Sales of goods by the Mozambican economy to the rest of the world in the first quarter of this year earned the country 1.7 billion dollars, an increase of 53 million when compared to the same period last year.

The data is contained in the quarterly balance of payments bulletin, released today, Monday (29), by the Bank of Mozambique (BdM) and to which the MZNews had access to.

According to the report, the positive trend in export revenues is explained by the increase in sales of Major Project (GP) products, particularly extractive industry products, especially natural gas, which rose by 6.2% to almost 1.1 billion dollars, and electricity, which rose by 12.5% to 158.6 million dollars.

"Revenues from exports of natural gas, electricity and coal increased by 102.1 million dollars, 17.6 million and 1.4 million, respectively," says the BoM, noting that the increase in revenues from natural gas is the result of the increase in the volume exported associated with the start of exploration and export of gas from area 4 of the Rovuma basin, despite the average price on the international market having fallen by 43.5%.

In the case of electricity, according to the central bank, the increase continues to be influenced by the upward revision of the export price applied to the main customers by the main company exporting this resource in 2023.

"The growth in sales of mineral coal stems from the rise in the price on the international market, in a context in which the volume exported fell by 5.6%," the report points out.

The document goes on to explain that the products exported by the traditional economy also increased by 9.1 million, especially agricultural products, which generated revenues of 148.5 million dollars, with an emphasis on tobacco, vegetables and bananas.

On the other hand, revenues from the export of aluminum and heavy sands fell in 21% and 20%, respectively, due to the combined effect of lower prices and lower export volumes. "The fall in the volume of aluminum exported is a consequence of the decrease in production influenced, on the one hand, by the breakdown of equipment and the frequent interruptions in the electricity supply during the period. As for heavy sands, the contraction in volume was essentially due to the low level of ore produced by the main company," he explains.

Overall, the bulletin adds that excluding GPs, export revenues grew by 2.3% to stand at 401.9 million dollars, with agricultural products standing out as having increased by 41 million dollars.

India was the main destination for Mozambican exports, with a share of 18.8% in total exports, equivalent to 331 million dollars. It was followed by South Africa in second place, with a 16.9% share of total exports, equivalent to 298.5 million dollars.

(Photo DR)