Decline in Mozambican exports to Portugal

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Decline in Mozambican exports to Portugal

2:08 CAT | 16 Apr 2024

FILE - For illustration purposes only. [File photo: Corporate finance institute]

Internal factors, associated with the international economic situation, have contributed to the decline in Mozambican exports to Portugal over the past ten years.

This information was recently shared by the vice president of the CTA, Maria Abdula, when speaking in Maputo about the agenda of a Mozambique-Portugal business mission, scheduled to be in the European country from April 22nd to 24th, seeking partnerships for business.

She explained that “ten years ago, national companies exported just over 100 million dollars to Portugal, five times more than the current value. The same trend is observed in imports, which have halved.”

Overall, bilateral trade and investments have decreased, although both countries continue to offer rich opportunities for companies from both economies. Maria Abdula lamented that the phenomenon of kidnappings, occurring in the country, is causing investors to abandon their projects, resulting in unemployment for five thousand to ten thousand workers.

However, the source did not mention the number of entrepreneurs who have abandoned their businesses in Mozambique.

On the other hand, the director of the Portugal-Mozambique Chamber of Commerce, Alcina Matos, stated that the international economic situation is unfavorable almost worldwide, including for Portuguese investors.

Source: Noticias