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Mozambique

Republica de Mocambique

Last updated: 2026-03-28 (today)

Budget

note

note: central government revenues and expenses (excluding grants/extrabudgetary units/social security funds) converted to US dollars at average official exchange rate for year indicated

revenues

$6.243 billion (2024 est.)

expenditures

$7.223 billion (2024 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2022

$9.409 billion (2022 est.)

Exports 2023

$9.405 billion (2023 est.)

Exports 2024

$9.358 billion (2024 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2022

$15.932 billion (2022 est.)

Imports 2023

$11.18 billion (2023 est.)

Imports 2024

$10.488 billion (2024 est.)

Industries

aluminum, petroleum products, chemicals (fertilizer, soap, paints), textiles, cement, glass, asbestos, tobacco, food, beverages

Labor force

15.173 million (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

note

note: central government debt as a % of GDP

Public debt 2022

76.6% of GDP (2022 est.)

Remittances

note

note: personal transfers and compensation between resident and non-resident individuals/households/entities

Remittances 2022

0.9% of GDP (2022 est.)

Remittances 2023

1.2% of GDP (2023 est.)

Remittances 2024

1.2% of GDP (2024 est.)

Exchange rates

Currency

meticais (MZM) per US dollar -

Exchange rates 2020

69.465 (2020 est.)

Exchange rates 2021

65.465 (2021 est.)

Exchange rates 2022

63.851 (2022 est.)

Exchange rates 2023

63.886 (2023 est.)

Exchange rates 2024

63.905 (2024 est.)

Debt - external

note

note: present value of external debt in current US dollars

Debt - external 2023

$8.274 billion (2023 est.)

Economic overview

low-income East African economy; subsistence farming dominates labor force; return to growth led by agriculture and extractive industries; Islamist insurgency threatens natural gas projects in north; ongoing foreign debt restructuring and resolution under IMF Highly Indebted Poor Countries (HIPC) initiative

Unemployment rate

note

note: % of labor force seeking employment

Unemployment rate 2022

3.6% (2022 est.)

Unemployment rate 2023

3.6% (2023 est.)

Unemployment rate 2024

3.6% (2024 est.)

Exports - partners

India 18%, China 13%, South Africa 9%, UAE 6%, Thailand 4% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

South Africa 34%, China 14%, India 13%, UAE 6%, Singapore 3% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: data in 2021 dollars

Real GDP per capita 2022

$1,500 (2022 est.)

Real GDP per capita 2023

$1,500 (2023 est.)

Real GDP per capita 2024

$1,500 (2024 est.)

Real GDP growth rate

note

note: annual GDP % growth based on constant local currency

Real GDP growth rate 2022

4.4% (2022 est.)

Real GDP growth rate 2023

5.4% (2023 est.)

Real GDP growth rate 2024

1.9% (2024 est.)

Agricultural products

cassava, maize, sugarcane, tomatoes, beans, potatoes, sweet potatoes, bananas, coconuts, onions (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

coal, natural gas, aluminum, gold, precious stones (2023)

note: top five export commodities based on value in dollars

Imports - commodities

refined petroleum, chromium ore, iron alloys, iron ore, palm oil (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

Current account balance 2022

-$6.367 billion (2022 est.)

Current account balance 2023

-$2.207 billion (2023 est.)

Current account balance 2024

-$2.498 billion (2024 est.)

Taxes and other revenues

22.7% (of GDP) (2022 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$22.417 billion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

69% (2024 est.)

government consumption

17.1% (2024 est.)

investment in inventories

0% (2024 est.)

investment in fixed capital

24.1% (2024 est.)

exports of goods and services

42.7% (2024 est.)

imports of goods and services

-52.9% (2024 est.)

Population below poverty line

62.8% (2019 est.)

note: % of population with income below national poverty line

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

Inflation rate (consumer prices) 2022

10.3% (2022 est.)

Inflation rate (consumer prices) 2023

7.1% (2023 est.)

Inflation rate (consumer prices) 2024

4.1% (2024 est.)

Industrial production growth rate

2.9% (2024 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: data in 2021 dollars

Real GDP (purchasing power parity) 2022

$48.222 billion (2022 est.)

Real GDP (purchasing power parity) 2023

$50.844 billion (2023 est.)

Real GDP (purchasing power parity) 2024

$51.786 billion (2024 est.)

Youth unemployment rate (ages 15-24)

male

7.5% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

7.4% (2024 est.)

female

7.2% (2024 est.)

Reserves of foreign exchange and gold

note

note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars

Reserves of foreign exchange and gold 2022

$2.939 billion (2022 est.)

Reserves of foreign exchange and gold 2023

$3.637 billion (2023 est.)

Reserves of foreign exchange and gold 2024

$3.843 billion (2024 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

24.6% (2024 est.)

services

38.4% (2024 est.)

agriculture

26.3% (2024 est.)

Household income or consumption by percentage share

note

note: % share of income accruing to lowest and highest 10% of population

lowest 10%

1.7% (2019 est.)

highest 10%

41.1% (2019 est.)

Gini Index coefficient - distribution of family income

note

note: index (0-100) of income distribution; higher values represent greater inequality

Gini Index coefficient - distribution of family income 2019

50.3 (2019 est.)