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    Mozambique Economy - 1989

      Overview: One of Africa's poorest countries, Mozambique has a per capita GDP of under $100. The nation has failed to exploit the economic potential of its large agricultural, hydropower, and transportation resources. Agriculture is the most important sector of the economy, accounting for nearly 50% of GDP and for a major share of exports. Industry contributes roughly 10% to GDP, depending heavily upon agricultural products for processing. Over the past decade the economy has experienced a dramatic deterioration. After growing at more than 2% annually during the period 1977-81, GDP declined at an annual rate of 8% between 1981 and 1986. Agricultural output is at only 75% of its 1981 level, and grain has to be imported. Problems persist, with industry operating at only 20-40% of capacity, and the economy is heavily dependent upon foreign assistance to stay afloat.

      GNP: $500 million, per capita less than $100; real growth rate 4.0% (1987 est.)

      Inflation rate (consumer prices): 15% (1987 est.)

      Unemployment rate: 25% (1987 est.)

      Budget: revenues $122 million; expenditures $321 million, including capital expenditures of $64 million (1987 est.)

      Exports: $85.9 million (f.o.b., 1987 est.); @m5commodities--shrimp 48%, cashews 21%, sugar 10%, copra 3%, citrus 3%; @m5partners--US, Western Europe, GDR, Japan

      Imports: $642 million (c.i.f., 1987 est.), including aid; @m5commodities--food, clothing, farm equipment, petroleum; @m5partners--US, Western Europe, USSR

      External debt: $1.7 billion (December 1987)

      Industrial production: growth rate 5.7% (1987)

      Electricity: 2,263,000 kW capacity; 1,741 million kWh produced, 120 kWh per capita (1988)

      Industries: food, beverages, chemicals (fertilizer, soap, paints), petroleum products, textiles, nonmetallic mineral products (cement, glass, asbestos), tobacco

      Agriculture: cash crops--cotton, cashew nuts, sugar, tea, copra, sisal, rice; other crops--corn, wheat, peanuts, potatoes, beans, sorghum, cassava

      Aid: NA

      Currency: metical (plural--meticais); 1 metical (Mt) = 100 centavos

      Exchange rates: meticais (Mt) per US$1--645 (January 1989), 404 (June 1987), NA (1986), NA (1985)

      Fiscal year: calendar year

      NOTE: The information regarding Mozambique on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Mozambique Economy 1989 information contained here. All suggestions for corrections of any errors about Mozambique Economy 1989 should be addressed to the CIA.

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    Revised 15-Apr-03
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