Mozambique

Mozambique, with Portuguese being its official language, is located on the southeastern coast of Africa, bordered by Tanzania, Malawi, Zambia, Zimbabwe, South Africa and Eswatini, with a long Indian Ocean coastline in the east. The country is strategically located with access to the sea, offering a significant advantage compared to the land-locked neighboring countries, which are dependent on Mozambique to access the global market. Mozambique has a strong economic link to South Africa.

 

The nominal Gross Domestic Product (GDP) of Mozambique is USD $14.02 billion, which registered the first contraction in 28 years by an estimate of 0.5% in 2020.  

 

The largest sectors in Mozambique are the services, which account for 39.9% of the total GDP, agriculture accounting for 26.03% of the GDP, being the main pillar of the country’s economy, and the industry sector contributing an estimated 22.86%. Major Mozambican industries include aluminum, coal, petroleum products, food, beverages and tourism. Mozambique holds the third-highest proven reserve of natural gas in Africa, with reserves of an estimated circa 100 trillion cubic feet.