Country Summary: Mozambique (Republic of Mozambique)
Country Name: Mozambique (Republic of Mozambique)
Capital: Maputo
Government Type: presidential republic
Background: In the first half of the second millennium A.D., northern Mozambican port towns were frequented by traders from Somalia, Ethiopia, Egypt, Arabia, Persia, and India. The Portuguese were able to wrest much of the coastal trade from Arab Muslims in the centuries after 1500 and to set up their own colonies. Portugal did not relinquish Mozambique until 1975. Large-scale emigration, economic dependence on South Africa, a severe drought, and a prolonged civil war hindered the country's development until the mid-1990s. The ruling Front for the Liberation of Mozambique (FRELIMO) party formally abandoned Marxism in 1989, and a new constitution the following year provided for multiparty elections and a free market economy.
Continent: Africa
Population: 32,513,805 (2023 est.)
Ethnic Groups: African 99% (Makhuwa, Tsonga, Lomwe, Sena, and others), Mestizo 0.8%, other (includes European, Indian, Pakistani, Chinese) 0.2% (2017 est.)
Languages: Makhuwa 26.1%, Portuguese (official) 16.6%, Tsonga 8.6%, Nyanja 8.1, Sena 7.1%, Lomwe 7.1%, Chuwabo 4.7%, Ndau 3.8%, Tswa 3.8%, other Mozambican languages 11.8%, other 0.5%, unspecified 1.8% (2017 est.)
Religions: Roman Catholic 27.2%, Muslim 18.9%, Zionist Christian 15.6%, Evangelical/Pentecostal 15.3%, Anglican 1.7%, other 4.8%, none 13.9%, unspecified 2.5% (2017 est.)
Economic Overview: low-income East African economy; mostly rural labor force; natural resource rich; strong South African ties; Islamist terrorism in north endangers newly discovered natural gas
Currency: Mozambican Metical (MZN)
Reserves of Foreign Exchange & Gold: $2.939 billion (2022 est.) note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Real GDP (Purchasing Power Parity): $41.237 billion (2022 est.) note: data in 2017 dollars
Real GDP Growth Rate: 4.36% (2022 est.) note: annual GDP % growth based on constant local currency
Real GDP per Capita: $1,300 (2022 est.) note: data in 2017 dollars
Exports:
$9.409 billion (2022 est.) note: balance of payments - exports of goods and services in current dollars
Comparison Ranking: 114
Export Commodities: coal, aluminum, gold, natural gas, electricity, titanium, coke (2021)
Export Partners: South Africa 16%, India 13%, China 12%, Italy 7%, United Arab Emirates 5%, Germany 5% (2019)
Imports:
$15.913 billion (2022 est.) note: balance of payments - imports of goods and services in current dollars
Comparison Ranking: 103
Import Commodities: refined petroleum, chromium, iron, bauxite, electricity (2019)
Import Partners: South Africa 31%, India 18%, China 17% (2019)
Natural Resources: coal, titanium, natural gas, hydropower, tantalum, graphite
Agricultural Products: sugar cane, cassava, maize, milk, bananas, tomatoes, sweet potatoes, rice, sorghum, potatoes
Industries: aluminum, petroleum products, chemicals (fertilizer, soap, paints), textiles, cement, glass, asbestos, tobacco, food, beverages
Industrial Production Growth Rate:
4.72% (2022 est.) note: annual % change in industrial value added based on constant local currency
Comparison Ranking: 66
Labor Force: 14.693 million (2022 est.)
Unemployment Rate: 3.79% (2022 est.)
Natural Hazards: severe droughts; devastating cyclones and floods in central and southern provinces
Geography:
Total: 799,380 sq km
Land: 786,380 sq km
Water: 13,000 sq km
(Country Summary, The World Factbook, CIA.gov)
LEGAL, FINANCIAL, & TAX ADVICE DISCLAIMER: The information on SportsLifeMoney’s™ (“SLM”) websites, podcast network, videos, social media accounts, and other platforms (collectively, “SLM Platforms”) is strictly and solely provided for educational and informational purposes only. All of the information and materials on the aforementioned SLM Platforms do not constitute and are not intended to provide legal, financial, accounting, or tax advice, and should not be relied on in that respect. SLM recommends that you consult with an attorney, certified financial advisor, or licensed accountant to answer any legal, financial, or tax questions you may have. SLM also recommends that you consult with an attorney, certified financial advisor, or licensed accountant before making any legal, financial, or tax-related decisions based on content and/or subject matter included and/or discussed on any of the SLM Platforms. Before you act or rely on any information you have heard, read, viewed, and/or listened to on any of the SLM Platforms or communication mediums, SLM recommends that you confirm any and all facts that are important to your decision and that you subsequently consult with an appropriate professional (e.g., attorney, certified financial advisor, certified accountant, etc.) and have them review these facts and also confirm their validity. CAUTION: IF YOU RELY ON ANY INFORMATION, CONTENT, PRODUCT, OR SERVICE FROM ANY OF THE SLM PLATFORMS, YOU DO SO AT YOUR OWN RISK. YOU UNDERSTAND THAT YOU ARE SOLELY RESPONSIBLE FOR ANY AND ALL DAMAGES OR LOSS THAT YOU MAY INCUR THAT RESULTS FROM YOUR USE AND/OR RELIANCE OF ANY OF THE SLM PLATFORMS OR ANY OF THE CONTENT OR MATERIAL OTHERWISE PROVIDED ON ANY OF THESE SLM PLATFORMS. SLM AND ANY AND ALL OF ITS AFFILIATES MAKE NO IMPLIED OR EXPRESS REPRESENTATIONS OR IMPLIED OR EXPRESS WARRANTIES OF ANY KIND REGARDING ANY AND ALL INFORMATION ON ANY OF THE SLM PLATFORMS OR SLM’S AFFILIATE PLATFORMS. SLM AND ITS AFFILIATES WILL NOT BE HELD LIABLE FOR ANY DAMAGES. By continuing to use any of the SLM Platforms, you acknowledge and agree to the aforementioned terms and conditions of this disclaimer and any and all other legally binding terms and conditions set forth in SLM’s Privacy Policy, Terms & Conditions, and other legally binding agreements.