Mozambique’s Industrial Growth Falls Marginally

(3 Minutes Read)

According to the Ministry of Economy and Finance report, this performance, equivalent to 78% of that planned by the government for 2024, compares with 113.366 million meticais (€1.703 million) in the same period in 2023, thus representing a decline of 0.1% in the space of a year, in a sample composed of 337 companies.

Mozambican industrial production fell slightly in the nine months of the year, compared to the same period in 2023, to 113.304 million meticais (€1.702 million), according to government data on budget execution accessed by Lusa today.

According to the Ministry of Economy and Finance report, this performance, equivalent to 78% of that planned by the government for 2024, compares with 113.366 million meticais (€1.703 million) in the same period in 2023, thus representing a decline of 0.1% in the space of a year, in a sample composed of 337 companies.

The basic metallurgical industry continued to have the largest share, with 31.8% of the total, but fell by 4.1% year-on-year, to 36,025 million meticais (€541 million), followed by the food industry, with 28.9% of the total, growing by 6.8% in the period from January to September, to a production equivalent to 32,695 million meticais (€491 million).

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The Mozambican government expects economic growth of 5.5% in 2024, driven by the gas sector, but President Filipe Nyusi has already admitted that this target could be revised downwards due to the impact of the post-election demonstrations and stoppages taking place throughout the country for over a month.