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    Mozambique Economy - 1990

      Overview: One of Africa's poorest countries, with a per capita GDP of little more than $100, Mozambique has failed to exploit the economic potential of its sizable agricultural, hydropower, and transportation resources. Indeed, national output, consumption, and investment declined throughout the first half of the 1980s because of internal disorders, lack of government administrative control, and a growing foreign debt. A sharp increase in foreign aid, attracted by an economic reform policy, has resulted in successive years of economic growth since 1985. Agricultural output, nevertheless, is only at about 75% of its 1981 level, and grain has to be imported. Industry operates at only 20-40% of capacity. The economy depends heavily on foreign assistance to keep afloat.

      GDP: $1.6 billion, per capita less than $110; real growth rate 5.0% (1988)

      Inflation rate (consumer prices): 81.1% (1988)

      Unemployment rate: 40.0 (1988)

      Budget: revenues $186 million; expenditures $239 million, including capital expenditures of $208 million (1988 est.)

      Exports: $100 million (f.o.b., 1988); commodities--shrimp 48%, cashews 21%, sugar 10%, copra 3%, citrus 3%; partners--US, Western Europe, GDR, Japan

      Imports: $764 million (c.i.f., 1988), including aid; commodities--food, clothing, farm equipment, petroleum; partners--US, Western Europe, USSR

      External debt: $4.4 billion (1988)

      Industrial production: growth rate 7% (1989 est.)

      Electricity: 2,265,000 kW capacity; 1,740 million kWh produced, 120 kWh per capita (1989)

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

      Agriculture: accounts for 50% of GDP, over 80% of labor force, and about 90% of exports; cash crops--cotton, cashew nuts, sugarcane, tea, shrimp; other crops--cassava, corn, rice, tropical fruits; not self-sufficient in food

      Aid: US commitments, including Ex-Im (FY70-88), $282 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $3.1 billion; OPEC bilateral aid (1979-89), $37 million; Communist countries (1970-88), $887 million

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

      Exchange rates: meticais (Mt) per US$1--800 (September 1989), 528.60 (1988), 289.44 (1987), 40.43 (1986), 43.18 (1985)

      Fiscal year: calendar year

      NOTE: The information regarding Mozambique on this page is re-published from the 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Mozambique Economy 1990 information contained here. All suggestions for corrections of any errors about Mozambique Economy 1990 should be addressed to the CIA.

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    Revised 07-Feb-03
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