Just over a third of Mozambique’s adult population has a bank account
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Exports from Mozambique to China grew by 29.08 per cent to 309 million US dollars over the first seven months of this year, compared with the same period last year.
However, a large trade deficit with China remains with imports totalling 719 million dollars (a 4.81 per cent drop in imports).
According to figures published by the Chinese customs service, overall trade between the two countries increased by 3.35 per cent to 1.028 billion dollars. This makes Mozambique the fourth largest trading partner that China has in the Lusophone world after Brazil, Angola, and Portugal.
Brazil was by far China’s most important trading partner in the Lusophone world, reaching almost fifty billion dollars during the period January to July. This was a 30.51 per cent increase compared with the first seven months of 2016. However, the largest increase in trade was with Angola, which saw an increase of 48.61 per cent to 13.379 billion dollars.
Trade with the third largest Lusophone trading partner, Portugal, grew by 1.19 per cent to 3.177 billion dollars.
In total, trade between China and the eight Portuguese speaking countries came to 67.616 billion dollars in the first seven months of the year – a 31.29 per cent increase. This is all the more notable given the contraction that took place over the previous two years. Last year trade shrank by 7.72 per cent, whilst in 2015 the contraction was a devastating 25.73 per cent.
In 2016, annual trade between Mozambique and China collapsed by 22.29 per cent. Imports fell by 28.19 per cent to 1.379 billion dollars whilst exports to China still managed to increase by 6.17 per cent to 479 million dollars.
The other four countries, Cape Verde, Guinea Bissau, East Timor and Sao Tome and Principe had only 127 million dollars of trade with China.Source: AIM
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