Table 2. Real and per capita GDP for Mozambique (Structural Weights, and Growth) and Inflation Rate
(2007-2011)
Sector of Activity
2007
2008
2009
2010
2011
Agriculture, Animal production, hunting and
forestry
Fishing, aquaculture, and related services
Extractive Industries
Manufacturing
Electricity and Water
Construction
Trade
Repair of Automobile Vehicles, motorbikes
and domestic goods
Accommodation, restaurants and similar
Transport, storage and communication
Financial activities
Real Estate activities, rentals and services
provides to companies
Public administration, defence and
mandatory social security
Education
Health and Social Action
Other collective, social and personal service
activities
Total value added, base prices.
Taxes on Products
Gross Domestic Product
23,1
23,6
23,8
23,6
23,5
1,7
1,1
13,5
5,6
3,3
11,2
0,3
1,7
1,1
13,2
4,6
3,5
11,2
0,3
1,4
1,1
12,7
4,9
3,4
11,2
0,3
1,4
1,2
12,4
4,8
3,4
10,8
0,4
1,4
1,3
11,9
4,8
3,3
10,7
0,4
1,6
9,9
5,2
7,6
1,7
10,4
5,0
7,2
1,6
10,8
5,2
6,9
1,6
11,6
5,4
6,5
1,6
12,0
5,4
6,2
3,6
3,6
3,6
3,7
3,7
3,7
1,3
1,7
3,7
1,4
1,7
3,9
1,4
1,6
4,0
1,4
1,5
4,0
1,4
1,5
91,3
8,7
100,0
90,8
9,2
100,0
90,7
9,3
100,0
90,6
9,4
100,0
89,9
10,10
100,0
151.300
161.635
171.873
184.050
197.524
7,3%
340
9,17
6,8%
380
15,4
6,3%
430
3,79
7,1%
440
12,43
7,3%
470
11,17
Gross Domestic Product, constant prices
2003=100 (10^6 MT)
Growth Rate
GDP per capita (USD)
Inflation (%)
Source: National Institute for Statistics (www.ine.gov.mz), World Bank (2012) (data.worldbank.org/indicator/NY.GNP.PCAP.CD)
Average annual inflation, measured as the variation of the consumer price index in the country,
collected by INE, in the cities of Beira, Nampula, Maputo, was around 10.37% on average
between 2007 and 2011 (Table 2). The highest rate was observed in 2008 (15,4%),
representing 6,23 percentage points above the 2007 rate (9,17%). Among the main factors that
contributed to the steep increase of the prices in 2008 we can highlight:
i.
ii.
iii.
Scarcity of fruit, vegetables and foodstuffs in general (following atypical rain that
characterized the beginning of the year);
Depreciation of the Metical relative to the currencies of major trade partners; and
Increase of international food and fuel prices
Until November of 2012, annual inflation was 2,33% (Table 2). Determining factors of this
reduction in the inflation rate were the strong dynamism in the real economy and consequent
increase in internal supply of fruit and vegetables, good coordination of monetary and fiscal
policies, relative stability of the Metical in relation to currencies traded in our market, in a
context in which there continued to operate the cushioning of the prices of some goods and
services, brought in to mitigate the impact of the financial crisis, with emphasis on the prices of
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