India Emerges as Top Export Destination for Mozambique

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According to the 2024 balance of payments report from the Bank of Mozambique, overall, Mozambican exports fell by 0.8% compared to the previous year, to USD 8.211 billion (€7.202 billion), while imports fell by 8.8%, to USD 8.375 billion (€7.346 billion).

India bought more exports from Mozambique than any other country in 2024, worth USD 1.469 billion (€1.288 billion), equivalent to 18% of Mozambican exports, according to official data compiled by Lusa on Monday.

According to the 2024 balance of payments report from the Bank of Mozambique, overall, Mozambican exports fell by 0.8% compared to the previous year, to USD 8.211 billion (€7.202 billion), while imports fell by 8.8%, to USD 8.375 billion (€7.346 billion).

India remained the main destination for Mozambique’s exports, namely natural gas, coal, dried or whole leguminous vegetables and cashew nuts. However, China has been approaching the lead, with purchases from Mozambique in 2024 of USD 1,349 million (€1,262 million) in natural gas, oilseeds and fruits, heavy sands and coal.

India and China are followed by South Africa, with imports natural gas, electricity, coal and bananas, amounting to USD 1,210 million (€1,061 million), and then by Singapore, with a share of 9% of all exports made by Mozambique in 2024, namely aluminium bars, natural gas, tobacco and seeds, totalling USD 715 million (€627 million).

In the opposite direction, South Africa continues to be the country that sells the most to Mozambique, accounting for 25% of the total in 2024, reaching USD 2,094 million (€1,836 million) last year, mainly electricity, cars, iron bars and cereal flour.

South Africa is followed by China, which purchased 17% of all imports made by Mozambique in 2024, worth USD 1,360 million (€1,193 million), in tractors, cars, heavy machinery and pesticides, and then India, with US$569 million (€499 million) in fuel, rice, medicines, cars and railway wagons.

The Mozambican government is considering a free trade agreement with the United States of America (USA) administration as a way of negotiating a reduction in tariffs imposed in early April, AIM Moçambique reports.

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Government spokesman Inocêncio Impissa points to the renewal of the African Growth and Opportunity Act (AGOA) as one of the ways to achieve this goal. AGOA benefits Mozambique and other sub-Saharan African countries and allows duty-free access to the US market for a wide range of products.