India consolidated its position as the main destination for Mozambican exports during the first half of 2024, accounting for 19.8 per cent of the country’s total foreign sales, worth 48.8 billion meticals (763.2 million dollars). The data is contained in a report by the Bank of Mozambique (BoM) on foreign trade between January and June, according to Lusa.
The document reveals that the main products exported to India were natural gas and coal, the two mainstays of Mozambique’s exports, followed by dried vegetables and cashew nuts.
South Africa comes second on the list of main buyers, acquiring 16 per cent of total exports, valued at 39.5 billion meticals. Among the products sold to the South African market are electricity, natural gas, coal and bananas.
China, in turn, ranked third, with purchases of 30.1 billion meticals, equivalent to 12.2 per cent of Mozambican exports. The main products exported to China include natural gas, heavy sands and coal.
In total, Mozambican exports during the first half of the year totalled 246.3 billion meticals, an increase of 3.2% compared to the same period in 2023.
On the other hand, imports fell by 2.6% year-on-year, totalling 269 billion meticals. South Africa led sales to Mozambique, with 24.6% of total imports, supplying electricity, goods transport vehicles and iron bars and maize, worth 66.1 billion meticals.
China was Mozambique’s second largest supplier during the period, with a 16.2 per cent share of imports, valued at 43.6 billion meticals, with a focus on tractors, heavy machinery, pesticides and cars.
Singapore ranked third, accounting for 7.1% of total imports, which totalled 19.2 billion meticals. The main products imported from Singapore include fuel, tar, petroleum bitumen, rice and cement.
The BoM report emphasises that the positive performance of exports reflects the continued demand for Mozambique’s natural resources, but warns of the challenges in the trade balance due to the decrease in imports.
