Mozambican exports grew slightly in the first quarter of the year, to more than €1.540 billion, driven by the increase in gas sales abroad, which rose 70.1% compared to the same period in 2022.
A statistical report by the Bank of Mozambique on the balance of payments in the first quarter, consulted on Sunday (13) by Lusa, explains that this “positive evolution recorded in export revenues is justified, essentially, by the growth in sales of products exported” by the so-called Major Projects (GP).
“With emphasis on the extractive industry sector”, which includes natural gas, heavy sands and rubies, sapphires and emeralds, which increased by 280.1 million dollars (255 million euros), while the other sectors of the economy, namely the aluminium and energy manufacturing industry, recorded decreases in sales by 140.7 million dollars (127.6 million euros) and 8.8 million dollars (8 million euros), respectively.
Overall, Mozambique’s exports of goods in the first quarter totalled more than USD 1,699 million (EUR 1,542 million), an increase of USD 4.4 million (EUR 4 million) when compared to the same period in 2022.
Excluding GPs, agricultural products represented revenues of USD 103.9 million (EUR 94.3 million) for Mozambique, down USD 28.7 million (EUR 26 million) compared to 2022, “with emphasis on vegetables, tobacco, cotton, sugar and bananas”.
Coal exports represented the main cash inflow from Mozambican exports in the first quarter, at $460.9 million (€418.2 million), still a 35.5% drop compared to the same period in 2022, followed by natural gas, which yielded $341 million (€309.5 million), a year-on-year increase of 70.1%, according to the report.
Heavy sands, on the other hand, returned $120.1 million (€108.9 million) in revenue due to an increase in the volume exported by around 11%, while the price fell by 9%.
Lusa
