The trade balance recorded a positive balance of 226 million dollars in the third quarter of 2024, driven by an increase in exports and a reduction in the current account deficit.

According to the information contained in the quarterly Balance of Payments (BoP) bulletin, released by the Bank of Mozambique (BdM), to which the MZNews had access to, although the trade balance remained negative for the year as a whole, there was a significant improvement in the third quarter, reflecting a reduction in the deficit by 1.3% to 1.9 billion dollars.

"This result was driven by an increase in exports of 3.7% and a contraction in imports of 1.7%, resulting in a fall in the negative balance of the goods account of 54.6%," says the report.

The report also highlights the growth in net current transfers, which recorded a surplus of 776.5 million dollars, corresponding to an annual growth of 13.6%, explained essentially by the increase of around 11% in net receipts from the private sector."

In addition, the balance of gross international reserves, according to the BoM, stood at 3.8 billion dollars, enough to cover four months of all imports of goods and services.

(Photo DR)