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At independence in 1975, Mozambique was one of the world's poorest countries. Socialist mismanagement and a brutal civil war from 1977-92 exacerbated the situation. In 1987, the government embarked on a series of macroeconomic reforms designed to stabilize the economy. These steps, combined with donor assistance and with political stability since the multi-party elections in 1994, have led to dramatic improvements in the country's growth rate. Monetary reforms have reduced inflation. Fiscal reforms, including the introduction of a value-added tax and reform of the customs service, have improved the government's revenue collection abilities. In spite of these gains, Mozambique remains dependent upon foreign assistance for more than half of its annual budget, and the majority of the population remains below the poverty line. Subsistence agriculture continues to employ the vast majority of the country's work force. A substantial trade imbalance persists although the opening of the Mozal aluminum smelter, the country's largest foreign investment project to date, has increased export earnings. At the end of 2007, and after years of negotiations, the government took over Portugal's majority share of the Cahora Bassa Hydroelectricity (HCB) company, a dam that was not transferred to Mozambique at independence because of the ensuing civil war and unpaid debts. More power is needed for additional investment projects in titanium extraction and processing and garment manufacturing that could further close the import/export gap. Mozambique's once substantial foreign debt has been reduced through forgiveness and rescheduling under the IMF's Heavily Indebted Poor Countries (HIPC) and Enhanced HIPC initiatives, and is now at a manageable level. In July 2007 the Millennium Challenge Corporation (MCC) signed a Compact with Mozambique; the Compact entered into force in September 2008 and will continue for five years. Compact projects will focus on improving sanitation, roads, agriculture, and the business regulation environment in an effort to spur economic growth in the four northern provinces of the country. Mozambique grew at an average annual rate of 9% for most of the past decade, one of Africa's strongest performances. However, heavy reliance on aluminum, which accounts for about one-third of exports, subjects the economy to volatile international prices. The sharp decline in aluminum prices during the global economic crisis lowered GDP growth by several percentage points.
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$20.22 billion (2009 est.)
country comparison to the world: 122
$19.02 billion (2008 est.)
$17.81 billion (2007 est.)
note:
data are in 2009 US dollars
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$9.831 billion (2009 est.)
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6.3% (2009 est.)
country comparison to the world: 14
6.8% (2008 est.)
7.4% (2007 est.)
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$900 (2009 est.)
country comparison to the world: 217
$900 (2008 est.)
$900 (2007 est.)
note:
data are in 2009 US dollars
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agriculture: 28.7%
industry:
25.4%
services:
45.9% (2009 est.)
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9.77 million (2009 est.)
country comparison to the world: 49
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agriculture: 81%
industry:
6%
services:
13% (1997 est.)
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21% (1997 est.)
country comparison to the world: 168
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70% (2001 est.)
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lowest 10%: 2.1%
highest 10%:
39.2% (2003)
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47.3 (2002)
country comparison to the world: 33
39.6 (1997)
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17.4% of GDP (2009 est.)
country comparison to the world: 121
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revenues: $2.271 billion
expenditures:
$2.772 billion (2009 est.)
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3.7% of GDP (2009 est.)
country comparison to the world: 129
3.4% of GDP (2008 est.)
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3.3% (2009 est.)
country comparison to the world: 106
10.3% (2008 est.)
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9.95% (31 December 2008)
country comparison to the world: 46
9.95% (31 December 2007)
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18.31% (31 December 2008)
country comparison to the world: 16
19.52% (31 December 2007)
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$1.406 billion (31 December 2008)
country comparison to the world: 102
$1.261 billion (31 December 2007)
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$1.752 billion (31 December 2008)
country comparison to the world: 104
$1.467 billion (31 December 2007)
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$1.315 billion (31 December 2008)
country comparison to the world: 108
$877.2 million (31 December 2007)
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$NA
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cotton, cashew nuts, sugarcane, tea, cassava (tapioca), corn, coconuts, sisal, citrus and tropical fruits, potatoes, sunflowers; beef, poultry
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food, beverages, chemicals (fertilizer, soap, paints), aluminum, petroleum products, textiles, cement, glass, asbestos, tobacco
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5.2% (2009 est.)
country comparison to the world: 21
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15.91 billion kWh (2007 est.)
country comparison to the world: 78
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10.16 billion kWh (2007 est.)
country comparison to the world: 85
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11.82 billion kWh (2007 est.)
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8.278 billion kWh (2007 est.)
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0 bbl/day (2009 est.)
country comparison to the world: 145
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18,000 bbl/day (2009 est.)
country comparison to the world: 131
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0 bbl/day (2007 est.)
country comparison to the world: 163
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13,760 bbl/day (2007 est.)
country comparison to the world: 132
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0 bbl (1 January 2009 est.)
country comparison to the world: 155
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3.3 billion cu m (2008 est.)
country comparison to the world: 52
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100 million cu m (2008 est.)
country comparison to the world: 101
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3.2 billion cu m (2008 est.)
country comparison to the world: 32
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0 cu m (2008 est.)
country comparison to the world: 152
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127.4 billion cu m (1 January 2009 est.)
country comparison to the world: 50
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-$926 million (2009 est.)
country comparison to the world: 129
-$975.3 million (2008 est.)
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$1.965 billion (2009 est.)
country comparison to the world: 128
$2.653 billion (2008 est.)
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aluminum, prawns, cashews, cotton, sugar, citrus, timber; bulk electricity
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Netherlands 47.62%, South Africa 11.6% (2009)
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$3.096 billion (2009 est.)
country comparison to the world: 137
$3.458 billion (2008 est.)
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machinery and equipment, vehicles, fuel, chemicals, metal products, foodstuffs, textiles
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South Africa 33.54%, Netherlands 8.42%, India 5.93%, China 4.24% (2009)
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$1.855 billion (31 December 2009 est.)
country comparison to the world: 117
$1.578 billion (31 December 2008 est.)
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$4.159 billion (31 December 2009 est.)
country comparison to the world: 108
$3.826 billion (31 December 2008 est.)
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meticais (MZM) per US dollar - 27.4 (2009), 24.125 (2008), 26.264 (2007), 25.4 (2006), 23,061 (2005)
note:
in 2006 Mozambique revalued its currency, with 1000 old meticais equal to 1 new meticais
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