You are here
Southern Africa Quarterly Overview and Analysis - First Quarter 2012 - Issue 4
The economies of most southern Africa economies are growing with the exception of Swaziland which is yet to recover from the worst fiscal crisis that hit the country since independence in 1966. The economies of Angola, Zimbabwe and Mozambique are expected to grow by over 7 percent in 2012, making them the fastest growing economies in the region (Figure 1). Angola’s growth has been driven largely by strong oil output, while good performance in mining and agriculture has buoyed growth in Zimbabwe. The tertiary sector, mainly transport and communication, and the opening of two new coal mines were the major contributor to growth in Mozambique. During the first quarter of 2012 most of the countries, especially South Africa and Mauritius, revised their economic growth downward due to the deepening economic crisis in the euro zone which is a major export market for the region.