Current Account in Mozambique

Mozambique Current Account | Economic News & Forecasts

Mozambique - Current Account

Available data signals that growth remained weak in the second quarter. Although economic activity gathered pace in May, its average growth in April–May languished well below that of Q1, dragged down by faltering activity in the commerce and transport sectors. This, coupled with businesses turning more pessimistic in Q2 on weaker demand expectations, alludes to a loss of dynamism in the private sector. Meanwhile, the construction of a multi-billion-dollar LNG project in the Rovuma basin, which will now be operated by French giant Total amid its acquisition of U.S. energy firm Anadarko’s assets in Africa, began on 5 August. The joint venture is set to make Mozambique the largest producer and exporter of gas in the continent, boding well for the country’s economic prospects in the medium-term.

Mozambique - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-36.7  -32.7  -36.9  -32.1  -19.5  

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Mozambique Current Account Chart

Mozambique Current Account
Note: Current account balance as % of GDP.
Source: Bank of Mozambique

Mozambique Facts

Exchange Rate61.700.48 %Sep 04
Stock Market0.10.0 %Sep 04

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