Mozambique’s economy is on the rise, boasting a 4.5% growth in the second quarter of 2024. This growth, as reported by the National Institute of Statistics (INE), marks the highest increase in the past year. The primary sector played a crucial role, with the mining industry leading the charge with a remarkable 17.48% increase.
Alongside mining, the fishing sector also contributed positively to the overall growth. Compared to the same period last year, the Gross Domestic Product (GDP) surged by 4.5%, pushing the cumulative increase for the first half of 2024 to 3.86%. The tertiary sector was also a key player, with hotels and financial services showing significant growth.
Transportation, communication, and trade sectors also experienced growth, showcasing Mozambique’s economic resilience and potential. The government projects further growth in the GDP for 2024, highlighting the country’s evolving economic landscape and ability to overcome global challenges.
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