Area: 799,380 km2 (308,642 m2)
Language: Portuguese, Indigenous Dialects
GDP per Capita: U.S. $1,100
Imports: $3.84b (2011 est.)
Commodities: Machinery and Equipment, Vehicles, Fuel, Chemicals, Metal Products, Foodstuffs, Textiles
Partners: South Africa, China, Australia, India, United States, Portugal (2010)
Exports: $ 2,64b (2011 est.)
Commodities: Aluminum, Prawns, Cashews, Cotton, Sugar, Citrus, Timber, Bulk Electricity
Partners: South Africa, Italy, Spain, Belgium, UK, China, Zimbabwe (2008)
Best Prospects: Oil/Gas Machinery and Services, Mining Equipment, Agriculture Machinery and Equipment, Renewable Energy Equipment, Construction Machinery and Equipment, Fishing Boats and Fishing Equipment for Both Large Small Scale Fishing, Fish Processing Equipment, Forest Machinery, Travel & Tourism Services,Catering Equipment, Sea Sports Equipment.
Economy: Mozambique grew at an average annual rate of 9% in the decade up to 2007, one of Africa's strongest performances. However, heavy reliance on aluminum, which accounts for about one-third of exports, subjects the economy to volatile international prices. The sharp decline in aluminum prices during the global economic crisis lowered GDP growth by several percentage points. Despite 8.3% GDP growth in 2010, the increasing cost of living created some social tensions at the end of 2010, after fuel, water, electricity, and bread price increases were announced. In an attempt to contain the cost of living, the government implemented subsidies, decreased taxes and tariffs, and instituted other fiscal measures. Real growth of 7.2% was achieved in 2011.
Highlights: In July 2007 Millennium Challenge Corporation signed a $506.9 million compact with the Government of Mozambique to reduce poverty and encourage economic development. As Mozambique’s economy has one of the fastest growth rates in Africa, MCC is focusing on developing water and sanitation, transportation, and land tenure services.
Agriculture is responsible for 80% of national employment. There is a rising need for equipment, which will only continue to increase.
The electrical grid reaches only 14% of the population. With the support of Mozambique’s Vice Minister of Energy, solar power will create renewable energy to bring power to the countryside and extend the national grid.
The 2nd largest dam in Africa, Mozambique’s Cahora Bassa supplies clean energy to many southern Africa countries. Plans to establish more hydropower dams to meet the region’s energy demand are underway.