In-Depth Analysis
Mozambique
Mozambique’s strong economic prospects are underpinned by the coal and natural gas sectors, as well as significant infrastructure developments. Recently some debt concerns have acted as a brake on investment and growth.
The Mozambican economy expanded by 3.3% y-o-y in H1 2018. Although this is still well below potential it is not unforeseen given the challenges local government faces. The metical continued its strong run and appreciated to a three-year low early in August, before depreciating due to emerging market tremors. Furthermore, consumer price index (CPI) inflation decreased to levels seen before the 2015-16 drought and exchange rate depreciation. Villagers in northern Mozambique have been under attack from Muslim militants. This group has managed to attract attention due less to the threat they pose and more to the level of barbarity they are willing to inflict on civilians. (Source: Mozambique Quarterly Update, published August 2018.)
Macroeconomic Data
(2017)
|
Fiscal Balance (as a % of GDP) |
-5.6 |
|
Consumer Price Index (% change y-o-y, avg) |
15.1 |
|
Current Account Balance (as a % of GDP) |
-20.8 |
|
Real GDP (annual % change) |
3.7 |
|
GDP per Capita, US$ |
415 |
|
Import Cover (months) |
4.9 |
|
Population, million |
29.7 |
| Total External Debt (as a % of GDP) |
91.7 |