Mozambique’s imports should total US$8 billion in 2014

7 January 2014

Imports should cost Mozambique nearly US$8 billion in 2014, with exports rising to just over US$4.7 billion, indicate government projections disclosed by the Maputo-based daily Notícias.

Imports of machinery and other goods associated to natural resource exploitation account for the largest share of Mozambique’s trade balance. The government forecasts 17 percent growth in this area, while in other sectors the pace will be around 8 percent.

Foreign direct investment is indirectly associated to import growth. It should reach US$4.1 billion, rising 21 percent year-on-year.

On the other hand, the Mozambican government predicts that exports will total nearly US$4.7 billion, strongly driven by the traditional sector, which should account for a US$1.6 billion share, indicating growth of 26 percent over 2013.

The country should nevertheless find the most revenue in the sector associated to its major projects (coal and aluminium), which account for a total of US$3.1 billion, up nearly 18 percent compared to the previous year. (macauhub)