The growth of
Mozambique GDP was the highest in the world in 1996.
The growth of Mozambique economy has risen by 10% per annum over the past few years. This fast growth is estimated and found throughout the year 2002. However, Mozambique is one of the world's under developed countries, as reasoned with a per capita GNP of US$210 in the year 1998. Mozambique happens to be one of the most heavily obligated nations in the world. Mozambique is heavily credited and this has been an obstruction to economic development. The costs that go behind clearing the debt servicing prevent the proper utilization of resources that could change the scenario of the Mozambique economy. The competitiveness and investment is very slow, almost static.
The Mozambique economy is mainly dependent on agriculture that accounts for two-fifth of GDP and the mass of merchandise exports products. Traditional export crops include seafood, tobacco, sugar cane, cashew nuts and cotton. The manufacturing sector is limited more or less to the mining sector, which leads to some 19% of GDP. The major manufacturing sectors that contribute largely to Mozambique GDP include food processing, textiles, tobacco, beverages and footwear. The mining sector has the capacity but is still underdeveloped. Mozambique is an on line importer of services like construction, communications, tourism and transport. The exports and imports of the nation has a large impact on
Mozambique GDP.
Mozambique Statistics
Mozambique Statistics include the following data, which exert direct and indirect impacts on the national economy:
- Over 10% of the world’s population lives in Mozambique
- More than 60% of the total inhabitants living in Mozambique are infected with HIV virus that counts up to 25.8 million.
- In 2005, almost 3.2 million people in Mozambique were newly infected, and almost 2.4 million adults and children died of AIDS.
- The young age group between 15–24 years, among which 4.6% women and 1.7% men according to the estimation of 2005, were still living with HIV infection.
