Mozambique Economic Outlook
September 21, 2021Following Q1’s marginal bounce-back, the economy expanded at a quicker pace in annual terms in the second quarter. The acceleration was largely attributed to rebounding output in the extractive industries; construction sector; trade and repair activity; and the hospitality sector. Meanwhile, production in the agricultural sector and activity in financial services sector expanded at a weaker rate, weighing on growth in turn. Moving to the third quarter, available data paints a mixed picture. Following a healthy expansion in July, operating conditions in the manufacturing sector deteriorated in August, as surging numbers of Covid-19 cases in the period resulted in tighter curbs, dampening output and sales. However, new infections have eased markedly since then, which should provide some breathing space for the pandemic-battered economy.
Mozambique Economic GrowthGDP is expected to rebound this year, in line with recovering domestic and foreign activity. Next year, economic growth should shift into a higher gear as the progressing Coral South LNG project, scheduled to come online in 2022, buoys private sector activity. That said, the ongoing conflict in the north of the country and Covid-19 flare-ups remain key downside risks. FocusEconomics panelists see GDP growing 2.7% in 2021 and 4.2% in 2022, which is unchanged from last month’s forecast.
Mozambique Economy Data
5 years of Mozambique economic forecasts for more than 30 economic indicators.
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|Exchange Rate||62.43||0.48 %||Jan 01|
|Stock Market||0.1||0.0 %||Jan 06|
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