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Introduction
Mozambique is located in South-east Africa with the total area of 799,400 square kilometres and a population of around 23.7 million and the official language is Portuguese. The capital of Mozambique is Maputo with a population of 1.2 million. Maputo is the political, economic and cultural centre and transportation hub of the country and one of the largest ports in Africa. Mozambique is rich in mineral resources namely tantalum, coal, iron, copper, gold, titanium and natural gas. Its tantalum ore reserves are the largest in the world.

The currency of Mozambique is Metical (MZN) with US$1 to about MZN30. RMB and Metical do not have a direct exchange rate.

Investment Environment
The Mozambique government has maintained steady economic growth through stepping up construction of infrastructure, boosting tourism, improving the investment environment and encouraging the exploration of mineral resources, energy, farming, forestry and fishing.
Among the members of Southern African Development Community, the trade and investment environment of Mozambique ranks ahead of Zimbabwe and Angola, but behind Mauritius and South Africa. In recent years, the Mozambique government has stepped up efforts in economic restructuring, improving investment environment, attracting foreign investment, increasing input in agriculture and villages, accelerating construction of infrastructure, and encouraging increased revenue and reduced costs. The government has also reformed the customs and substantially reduced tariffs.
Mozambique is an agricultural country, with 80% of Mozambicans engaged in agricultural sector. The agricultural output of the country accounts for 30% of the GDP. Its main food crops include corn, rice, soybean and cassava; the industrial output accounts for 25% of the GDP, mainly includes processing industry, aluminum processing, small-scaled sugar producers, tea processing, grain and cashew nut processing, motorcycle and auto manufacturing , car batteries and tyres industries.
The tax system of Mozambique is divided into national and autonomous tax collection. The national tax system covers direct tax and indirect tax. Direct tax includes IRPC and IRPS; indirect tax includes IVA, ICE and tariff. Mozambique adopts the territory-based taxation system.
Economy and Trade
According to the Mozambique National Bureau of Statistics, the major export products include mineral products, metals and metal products, food, tobacco, vegetables, chemical products and timber; while the major import products include mineral products, machines, electrical equipment, metal and metal products and transportation facilities.
Major trading partners of Mozambique include South Africa, Netherlands, United Arab Emirates, Bahrain, the UK, China, Portugal, Brazil, the US, India, Japan, Thailand, Vietnam, Germany, Zambia and Australia.

Annual Data and Forecast

2014(a) 2015(a) 2016(b) 2017(b)
Area Sq Km 799,380 799,380 799,380 799,380
Population (m) 27.2 28.0(c) 28.8 29.5
GDP (US$ bn) 16.9 14.7 11.2 11.2
Real GDP growth(%) 7.4 6.3 3.8 4.2
Export of goods fob (US$ m) 3,916 3,413 3,132 4,062
Import of goods fob (US$ m) -7,952 -7,577 -5,151 -5,335
Current Account Balance (US$ m) -5,797 -6,155 -2,609 -2,304
Exchange Rate MT:US$ (end-period) 33.60 45.90 67.27 74.24

(a) Actual (b) EIU forecast (c) EIU estimates

Main destinations of exports (2015) % of total
South Africa 22.7
China 9.3
Italy 8.2
India 8.1
Others 51.7
Main Origins of Imports (2015) % of total
South Africa 26.9
China 19.3
India 14.6
Portugal 3.9
Others 35.3

Mainland China-Mozambique Bilateral Trade (USD 10,000)

Year Total Exports* Imports**
2014 361856 196874 164982
2015 239064 193802 45262

* China’s export value to Mozambique
** China’s import value from Mozambique

Trade between Macau -Mozambique(Mop)

Year Total Exports* Imports**
2015 11,862 0 11,862
2016 73,505 0 73,505

* Macau’s export value to Mozambique
** Macau’s import from Mozambique

Source:

  • Guide for Countries and Regions on Overseas Investment and Co-operation – Mozambique
  • Chinese Academy of International Trade and Economic Co-operation of Ministry of Commerce
  • Investment Promotion Agency of Ministry of Commerce
  • Economic and Commercial Counselor’s Office of the Embassy of China in Mozambique
  • China Statistical Yearbook 2016
  • The Economic Intelligence Unit – Country Report
  • The Macau Statistics and Census Department