Mozambique: Per capita GDP stood at US$467 in 2020

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Mozambique: Per capita GDP stood at US$467 in 2020

2:25 CAT | 27 May 2021

File photo: Lusa

Figures published this week by the National Statistics Institute (INE) indicate that Mozambique’s per capita GDP in 2020 was US$467.00, or 32,412 Meticais at the 2020 average exchange rate of 69.47 meticais per dollar.

The figures represent a fall of US$55.00 compared to 2019, in which the per capita GDP was US$522.00 (32,634 meticais).

Per capita GDP, it should be noted, is the indicator that represents what each person in a given country “produced” during a certain period, being deducted from the total wealth produced in that same location. In this case, the INE figures reflect what each Mozambican “produced” during 2020, an amount calculated with reference to the total wealth produced by the country.

Preliminary data from INE indicate that, in 2020, the country produced 974,511 million meticais, and on December 31, had 30,066,648 inhabitants. In 2019, Mozambique produced 962,621 million meticais, and had an estimated 29,318,301 inhabitants.

Per capita GDP is generally considered an indicator of the standard of living. Countries that have a high per capita GDP tend to have higher Human Development indexes.

The Human Development Report in 2020 placed Mozambique in 181st first of a total of 189 countries evaluated.

It should be noted, however, that the 2017 IV General Population and Housing Census gave the national average age as 16.6 years. A large part of the population was therefore economically inactive, depressing production estimates.

Source: Carta de Moçambique