Mozambican exports fall 36 percent in first quarter

24 August 2009

Maputo, Mozambique, 24 Aug – Mozambican exports fell 36 percent in value in the first quarter of the year to US$348 million, the chairman of the Institute for Mozambican Exports (Ipex), João Macaringue.

According to Macaringue, in the first quarter of last year, Mozambican exports totalled around US$544 million.

The fall in exports between January and March of this year was affected by the reduction of sales of aluminium, natural gas and electricity, the main products Mozambique exports, Macaringue added.

To revert the negative trend seen in exports over the last few months, Macaringue said that new products should be focused upon, mainly agricultural products, noting the importance of “adding value” to that export category.

Macaringue recognised, however, that “the situation of exports is not largely going to change before the end of the year, because marginal economies, such as Mozambique, will feel the effects of the crisis for a much longer period.” (macauhub)