Mozambique: Central bank recorded 2023 profit of €39.5M after 2022 loss
File photo: Lusa
Mozambique’s gross domestic product (GDP) grew 5.92% in the third quarter, making growth of 4.9% since the beginning of the year, the National Statistics Institute (INE) announced on Friday.
According to the Quarterly National Accounts report, Mozambican real GDP, at market prices, was influenced in the third quarter by the primary sector, which grew 12.9%, “with greater emphasis on the mining industry branch, with a variation of 43.18%”.
This was followed by agriculture, livestock, hunting, forestry and forestry, which grew 3.53% in the same period.
The 5.92% growth in the third quarter compares to 4.67% in the second quarter and 4.17% in the first quarter. In the third quarter of 2022, Mozambican real GDP grew by 3.65%.
In the second quarter of 2018, according to INE figures, Mozambican real GDP grew 5.73%, the highest value prior to the third quarter of this year.
According to the Bank of Mozambique, this “acceleration of economic activity” in the country results from the “increase in production of liquefied natural gas (LNG), which had a 45% contribution to economic growth”.
This, adds the central bank in an official note, in a “context in which the recovery of the manufacturing industry is also highlighted, after four successive quarters of negative performance”.
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