The annual Balance of Payments report, published on the website of the Bank of Mozambique (BdM), indicates that revenues from large-scale projects reached $6.2 billion in 2024. Specifically, gas contributed $241 million and electricity $31 million.
“The growth in natural gas revenues is linked to increased exports from Area 4 of the Rovuma Basin, despite a 15% drop in the average international market price. As for electricity, the increase continues to be supported by a rise in export prices applied to the main clients by the leading exporter in this sector,” reads the document analyzed by Diário Económico.
According to the central bank, the coal sector experienced a decline of around 10%, influenced by a drop in quality due to the incomplete restructuring of the factory, worsened by a 19% decrease in the international market price. Heavy sands sales also fell by 9% in 2024, resulting from the low mineral content produced by the sector’s leading company and the post-election tensions that affected production. There was also a 15% drop in international prices.
“The analysis of exports by economic sector shows that extractive industry products had a significant impact on overall performance, with a decrease of $178 million (4%), driven by the drop in revenues from rubies, coal, and heavy sands,” the report adds.
Text: Cleusia Chirindza
