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BoM: Foreign Direct Investment in Mozambique Down 32% to $350,4M in Q2, Mainly Due to Decline in Extractive Sector

BoM: Foreign Direct Investment in Mozambique Down 32% to $350,4M in Q2, Mainly Due to Decline in Extractive Sector

In the second quarter of 2023, Mozambique saw a 32% reduction in the flow of Foreign Direct Investment (FDI), totalling 350.4 million dollars compared to 460.1 million in the previous quarter.

According to the data contained in the monthly Statistical Information report, recently released by the Bank of Mozambique (BdM) and to which DE had access, the drop was influenced by the almost 50 per cent reduction in investments in the extractive industry, especially in Major Projects (GP).

“In the period under review, the flow of FDI in Major Projects totalled 278.8 million dollars, compared to 414.6 million dollars in the previous quarter,” the document said.

Breaking down FDI by instrument, “Other Capital recorded investment of 297.5 million dollars in the period under review, 136 million dollars less than in the first quarter”.

The report highlights, however, that South Africa was Mozambique’s main FDI partner, with a weight of 39.1 per cent, followed by Mauritius, the Netherlands and the United Arab Emirates, with a weight of 34.3 per cent, 17.2 per cent and 8.9 per cent of the country’s total (net) FDI, respectively.

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