Mozambican exports rise 40 pct in first half driven by aluminium and electricity

19 September 2006

Maputo, Mozambique, 19 Sept – Mozambique’s exports increased 40 percent in the first half of the year, against the same period of last year, thanks to increased sales of aluminium and electricity to foreign countries, which reduced Mozambique’s trade deficit.

From January to June of this year, Mozambique sold goods and services abroad to the value of US$1.12 billion, while in the same period of 2005 exports had totaled US$802 million, figures from the Bank of Mozambique showed.

Aluminum exports, from the Mozal factory, increased by US$133 million, to US$637.8 million.

According to the Bank of Mozambique, sales of electricity, generated at the Cahora Bassa hydroelectric dam, increased from US$68.1 million to US$83.4 million.

There were also sales increases of natural gas, to US$44.2 million, and of shrimp, which almost doubled to US$46.8 million.

IN the first half, imports totaled US$1.26 million, a quarter more than in the same period of last year, mainly due to imports of machinery and equipment, which increased by 92 percent to US$323.3 million.

Imports of services rose by some 20 percent to US$199 million, while fuel imports rose to US$92.5 million, or 55 percent more than in the first half of 2005.

Mozambique’s trade deficit fell by 27 percent to US$166 million, according to the Bank fo Mozambique’s figures.

In August Mozambique’s inflation slowed to 3.96 percent, against 4.23 percent in the previous month, due to food prices. (macauhub)