Mozambique's foreign trade grew in the second quarter of this year when compared to the same period in 2020, according to the latest summary of the economic situation published by the National Institute of Statistics (INE).

Exports increased by about 41% and imports grew by nearly 52%, the document reads, showing a new dynamic after the impact of the covid-19 pandemic.

"The volume of exports was around $1,017 million, while imports stood at $2,130 million, resulting in a deficit in the trade balance of goods set at around $1,113 million," INE shows.

The official accounts show a worsening trend in the deficit since the third quarter of 2020.

Of the main products exported during the quarter "the highlight goes to aluminum (18%), coking coal (14%), electric power (11%), hard coal (8%), heavy sands (6%) and natural gas (6%)."

Neighboring South Africa remains the main destination for Mozambican exports (electricity and gas), with a volume of US$ 230 million in the quarter (representing 22% of exports).

This is followed by India ($124 million) and China ($114 million), consumers of coal and coal products.

On the import side, South Africa also leads with a volume of $573 million for the period (a $27% share of the total), spent mostly on electricity and some machinery (liquid pumps).

China sold $203 million worth of products to Mozambique, with the list headed by lightships, dredges and cranes, while India invoiced $141 million, mainly in rice, petroleum oils and medicines.

Lusa Agency