The economy of Mozambique

The economy of Mozambique is largely based on agriculture, which employs the majority of the country’s population. Other important industries include fishing, mining, and manufacturing. The country has significant reserves of coal, natural gas, and other minerals, which have attracted foreign investment in recent years.

Agriculture: Agriculture is the mainstay of the Mozambican economy, accounting for around 30% of the country’s GDP. The main crops grown in Mozambique include corn, cassava, rice, and beans. The country is also a major producer of cashews, cotton, and tobacco.

Fishing: Fishing is an important industry in Mozambique, with a long tradition of coastal and artisanal fishing. The country has a rich and diverse marine ecosystem, with a number of species of fish, shellfish, and other seafood that are caught and exported.

Mining: Mozambique has significant reserves of coal, natural gas, and other minerals, including tantalum, titanium, and bauxite. These resources have attracted foreign investment in recent years, and the mining industry is a major contributor to the Mozambican economy.

Manufacturing: Manufacturing is a relatively small but growing sector of the Mozambican economy. The main industries in the sector include food processing, textiles, and wood and paper products.

Other sources of income for Mozambique include tourism, which has grown in recent years, and foreign aid, which plays a significant role in the country’s development. The country is also a member of the Southern African Development Community (SADC), a regional economic integration organization.