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Preliminary data indicate that the Mozambican economy reduced the demand for external savings to finance its consumption and investment needs by 16.9% in the first quarter, with the combined balance of the current and capital accounts rising to USD 628 million
Mozambique improved its trade deficit by almost 21% in the first quarter, to USD 646.4 million, according to the central bank’s report on the balance of payments.
According to the document from the Bank of Mozambique, preliminary data indicate that the Mozambican economy reduced the demand for external savings to finance its consumption and investment needs by 16.9% in the first quarter, with the combined balance of the current and capital accounts rising to USD 628 million.
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It adds that the reduction of the current account deficit essentially reflects the fall recorded in the negative balance of the goods account by 29.0%, justified by the increase in exports by 3.1%, compared to the decrease in imports by 2.5%.
