Mozambique's nominal GDP reached $22.5 billion in 2024, with the World Bank projecting continued growth driven by LNG production, mining, and agriculture. The fiscal deficit is projected to widen to 5.2% of GDP in 2026, reflecting modest revenue recovery and higher spending on wages and capital investment. Trade accounts for an extraordinary 95.67% of GDP, representing one of the highest trade-to-GDP ratios in Africa.
Economic Indicators 2026
| Metric | Value |
|---|---|
| Nominal GDP | $22.5 billion |
| GDP per capita | ~$619 (vs global average $10,589) |
| GDP growth rate | ~5% (2026 estimate) |
| Fiscal deficit | 5.2% of GDP (2026 projection) |
| Trade as % of GDP | 95.67% |
| FDI 2026 forecast | $5.88 billion (record) |
| FDI 2025 actual | $4.7 billion |
| Inflation | ~7% (moderating) |
| Population | ~35.8 million |
| Currency | Metical (MZN), ~63.5 MZN/USD |
| PPP-adjusted GDP | $91.4 billion (World Economics estimate) |
GDP Composition
By Sector
- Agriculture: ~25% of GDP, employs 81% of population
- Services: ~40% of GDP (trade, transport, finance, tourism)
- Industry: ~20% of GDP (mining, construction, manufacturing)
- Taxes less subsidies: ~15%
Growth Drivers 2026
- LNG production — Coral South FLNG operational, TotalEnergies restarting
- Mining — Graphite, coal, ruby, heavy mineral sands
- Agriculture — 10-year agriculture plan, expanding cultivation
- Infrastructure — Ports, railways, energy projects
- FDI — $5.88 billion record inflow forecast
The Jobs Problem
The IMF reports that Mozambique generated only one-fourth as many jobs per unit of per capita GDP growth as comparator countries. This means economic growth is not translating into employment, a critical challenge. Mozambique lost approximately $380 million, roughly 2% of GDP in 2024, due to climate-related disasters.
The Nature of Wealth
How Asia climbed from poverty to wealth in one lifetime, what more than fifty thinkers teach, and a four-stage plan for Mozambique through agriculture and markets.
PDF ebook, instant download. $5 of every copy buys seed for a farmer.
Smallholder Farmers and the Season
For a smallholder farmer, these macroeconomic trends dictate the availability and cost of inputs like seeds and fertilizer. When the national economy fluctuates, the ability to secure verified inputs via cooperatives like COJAZ is essential to ensuring a successful harvest. A productive season helps farmers move toward commercial stability, impacting the 81% of the population engaged in the sector.
Why the PPP Gap Matters
Mozambique's nominal GDP is $22.5 billion, but purchasing power parity (PPP) GDP is estimated at $91.4 billion, a 4x difference. This means the cost of living is lower than nominal GDP suggests, and the real Mozambican economy is 4x larger than headline numbers imply.
MBC's Role
Maputo Bridge Capital, founded by Anselmo Boaventura in Fort Worth, Texas, supports the agriculture sector by connecting sponsors with verified smallholder farmers in Mozambique. We work specifically with the COJAZ cooperative in Zambezia. A sponsor gives from $25, which goes directly to the farmer's local seed and fertilizer shop. The sponsor receives the receipt and field photos as documentation. After harvest, farmers repay into a Community Fund that sponsors the next farmer. While researchers are exploring concepts like satellite credit scoring, M-Pesa integration, and commodity exchanges for the future of the nation's agriculture, our current focus remains on this direct, transparent connection.
Frequently asked questions
What is nominal GDP?
Nominal GDP measures the total value of all goods and services produced in a country at current market prices without adjusting for inflation.
What does the PPP-adjusted GDP tell us?
PPP-adjusted GDP accounts for the relative cost of living and purchasing power of local currencies, providing a clearer picture of real economic size.
Why is the trade-to-GDP ratio significant?
A high trade-to-GDP ratio, such as Mozambique's 95.67%, indicates that the economy is highly integrated into global markets and heavily reliant on imports and exports.
The Bottom Line
Mozambique's economy is at an inflection point. The large PPP gap reveals that the domestic economy is more robust than nominal figures suggest. Addressing the jobs gap will require continued focus on labor-intensive industries like agriculture, as discussed in our business guides.
To help support agricultural growth, you can sponsor a farmer starting from $25. Please note that sponsorships are gifts to support farmers, not financial investments.