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Aluminium, Mozambique’s largest single export product
Edited by : AL CIRCLE
1 min read
Mozambique’s balance of trade posted a deficit of USD 687 million in the first half of this year, despite the fact that the country started exporting coal about a year ago, and that goods imports have fallen by 2.6%.
Reporting this Macauhub News Agency quoted the Mozambican daily newspaper O País as saying that coal, which contributed USD 196.4 million, was the second-largest export product in the first half of the year, but was not enough to offset the trade deficit.
The Bank of Mozambique issued statistics which showed that in the first half of the year Mozambique’s exports totaled USD1.8 billion, a rise of 3.6% against the same period of 2011. In The Mozal aluminium foundry saw its turnover fall significantly over the same period due to a drop in the international aluminium price.
The central bank’s “Economic Climate and Inflation Outlook,” report noted that aluminium, with a contribution of USD 579.6 million, remained Mozambique’s largest single export product.
Reporting this Macauhub News Agency quoted the Mozambican daily newspaper O País as saying that coal, which contributed USD 196.4 million, was the second-largest export product in the first half of the year, but was not enough to offset the trade deficit.
The Bank of Mozambique issued statistics which showed that in the first half of the year Mozambique’s exports totaled USD1.8 billion, a rise of 3.6% against the same period of 2011. In The Mozal aluminium foundry saw its turnover fall significantly over the same period due to a drop in the international aluminium price.
The central bank’s “Economic Climate and Inflation Outlook,” report noted that aluminium, with a contribution of USD 579.6 million, remained Mozambique’s largest single export product.
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