The country’s imports of goods fell by 2.5% in the first quarter of 2024, totalling 127.2 billion meticals (2 billion dollars). This information is contained in the quarterly balance of payments report – first quarter of 2024, to which Diário Económico had access.
The document explains that the reduction in imports was seen in both the other sectors and in Major Projects (GP), with decreases of 1.8 billion meticals and 1.4 billion meticals, respectively.
According to the BoM report, intermediate goods, consumer goods and capital goods were the main categories analysed. Intermediate goods accounted for 30.2 per cent of total imports, with expenditure of 38.6 billion meticals, a drop of 16.6 per cent compared to the same period last year. This decrease was mainly due to lower spending on fertilisers, electricity, fuel and raw aluminium, which fell 78%, 28.8%, 18.9% and 11.0% respectively. However, imports of construction materials (except cement) and tar and bitumen increased by 48.6 per cent and 10.8 per cent respectively.
Consumer goods, which accounted for 23.4 per cent of import expenditure, fell by 7.4 per cent to 29.9 billion meticals. The report notes significant reductions in imports of wheat (72.8 per cent), edible oil (40.2 per cent) and furniture and medical surgical materials (26.6 per cent). On the other hand, there were increases in imports of rice (90.8 per cent), car accessories (29.6 per cent) and medicines and reagents (5.1 per cent).
“The report notes significant reductions in imports of wheat (72.8 per cent), edible oil (40.2 per cent) and furniture and medical surgical materials (26.6 per cent).On the other hand, there were increases in imports of rice (90.8 per cent), car accessories (29.6 per cent) and medicines and reagents (5.1 per cent)”
For capital goods, which accounted for 19.7 per cent of the total import bill, there was an increase of 9.5 per cent, corresponding to 25.2 billion meticals. This increase was driven by higher purchases of various types of machinery, especially by companies outside the GP category.
The document also analyses the main origins of imports. South Africa is mentioned as the main supplier, accounting for 23.2 per cent of the total, with a value of 30.5 billion meticals. Among the products imported are electricity, cars for transporting goods and electrical appliances. China, with a 17.9 per cent share, saw a 21.4 per cent increase in imports, including tractors, ships, pesticides and agricultural materials. The United Arab Emirates, with 8.1%, saw its exports to Mozambique fall by 37.9%, particularly fuels and agricultural equipment. India, accounting for 7.5 per cent, saw a reduction of 1.9 per cent, with imports of fuel, rice and medicines. Singapore, with 5.4% of imports, saw a reduction of 9.2%, including fuels and raw aluminium.
