Mozambique Economic Outlook
November 17, 2020Sequential data alludes to a very gradual recovery so far in H2, after the Covid-19 outbreak and associated lockdown sent GDP tumbling in Q2. Economic activity, as measured by sales volume, continued to firm from the prior month in August, propelled by stronger growth in the industrial and commerce sectors. Additionally, the economic climate index crawled higher in September on improved employment conditions; that said, it still remains far below February’s peak before the pandemic started to take its toll. Meanwhile, although the private sector PMI climbed to a seven-month high in October, it still pointed to downbeat business conditions overall. In other news, the World Bank approved a USD 100 million grant in late October and the EU greenlighted around USD 116 million in aid in early November to help the government address the ongoing socioeconomic impact of the pandemic.
Mozambique Economic GrowthGDP is poised to gradually recover in 2021 after this year’s pandemic-induced contraction, partly thanks to reviving foreign demand, which should bolster exports of coal and aluminum. Gas exploration projects in the Rovuma basin could also support activity. However, the outlook remains clouded by the country’s hefty external debt load and fragile public finances. FocusEconomics panelists see GDP growing 2.8% in 2021, which is down 0.1 percentage points from last month’s forecast, and 5.5% in 2022.
Mozambique Economy Data
5 years of Mozambique economic forecasts for more than 30 economic indicators.
Get a sample report showing our regional, country and commodities data and analysis.
|Exchange Rate||62.43||0.48 %||Jan 01|
|Stock Market||0.1||0.0 %||Jan 06|
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.