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Mozambique
Mozambique is a country with a large and growing population, facing significant development challenges despite ongoing economic activity. In 2024, the country’s population was estimated at 34.63 million, and its nominal gross domestic product reached approximately 22.75 billion USD, reflecting a relatively small economic size compared to the scale of its population. Real GDP growth stood at 2.15% in 2024, indicating modest economic expansion constrained by structural weaknesses, limited industrial diversification, and external vulnerabilities. Inflation was recorded at 3.20%, suggesting moderate price pressures and relatively stable consumer prices. The Human Development Index, estimated at 0.493 in 2023, places Mozambique in the low human development category, highlighting persistent challenges in education, healthcare access, income levels, and overall living conditions. The employment rate among people aged 15 and over was 78.98% in 2023, a very high figure that reflects widespread labor participation, largely driven by informal and subsistence activities rather than formal job creation, which continues to limit productivity and income growth.
GDP nominal
USD 22.75 billion (2024)
Inflation
3.20% (2024)
Real GDP growth
2.5% (2024)
Employment as a % of population 15+
78.98% (2023)
Population
34.63 million (2024)
Human development index
0.493 (2023)
Investment indicators
Private investment (gross fixed capital formation) as a % of GDP
General government investment (gross fixed capital formation) as a % of GDP
Foreign direct investment, net inflows (% of GDP)
Investment landscape
Key sectors
Agriculture
Agriculture remains a foundational pillar of Mozambique’s economy, supporting rural livelihoods and employing the majority of the population. The sector is dominated by smallholder farming, with production centered on staple crops such as maize, cassava, rice, sorghum, and beans, alongside cash crops including cashew nuts, cotton, tobacco, sugar, tea, and horticultural products. Mozambique benefits from abundant arable land, diverse agro-ecological zones, and extensive river systems,…
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Industry
Mozambique’s industrial sector remains relatively small but is gradually expanding, with activity concentrated in light manufacturing, food and beverage processing, construction materials, aluminum smelting, and basic consumer goods. Industrial development has been shaped by the presence of large anchor projects, particularly in aluminum and construction materials, alongside small and medium enterprises serving domestic demand. Structural constraints persist, including high logistics and…
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Tourism
Tourism is a strategic sector for Mozambique, anchored in its extensive Indian Ocean coastline, pristine beaches, marine biodiversity, and cultural heritage. The country offers diverse tourism experiences including beach and resort tourism, marine and diving tourism, eco-tourism, wildlife safaris, and cultural tourism. Key destinations include the Bazaruto and Quirimbas Archipelagos, coastal resort areas, conservation zones, and emerging urban tourism hubs. Although tourism was impacted by…
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Energy
Mozambique’s energy sector is one of the country’s most strategic assets, supported by large hydropower resources, expanding renewable energy potential, and strong integration with the extractive sector. The country hosts one of Africa’s largest hydropower facilities and possesses significant solar and wind resources, while energy infrastructure development is closely linked to mining and gas projects. Despite substantial generation capacity, domestic electricity access remains limited,…
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Minerals and Natural Gas
Mining is a cornerstone of Mozambique’s economic transformation, encompassing solid minerals and natural gas as core components of the extractive sector. Mozambique hosts significant deposits of coal, graphite, heavy mineral sands, gemstones, and industrial minerals, alongside some of Africa’s largest offshore natural gas reserves. Large-scale coal mining in Tete Province, world-class graphite projects, mineral sands operations, and offshore gas developments position the country as a major…
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