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Coal is Mozambique’s biggest export in first quarter

Coal was Mozambique’s biggest export in the first quarter of 2017, overtaking aluminium, according to the first Monthly Summary of Statistical Information published on Tuesday by the Bank of Mozambique.

Coal exported in the period, which accounted for 33.4% of all exports, generated revenues of US$326.1 million, an increase of 200.5% over the first quarter of 2016.

Coal and aluminium (with exports of 249 million euros, a year-on-year increase of 29.5% and a weight of 25.5%) accounted for 58.9% of Mozambique’s exports in the quarter.

In the first three months of the year, Mozambique sold free on board (FOB) goods in the amount of US$976.61 million, an increase of 40.1% compared to the same period of 2016 .

The monthly summary released by the central bank said large projects – which include coal mining and aluminium production from bauxite deposits – accounted for 80.3% of all Mozambican exports. Mozambique’s traditional exports, such as shrimp, cashew nuts, cotton, sugar and tobacco made up the remaining exports.

Major projects also include natural gas exploration in Inhambane province (with sales of US$72.4 million and a weight of 7.4%) as well as exploration of heavy sands deposits, mainly in Moma, Nampula province, which provided exports of US$42.8 million, with a weight of 4.4%.
Source: Macauhub

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