release consulted by ‘Carta’, which also states that the decrease in business turnover in May was influenced by negative variations observed in the sectors of industry, accommodation, restaurants and similar and other non-financial services, of 11.3%, 1.7% and 0.5% respectively.

The electricity, transport, logistics and commerce sectors by contrast registered growths of 14.1%, 7.5% and 4.1% respectively in the month under analysis.

“In turn, the employment index for the month of May 2021 was the result of the positive change in the accommodation, catering and similar activities sector and in the transport and logistics sector, with 1.5% and 0.3% respectively. The sectors of commerce and industry registered slight falls of 0.3% and 0.1% respectively, while the sector of other non-financial services registered a stabilisation in the same period under analysis,” the INE explains.

The INE also notes that the change in the remuneration index in May results from increases in the sectors of transport and logistics, trade and other non-financial services, with 6.7%, 0.4%, and 0.4% respectively. Meanwhile, the industry and accommodation and restaurants sectors registered falls of 3.0% and 1.5%.

Comparing the overall indexes for the month of May 2021 with those for the same period in 2020, the INE verified growth in the business turnover index, the employment index, and the remuneration index of 34.7%, 6.5 % and 10.5% respectively.