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“Economic Activity Recorded Growth of 5.5% in April” – INE

“Economic Activity Recorded Growth of 5.5% in April” – INE

The indices of economic activities reveal that Mozambique recorded a positive variation in the order of 5.5% in April this year, when compared to the previous month.
According to the National Statistics Institute (INE) this growth is due to a positive variation of 5.5% in turnover, remunerations (6.2%) and employment (3.7%) when compared to the previous month.

“Growth in turnover was influenced by the positive variation in the other non-financial services, transport and storage, and industrial production sectors, with 19.2%, 12.7% and 3.4%, respectively,” INE explained.
The electricity, accommodation, restaurants and similar, and commerce sectors, meanwhile, registered decreases of 12.9%, 8.0% and 2.6% in turnover for the month under review.

The employment index in April was a result of the positive change in other non-financial services, industrial production, transport and storage, and trade sectors with 14.7%, 2.3%, 0.7% and 0.2% respectively.

The accommodation, restaurants and similar services sector fell by a slight 0.5%.
According to INE, the change in the compensation index in April results from increases in the accommodation and catering and similar sectors, industrial production, trade 15.7%, 12% and 2.4% respectively.

In the same period, the transport and storage sector, had a slight drop of 2.2%, with the other services sector registering zero change.

“Comparing the overall indices of the month of April 2021, with those of the same period of 2020, there is a notable growth of the turnover index by 35.0%, a slight growth of the employment index 1.9%, while the compensation index recorded a slight decrease of 0.5%,” the document said.

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