Mozambique economy growing despite world crisis

Government spokesman Luis Covane said Thursday that the southern African country’s GDP grew by 7 percent in the first six months of 2009.

Still, some signs of the crisis are starting to show.

Mozambican exports fell from $543 million in 2008 to $348 million this year. Officials said a collapse in the price of aluminum, Mozambique‘s most significant export, is to blame.

The country, which is among the poorest in Africa, has a recent history of economic growth. Past growth rates have reached 10 percent per year, making it the world’s fastest growing economy at one point.

Source: Attila Éliás