Population (2018): 27.2 million
GDP (2017): US$12.7 billion (S$17.1 billion)
World Bank “Ease of Doing Business” Rank (2018): 135
Bilateral Trade with Singapore (2017): S$38.6 million
Mozambique enjoys a strategic location in Southern Africa, near major global routes for coal, oil, and other major minerals. It offers sea access to landlocked members of the Southern African Development Community (SADC) such as Botswana, Zambia and Zimbabwe.
The Port of Maputo is of huge economic importance to the country and receives rapidly growing volumes of trade from around the world, especially South Africa, Botswana, Swaziland and Zimbabwe. The port is expected to handle 40 million tonnes of goods annually by 2020. It is Southern Africa's nearest port to the emerging markets of Asia and the closest deep water port to South Africa’s capital Johannesburg and its provinces Mpumalanga and Limpopo.
Mozambique’s economy has been one of the most dynamic on the continent. Despite encountering a debt crisis in 2016, the country is in process of recovery – achieving a real GDP growth of 3.3% in 20181.
Growth has been driven by increasing amounts of public expenditure and foreign direct investments that have been funding massive infrastructure projects.
The recent discovery of gas just off the country’s coast has the potential to further boost growth in the longer-term, with the government predicting multi-billion-dollar annual revenues after 2022.
With Mozambique’s wealth of natural resources, foreign investors have expressed interest in exploring resource development projects. It has been proven that the country has natural gas reserves of 2.83 trillion cubic metres2,, located at Pande and Temane in Inhambane province.
Key metallic resources include iron ore, gold, bauxite, graphite coal as well as gemstones such as rubies. Mozambique also possesses the rare and important mineral tantalite – of which it might have one of the largest reserves in the world3.
Despite abundant natural resources, Mozambique has not fully explored its potential – offering many opportunities for foreign investors to tap.