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Railway station in Maputo,capital of Mozambique
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Cahora Bassa power station on the Zambezi River is the biggest power station in Africa
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A Mozambique enterprise showcases timber and cotton products at the FACIMMaputo International Trade Fair
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ECONOMIC SITUATION
Mozambique is located in south-eastern Africa bordered by the Mozambique Channel and Indian Ocean on the east coast with Madagascar at a distance, South Africa and Swaziland to the south; Zimbabwe, Zambia and Malawi to the west; and Tanzania to the north, with Maputo as its capital. Mozambique is rich in mineral resources; mainly coal, iron, copper, gold, tantalum, titanium, bismuth, aluminium, asbestos, graphite, mica, marble and natural gas. There are over 10 billion tons of coal reserves, over six million tons of titanium and its tantalum reserves rank first in the world. In addition, water resources are abundant with the Cahora Bassa Power Station, built on the Zambezi River, being the largest in Africa.
BUSINESS OPPORTUNITES:
Agriculture and Fishing
Mozambique is an agricultural country, 80% of its population is engaged in agricultural production, which occupies 30% of its GDP. Arable land covers a total of 35 million hectares, of which six million hectares have been developed. Cashew nuts, cotton, sugar and sisal hemp are traditional agricultural products for export. Major food products are corn, rough rice, soybeans, and cassava. Additionally, there are rich fishing resources with the main catch being prawn and shellfish. In 2006, the production of corn and cotton were 1.5 million tons and 123,000 tons respectively.
Industries
Mozambique’s industrial sector is devoted largely to the processing of aluminium, sugar, tea, cereals and cashew nuts and mainly located in Maputo and Nampula. Manufactured products include chemical fertiliser, refined petroleum, construction materials (particularly cement), steel, aluminium, and textiles. Industrial output accounts for 10% of the GDP.
Tourism
Tourism is a significant source of foreign income for Mozambique. The objective of the government’s national tourism strategy is to promote high-value, low-volume tourism through wildlife parks and beach resorts. According to the Ministry of Tourism, the number of tourists increased from 150,000 in 1995 to 450,000 in 2003, an average growth of 15% per year. In 2008, the number of visitors increased to 1.5 million.
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Office Building of Ministry of Foreign Affairs and Co-operation of Mozambique
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Source:
1. The Ministry of Foreign Affairs of the People’s Republic of China, http://www.fmprc.gov.cn/chn/default.htm
2.http://allafrica.com/stories/200901270724.html
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MAIN ECONOMIC INDICATORS 2008
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Gross Domestic Product (US$ Billions)
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19.68
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Real GDP growth (%)
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6.9
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GDP per capita (US$)
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900
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Inflation (%)
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11.2
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Land area (sq km)
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801,590
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Population (Million)
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21.284
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Source: CIA- The World Fact Book-Mozambique, https://www.cia.gov/library/publications/the-world-factbook/geos/mz.html
Major Website Recommendations:
National Institute of statistics, Mozambique
http://www.ine.gov.mz/
As the official statistics agency of the government, the National Institute of Statistics of Mozambique is in charge of the production and provision of quality statistical data.
Republic of Mozambique(official government portal)
http://www.portaldogoverno.gov.mz
http://www.mozambique.mz/index.htm
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FOREIGN TRADE FROM 2004 TO 2008 (Unit: Million US$)
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Year
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Total Trade
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Exports
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Imports
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2008
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5,759
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2,731
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3,028
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2007
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5,244
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2,429
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2,815
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2006
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3,731
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1,690
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2,041
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2005
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1,662.3
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689.4
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972.9
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2004
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1,937
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795
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1,142
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Source:
1. CIA-The World Fact Book- Portugal, https://www.cia.gov/library/publications/the-world-factbook/geos/mz.html
2. Index Mundi-Country Facts, http://indexmundi.com/
3. http://www.ine.gov.mz
Main Export Commodities: aluminium, prawns, cashew nuts, cotton, sugar, citrus fruit, timber; electricity
Main Import Commodities: machinery and equipment, vehicles, fuel, chemicals, metal products, foodstuff, textiles
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Main Destinations of Exports (2007)
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%
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Main Origins of Imports (2007)
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%
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Italy
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19.4
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South Africa
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36.7
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Belgium
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18.4
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Australia
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8.5
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Spain
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12.5
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China
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4.6
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South Africa
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12.3
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Italy
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5.2
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UK
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7.3
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Netherlands
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4.6
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China
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4.1
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Source:
CIA-The World Fact Book- Mozambique, https://www.cia.gov/library/publications/the-world-factbook/geos/mz.html
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MAINLAND CHINA – MOZAMBIQUE TRADE (Unit: US $10,000)
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Year
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Total
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Exports
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Imports
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2008(1-10)
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34,563
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22,631
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11,932
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2007
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28,411
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16,002
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12,389
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2006
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20,774
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12,797
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7,977
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2005
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16,501
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9,148
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7,353
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2004
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11,944
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7,515
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4,429
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2003
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7,171
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4,503
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2,668
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Source: Ministry of Commerce of the People’s Republic of China, http://zhs.mofcom.gov.cn/tongji.shtml
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MACAO- MOZAMBIQUE BILATERAL TRADE 2007 (Unit: thousand MOP)
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Trade type
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Weight (KG)
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Macao Patacas
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Imports
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2,742
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2,489,004
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Source:The Statistics and Census Service, http://www.dsec.gov.mo/
Source:
1. The Ministry of Foreign Affairs of the
People’s Republic of China
http://www.fmprc.gov.cn/chn/default.htm
2. The Ministry of Commerce of the People’s
Republic of China
http://www.mofcom.gov.cn/
3. The Economic and Commercial Consular’s Office of the Embassy of the
People’s Republic of China in the Portuguese Republic
http://mz.mofcom.gov.cn/index.shtml
4. Macao Statistics and Census Service
http://www.dsec.gov.mo/c_index.html
5. The World Factbook
http://www.cia.gov/
6. World Economic Forum
http://www.wcforum.org/
