Mozambique has risen to 3rd place in Standard Bank’s latest Africa Trade Barometer (ATB), consolidating its position as one of the most attractive African countries for trade. The report, released this week, analyses the trade environment in ten African countries, assessing a series of factors that influence trade competitiveness on the continent, according to Engineering News.
The Africa Trade Barometer is based on seven broad categories, including trade openness, access to finance, macroeconomic stability, infrastructure, foreign trade, governance and the financial behaviour of traders.
Mozambique’s rise from 4th place reflects the country’s progress in critical areas such as investment in infrastructure and improvements in access to credit, allowing Mozambican companies to participate more in cross-border trade.
According to the report, Mozambique has benefited from efforts to improve the resilience of its infrastructure and promote economic diversification, which has boosted its ability to attract business and foreign investment.
These advances are particularly important in a context of climate change, where the country faces challenges such as droughts and floods, but continues to implement measures that strengthen its commercial competitiveness.
In addition to Mozambique, the barometer highlights the performances of South Africa and Namibia, which maintained their 1st and 2nd positions respectively. However, Mozambique’s rise is one of the most significant among the countries analysed, demonstrating a consistent effort to strengthen its position in the regional market.
The report also emphasises that, despite the progress, there are still challenges to be faced in the country, particularly with regard to high inflation and the dependence of some economic sectors. However, the general trend is positive, with GDP growth projections and a business environment that continues to improve.
The Africa Trade Barometer is considered an essential tool for assessing the performance of African countries in the context of continental trade, offering a detailed overview of the opportunities and challenges faced by the signatory nations of the African Continental Free Trade Agreement (AfCFTA).
