Mozambique has US$ 746 million trade gap with SA

29 December 2005

Maputo, Mozambique, 29 Dec – Mozambique is the African nation with the biggest trading deficit with South Africa and only Britain, Japan and the Netherlands have bigger two-way trade gaps with Africa’s biggest economy, according to official figures.

In the first nine months of 2005, Mozambique had a trade deficit with South Africa of 4.7 billion rand (US$ 746 million), which will top the previous year’s total (4.8 billion rand) but is still below levels recorded in 2003 (5.3 billion rand) and 2002 (6.1 billion rand), the official Pretoria figures show.

Mozambique imported products and services from South Africa in the first three quarters worth 4.8 billion rand, a fall compared to previous years that puts Maputo 14th in the list of largest importers in the continent from South Africa.

Mozambique’s export basket to its southern neighbor until the end of September was valued at only 141 million rand, meaning Maputo lies 65th in the table of South Africa’s largest exporters.

Pretoria’s figures show that South Africa had a trade surplus of 849 million rand with Angola in the first three quarters of the year and Luanda is the 30th largest exporter and 21st biggest importer to South Africa.

South Africa’s trade with the remaining Portuguese-speaking African nations – Guinea-Bissau, Sao Tome and Cape Verde – is negligible. (macauhub)