China retained its position as Mozambique’s second-largest trading partner, in both imports and exports, in 2024, according to data released by the Bank of Mozambique (BdM).
India edged out China for the top spot, buying US$1.469 billion worth of goods, concentrated in natural gas, coal, dried or whole leguminous vegetables, and cashew nuts. China bought US$1.349 billion in Mozambican goods, largely natural gas, oilseeds and fruits, heavy sands, and coal. South Africa (US$1.210 billion), Singapore (US$715 million) and South Korea (US$406 million) rounded out the top five export destinations.
Mozambican exports remain highly concentrated in natural resources and agricultural products, natural gas being one of the top goods purchased by all major export partners, with multiple countries also purchasing coal and tobacco.
Mozambique’s total exports for 2024 amounted to US$8.211 billion, down 0.8 percent from the previous year, a drop BdM attributes to decreased revenue from ruby sales, which amounted to US$153 million in 2024, hobbled by a reduction in quality impacting auction prices, as well as post-election tensions affecting production.
Cotton, which accounts for a far smaller portion of exports, plummeted by more than 100 percent compared to 2023 to US$14 million. Such a drop, the report notes, was made possible by a roughly 9-percent decline in international cotton fibre prices, among other factors. Tobacco, meanwhile, went in the opposite direction. Soaring 40 percent to US$217 million, buoyed by stable prices and a 63-percent increase in sales volume.
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Vegetables and horticultural products recorded a more modest increase of 11 percent, reaching US$167 million in large part due to normalisation of production and distribution processes after disruption in 2023 by adverse weather conditions. Cashews shot up 72 percent to US$98 million thanks to an increase in sales volume, while sugar jumped 50 percent to US$36 million.
Last month, Mozambican President Daniel Chapo announced a growth forecast of 5 percent in agricultural production for 2025. He emphasised the growth seen in crops including cereals (9 percent), legumes (7 percent) and roots and tubers (12 percent) seen in the 2024 campaign despite facing adversities. The projected overall growth for 2025 is based on a 2-percent in production area, as well as investment in new areas of commercial agriculture, a growing number of farmers and more access to the means of production.
Agricultural inputs – including tractors, fertilisers and pesticides – were among the top import goods in 2024, alongside transport vehicles, fuel and various machinery. Imports to Mozambique fell to US$8.375 billion in 2024, down 8.8 percent from the previous year.
Neighbouring South Africa sold the most to Mozambique, totalling US$2.094 billion, much of it in electricity, transport vehicles, iron bars and cereal flour. China comes in a distant second at US$1.360 billion, mostly providing tractors, transport vehicles, heavy machinery and pesticides. India (US$569 million), the United Arab Emirates (US$483 million) and Oman (US$463 million) round out the top five sources of imports.
