Mozambique

Mozambique country profile

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Short name Mozambique
Official  name

Republic of Mozambique

Location Southeast  Africa
Capital Maputo
Population 24.5 million inhabitants
Area 812,379 sq km (313,661 sq miles)
Languages Portuguese (official), several indigenous languages, including Makhuwa
Religions

Chr Christianity, indigenous beliefs, Islam

 

Officially the Republic of Mozambique, Mozambique is in southeast Africa with the Indian Ocean to the east. Malawi and Zambia are to the northwest, Zimbabwe to the west, Swaziland and South Africa to the southwest, and Tanzania to the north.

 

 

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Mozambique is the 100th largest export economy in the world and the 123rd most complex economy according to the Economic Complexity Index (ECI). In 2014, Mozambique exported $7.27B and imported $10.3B, resulting in a negative trade balance of $3.04B. In 2014 the GDP of Mozambique was $15.9B and its GDP per capita was $1.13k.

 

Mozambique borders Malawi, Swaziland, Tanzania, South Africa, Zambia and Zimbabwe by land and Comoros and Madagascar by sea.

 

Trade Balance

As of 2014 Mozambique had a negative trade balance of $3.04B in net imports. As compared to their trade balance in 1995 when they still had a negative trade balance of $367M in net imports.

 

 

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Exports

The top exports of Mozambique are Raw Aluminum ($1.42B), Aluminum Bars ($1.05B), Petroleum Gas ($671M), Refined Petroleum ($603M) and Coke ($488M), using the 1992 revision of the HS (Harmonized System) classification. Its top imports are Refined Petroleum ($1.34B), Raw Aluminum ($513M), Ferroalloys ($321M), Delivery Trucks ($316M) and Telephones ($266M).

 

In 2014 Mozambique exported $7.27B, making it the 100th largest exporter in the world. During the last five years the exports of Mozambique have increased at an annualized rate of 25.4%, from $2.34B in 2009 to $7.27B in 2014.The most recent exports are led by raw aluminum which represents 19.5% of the total exports of Mozambique, followed by Aluminum Bars, which account for 14.4%.

Imports

In 2014 Mozambique imported $10.3B, making it the 104th largest importer in the world. During the last five years the imports of Mozambique have increased at an annualized rate of 21.9%, from $3.84B in 2009 to $10.3B in 2014. The most recent imports are Refined Petroleum ($1.34B), Raw Aluminum ($513M), Ferroalloys ($321M), Delivery Trucks ($316M) and Telephones ($266M).

 

Destinations

The top export destinations of Mozambique are South Africa ($1.16B),the Netherlands ($1.14B), India ($638M), China ($541M) and Singapore($474M). The top import origins are South Africa ($2.75B), China ($1.06B), Bahrain ($700M), the Netherlands ($595M) and Zimbabwe ($532M).

 

Origins

 

The top import origins of Mozambique are South Africa ($2.75B), China ($1.06B), Bahrain ($700M), the Netherlands ($595M) and Zimbabwe ($532M).

 

 

 

Finance and Investment

The New Metical is the official currency. Other major international currencies are also accepted and used in business transactions. The country is part of the Southern African Development Community (SADC). The World Bank and IMF have pointed to Mozambique as an aid success story however despite rapid economic growth, the country is still one of the world’s poorest. Mozambique remains dependent upon foreign assistance and over half the population live below the poverty line. Subsistence agriculture employs the vast majority of the country’s work force and smallholder agricultural productivity and growth is weak. Aluminum production from the Mozal smelter has significantly boosted export earnings in recent years.

 

 

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