Mozambique’s economic plan outlines export growth of 15 pct

5 January 2011

Maputo, Mozambique, 5 Jan – Preliminary estimates included in Mozambique’s Economic and social plan for 2011 show that exports are expected to total US$2.402 billion, representing year on year growth of 15 percent.

Large exports (aluminium, electricity and others) may see growth of 20 percent and traditional exports of 1.3 percent.

It is also expected that the value of exports from large projects will rise to US$1.768 billion, driven by exports of coal from Tete province as well as a rise in foreign sales of ilmenite and natural gas.

Improvement in power and aluminium prices may have a determining effect on the rise in exports according to the projections in the 2011 Economic and Social Plan.

Projections also point to exports of large projects increasing their weight in total exports by 3 percentage points, rising to 74 percent of the total.

In terms of imports a rise of 10 percent is expected in 2011 as compared to what had been projected for 2010, and may reach US$3.948 billion, mainly as a result of increased purchases by the large projects.

The weight of imports that are not included in the category of large projects may remain at around 78 percent of imports.

The projection for the rise in value of imports is based on the expected increase in capital and consumer goods by 7 percent and 5 percent, respectively. (macauhub)