OVERVIEW
Mozambique is a southeastern African country, known for its rich natural resources, diverse culture, long coastlines and a complex history shaped by the Portuguese colonization and a prolonged civil war.
Today, the nation is steadily building its own identity through development, international cooperation and economic reforms with agriculture, mining and energy as the key sectors.
In 2023, Mozambique ranked
- 118th in terms of GDP, currently valued at $21B, out of 195 economies in the world;
- 95th in terms of total exports out of 226 countries;
- 189th in terms of GDP per capita, valued with current US$, out of 196 economies in the world.
ECONOMIC COMPLEXITY RANKING
EXPORT
In 2023 it was estimated that the principal products that were exported from Mozambique were
- Coal Briquettes - $2.72B;
- Petroleum Gas - $1.99B;
- Raw Aluminum - $1.41B;
- Gold - $683M;
- Precious Stones - $545M.
On the other hand, the commonest destinations for Mozambican exports were
- India - $2.13B;
- China - $1.56B;
- South Africa - $1.04B;
- United Arab Emirates - $649M;
- Thailand - $509M.
Lastly, in the latest year it was revealed that the country was the world’s largest exporter of Titanium Ore, with a total trade amount of $941M.
IMPORT
In 2023 the most imported products from other countries to Mozambique were
- Refined Petroleum - $3.42B;
- Chromium Ore - $1.69B;
- Ferroalloys - $1.06B;
- Iron Ore - $540M;
- Palm Oil - $447M.
These goods were mainly produced by
- South Africa - $6.13B;
- China - $2.43B;
- India - $2.28B;
- United Arab Emirates - $1.11B;
- Singapore - $619M.
Also, in the latest year Mozambique was the world’s largest importer of Fluorides, with an estimated $381M.
YEARLY TRADE
During the last five reported years, the exports of Mozambique have increased by $2.45B, from $9.81B in 2018 to $12.3B in 2023.
CONCLUSIONS
In 2023, Mozambique continued its economic recovery, supported by natural gas projects, foreign investment and infrastructure development.
Despite all the persistent challenges related to poverty, inequality and vulnerability to climate events, the country showed signs of resilience, stability, dignity and hope thanks to its brave people.
Source: https://oec.world/en
