Mozambique has a low Per capita GDP of $647.13 and a Poverty Rate of 62%. Debt to GDP is 96.4% and the Trade Deficit is $11.4B.
Economic recovery gained momentum in 2023. The economy grew by 5% in 2023, primarily driven by the start of Liquified Natural Gas (LNG) production at the Coral South offshore facility. Strong growth in agriculture and services, particularly transport, also contributed to the economy's expansion, offsetting the impact of lower manufacturing and construction activity.
The national poverty rate surged from 48.4% to 62.8% between 2014/15 and 2019/20. The number of poor people increased from 13.1 to 18.9 million, reflecting the impact of COVID-19 on families. There has been a disproportionate increase in poverty in urban areas.
Multidimensional poverty has also worsened. The share of households experiencing deprivations rose from 71 to 78.3% between 2014/15 and 2019/20. In rural areas, conditions went back to the levels observed in 2002/03, with over 95% of households falling into multidimensional poverty. Urban households also saw a sharp increase in multidimensional poverty, from 32% to 46% during the same period.
709,000 people remain internally displaced
due to violence perpetrated by non-state armed groups This rampant destruction has further exacerbated
the already dire humanitarian situation in Mozambique.
The Mozambican Civil War (1977-1992) was fought primarily between the communist ruling government of the Marxist Front for the Liberation of Mozambique (FRELIMO) and the anti-communist militant forces of the Mozambican National Resistance (RENAMO), with various other factions taking part.
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Fighting between the Mozambique government forces and “non-state armed groups” displaced 709,000 citizens reported in May 2024.
Norb Leahy, Dunwoody GA Tea
Party Leader
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