Maputo, June 8, 2025 (Lusa) - Mozambique's trade deficit worsened by 26.4% in 2024, reaching $2.231 billion (€1.957 billion), equivalent to 10.1% of Gross Domestic Product (GDP), according to a report by the central bank.

“This result was due to the deterioration of the current account (CA) deficit by $291 million [€255.2 million], combined with the slowdown in the capital account surplus by $175 million [€153.5 million],” says the report from the Bank of Mozambique on the balance of payments, to which Lusa had access today.

It added that the behavior of the CA deficit “stems from the 37% increase in the negative balance of the primary income account,” reflecting the “worsening of the investment income component” by 35.5%, due to “the 48.6% increase in net capital exports by direct investment companies,” and the repayment of interest on public and private external debt, by 15% and 3%, respectively.

The increase in the services account deficit by 11%, “explained by the rise in net costs of imports of services for Major Projects,” also contributed to the evolution of the CC, the central bank's report further details.

Even so, Mozambique closed 2024 with gross international reserves of $3.80 billion (€3.336 billion), sufficient to cover four months of all projected import needs for goods and services.

In addition, the Mozambican economy's “net debtor” position vis-à-vis the rest of the world increased by 2.61% during 2024, registering a stock of $71.296 billion (€62.538 billion), resulting from an increase in liabilities in absolute terms of $5.733 billion (€5.029 billion) compared to assets, which amounted to $3.928 billion (€3.445 billion).

PVJ/ADB // ADB.

Lusa