The Mozambican economy expanded 1.68 percent year-on-year in the first three months of 2020, following a downwardly revised 1.51 percent growth in the previous period. Increases were seen in utilities (6.5 percent), transportation and storage (5 percent), agriculture (2.9 percent), manufacturing (2.5 percent), construction (1.7 percent) and fishery (1.5 percent). In contrast, mining plunged 11.7 percent and financial services declined 0.1 percent. The government expects the economy to shrink 3.3 percent in 2020 due to the coronavirus pandemic. The emergency state in the country was first set on April 1st and has been prolonged until June 30th. Schools and entertainment spaces remain closed, and gatherings are not allowed.
GDP Annual Growth Rate in Mozambique averaged 5.73 percent from 2000 until 2020, reaching an all time high of 15.30 percent in the first quarter of 2004 and a record low of -2.50 percent in the fourth quarter of 2002. This page provides the latest reported value for - Mozambique GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Mozambique GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020.
GDP Annual Growth Rate in Mozambique is expected to be -2.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Mozambique to stand at 2.30 in 12 months time. In the long-term, the Mozambique GDP Annual Growth Rate is projected to trend around 2.60 percent in 2021 and 3.20 percent in 2022, according to our econometric models.