70% of 'Made in Mozambique' edible oil, flour and sugar are fortified
Mozambique: Imports grow by 75% in 2022
8:29 CAT | 12 Apr 2023
FILE - For illustration purposes only. [File photo: Lusa]
In 2022, Mozambique continued to import more goods and services from other countries than it exported, causing a deficit in the trade balance.
Figures released by the government yesterday indicate that the country registered a 76% increase in imports in 2022, up from US$8,275 billion in 2021 to US$14,563 billion.
Speaking after the 12th Ordinary Session of the Council of Ministers, Cabinet spokesperson Filimão Suazi explained that the increase in imports was largely influenced by investment in the Coral Sul FLNG floating platform and the purchase of raw materials for domestic industry.
But exports, Swazi said, grew 58% from US$5.85 billion to US$8.89 billion, thanks to consistent agricultural growth and preferential agreements between Mozambique and other countries currently in force.
Agricultural produce accounts for more than 10% of Mozambique’s exports.
The net 2022 outcome, Suaze revealed, was a trade deficit in goods of US$6,364 billion.
By Evaristo Chilingue
Source: Carta de Moçambique
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