Mozambican exports rise 13 pct in 1st quarter

12 July 2010

Maputo, Mozambique, 12 July – Mozambican exports posted year on year growth of 13.3 percent to US$456.3 million in the first quarter of the year, according to figures from the Bank of Mozambique.

“In the first quarter of 2010, with the exception of shrimp and gas, the value of the remaining main export products increased mainly driven by a rise in their respective average prices on the international market as compared to the same period of 2009,” said the document entitled, Prices and Financial Climate of the central bank.

Thus, cashews, electricity, ilmenite, aluminium, sugar, cotton, tobacco, wood and bunkers (fuel bought in national ports by freight companies).

Exports by large projects totalled US$375.9 million, accounting for 82.4 percent of the total, whilst remaining exports totalled US$80.3 million.

Exports of aluminium ingots posted a rise of 48 percent in the first quarter of this year, totalling US$268.5 million as compared to US$182 million in the first three months of 2009, due to a rise of around 60 percent of the price of aluminium on the international market.

In 2009, Mozambique went through a difficult period in terms of placing its products on the international market, due to a drop in demand for raw materials, alongside the international financial crisis. (macauhub)