Coal increases value of Mozambique’s exports

10 October 2011

Maputo, Mozambique, 10 Oct – The Mozambican government expects growth of 17 percent in goods exports, reaching a level of US$3.02 billion, the country’s Finance Minister, Manuel Chang said in Maputo according to the Notícias newspaper.

According to the minister the growth of around 17 percent of goods exports, is also bolstered by the start of coal exports in September to Dubai in the United Arab Emirates.

In terms of coal mined and exported to consumer markets by Vale Moçambique, an initial estimate points to the State receiving around US$20 million in taxes.

Final figures on the mining sector’s contribution to GDP, particularly coal, will only be known at the end of the year after an evaluation of real production is made.

However, projections point to the mining sector increasing its current contribution of less than 3 percent to GDP rising to 10 or 11 percent within three years.

Overall projections for growth in revenues in 2012, according to Chang, are 0.7 percentage points, or the equivalent of 16 billion meticals. Revenues will thus rise from 21.3 to 22 percent of GDP. (macauhub)