The beach in Mozambique

Mozambique Economy

Mozambique's economy in numbers:

Nominal GDP of USD 18.4 billion in 2022.

GDP per capita of USD 560 compared to the global average of USD 10,589.

Average real GDP growth of 4.3% over the last decade.

Share of the region's population
Share of the region's GDP

Economic structure:

In 2020, services accounted for 53% of overall GDP, manufacturing 8%, other industrial activity 13%, and agriculture 26%. Looking at GDP by expenditure, private consumption accounted for 65% of GDP in 2020, government consumption 21%, fixed investment 58%, and net exports -44%.

GDP by economic sector
GDP by type of expenditure

International trade:

In 2020, manufactured products made up 6% of total merchandise exports, mineral fuels 36%, food 17%, ores and metals 39% and agricultural raw materials 1%, with other categories accounting for 1% of the total. In the same period, manufactured products made up 63% of total merchandise imports, mineral fuels 15%, food 20%, ores and metals 1% and agricultural raw materials 1%, with other goods accounting for 0% of the total. Total exports were worth USD 8 billion in 2022, while total imports were USD 13 billion.

Key exports
Key imports
Key export partners
Key import partners

Economic growth:

The economy recorded average annual growth of 4.3% in the decade to 2022. To read more about GDP growth in Mozambique, go to our dedicated page.

Fiscal policy:

Mozambique's fiscal deficit averaged 4.3% of GDP in the decade to 2022. Find out more on our dedicated page.


The unemployment rate averaged 3.5% in the decade to 2022. For more information on Mozambique's unemployment click here.


Inflation averaged 6.6% in the decade to 2022. Go to our Mozambique inflation page for extra insight.

Monetary Policy:

Mozambique's monetary policy rate ended 2022 at 17.25%, down from 19.50% a decade earlier. See our Mozambique monetary policy page for additional details.

Exchange Rate:

From end-2012 to end-2022 the metical weakened by 53.5% vs the U.S. dollar. For more info on the metical, click here.
The economy grew 5.9% annually in Q3 (Q2: +4.7%), spearheaded by an over-40% surge in mining output. In Q4, growth likely remained robust, lifted by the energy sector. Elsewhere in the economy, activity was likely muted: In October–December, the private-sector PMI averaged in contractionary terrain. In other news, in November, Mozambique closed a deal to build a new USD 5 billion hydropower plant on the Zambezi river, which should boost investment and domestic energy generation in the longer term. Meanwhile, in December, the minister of economy and finance submitted a sovereign wealth fund bill to Parliament, aiming to manage revenues from upcoming LNG production. The fund would ensure fiscal stability amid commodity price fluctuations. The fund’s smooth functioning is part of the country’s extended credit facility arrangement with the IMF, boding well for disbursements ahead.
Projections out to 2033.

40 indicators covered including both annual and quarterly frequencies.

Consensus Forecasts based on a panel of 11 expert analysts.

Want to get insight on the economic outlook for Mozambique in the coming years? FocusEconomics collects projections out to 2033 on 40 economic indicators for Mozambique from a panel of 11 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Mozambique economy. To download a sample report on the Mozambique's economy, click here . To get in touch with our team for more information, fill in the form at the bottom of this page .

Mozambique Datos económicos

2018 2019 2020 2021 2022
Población (millones) 29.4 30.3 31.2 32.1 33.0
PIB (en millones de dólares) 14.8 15.4 14.2 15.8 -
PIB per cápita (USD) 503 509 455 491 -
PIB (MZN bn) 896 963 983 1,033 -
Crecimiento económico (PIB nominal, var. anual) 6.5 7.5 2.2 5.0 -
Crecimiento económico (PIB, var. anual) 3.4 2.3 -1.2 2.3 4.1
Consumo privado (% var. anual) 4.9 3.1 -1.9 6.5 -
Consumo público (var. anual) -5.8 3.6 -21.5 -4.2 -
Inversión fija (% var. anual) 42.4 3.2 -3.4 -2.7 -
Exportaciones (G&S, % var. anual) 47.9 -9.5 -27.0 7.5 -
Importaciones (G&S, % var. anual) 43.4 -1.5 -22.4 2.8 -
Saldo fiscal (% del PIB) -5.6 0.1 -5.4 -3.7 -
Deuda pública (% del PIB) 106.7 99.0 120.0 106.4 -
Inflación (IPC, % var. anual, eop) 3.5 3.8 4.2 7.2 10.9
Inflación (IPC, % var. anual, aop) 3.9 2.8 3.5 6.4 10.3
Tipo de política (%, eop) 14.25 12.75 10.25 13.25 17.25
Tipo de cambio (MZN por USD, eop) 61.6 62.4 74.6 64.1 64.1
Tipo de cambio (MZN por USD, aop) 60.5 62.4 69.3 65.6 64.1
Balanza por cuenta corriente (en millones de dólares) -4.4 -2.9 -3.9 -3.6 -6.6
Balanza por cuenta corriente (% del PIB) -29.9 -19.1 -27.3 -22.9 -
Balanza comercial de mercancías (en millones de USD) -1.0 -2.1 -2.3 -2.3 -5.2
Exportaciones de mercancías (en millones de dólares) 5.2 4.7 3.6 5.6 8.2
Importaciones de mercancías (en millones de dólares) 6.2 6.8 5.9 7.8 13.3
Exportaciones de mercancías (% var. anual) 10.0 -10.2 -23.1 55.6 46.6
Importaciones de mercancías (% var. anual) 18.1 9.5 -12.9 33.2 70.2
Inversión extranjera directa (en millones de dólares) 2.7 2.2 3.0 5.1 -
Reservas internacionales (en millones de dólares) 3.0 3.8 4.0 3.4 2.9
Reservas internacionales (meses de importaciones) 5.9 6.8 8.2 5.3 2.6
Deuda externa (en millones de dólares) 50.2 54.7 59.1 62.8 -
Deuda externa (% del PIB) 339.0 354.6 416.0 398.8 -

Informe de muestra gratuito

¿Interesado en informes, análisis y datos económicos? FocusEconomics proporciona datos, previsiones y análisis para cientos de países y materias primas. Solicite ahora su informe de muestra gratuito.

Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest