Mozambique: GDP grew 2.16% in 2021 as Q4 growth accelerated to 3.32% YoY – INE

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Mozambique: GDP grew 2.16% in 2021 as Q4 growth accelerated to 3.32% YoY – INE

7:42 CAT | 15 Feb 2022

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in file CoM

Mozambique’s economy grew by 2.16% in 2021, according to the bulletin on the country’s national accounts published on Tuesday by its National Statistics Institute (INE), which contains new data for the final quarter of the year.

Gross domestic product “showed a positive variation of 3.32 percent in the fourth quarter of 2021 when compared to the same period of 2020, making an accumulated growth of 2.16 percent,” the document reads.

The figures put GDP in line with the target laid out in the state budget for 2021 (2.1%), underscoring the signs of recovery from the crisis caused by the Covid-19 pandemic, after the economy in 2020 shrunk by 1.2%.

For 2022, the government forecasts growth of 2.9% in its economic and social plan and the state budget approved by parliament.

Also according to the INE, in the final quarter of 2021, the biggest boost to economic activity was provided by “the primary sector, which grew by 4.6 percent” – particularly the mining industry, followed by agriculture, livestock, hunting, forestry and logging.

Source: Lusa