Mozambique’s gross domestic product (GDP) for full-year 2014 – judged at market prices – grew by 7.4 percent year-on-year in real terms, the country’s National Statistics Institute announced last week.

That represents an increase of 0.1 percentage points in comparison with the previous year’s growth rate.

Mozambique’s GDP for the fourth quarter of 2014 expanded by 7.0 percent year-on-year in real terms. It was mainly owing to improvements in mining and construction.

GDP growth in real terms for the third quarter of 2014 was revised to 7.6 percent from 7.4 percent, said the statistics service.

Mozambique’s Government has set the economic growth target for the country in 2015 at 7.5 percent.

Earlier this year, Mozambique’s central bank forecast the country would achieve economic growth of 7.7 percent in 2015, with inflation of 5.5 percent.