Mozambique: Rise, but So Do Imports

12 April 2023
Agencia de Informacao de Mocambique (Maputo)

Maputo — The value of Mozambique's exports grew by 58 per cent in 2022, according to the spokesperson for the government, Deputy Justice Minister Filimao Suaze.

Speaking to reporters on Tuesday, after the weekly meeting of the Council of Ministers (Cabinet), Suaze said that the value of the country's exports rose from 5.184 billion dollars in 2021, to 8.199 billion in 2022.

Suaze attributed this rise to a continual growth in agricultural production, which now accounts for 10 per cent of all exports, as well as to increased prices for raw materials on the international market.

But there was also a 76 per cent increase in Mozambique's imports, rising from 8.275 billion dollars in 2021 to 14.563 billion in 2022. The main item in this increase is the floating liquefied natural gas (LNG) platform imported from Korea.

Taken together, these figures mean that Mozambique's balance of trade deteriorated in 2022. The deficit on the balance of trade was 6.364 billion dollars.

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