Mozambique, in the last years, after civil war, corruption and default, is now growing at double dial rate; forecasts show around 9,2% for 2023 and 11,5% for 2024. (data provided by “Il sole 24 Ore“)
Catching the potential of the country, Italy, since few years already is the major local investor, with a sum of 3.2 billion dollars between 2012-2018. Just in 2018 commercial trades reached 524 million euros.
The sectors that mostly push exports to Mozambique are:
- chemicals (mainly fertilisers)
- articles of rubber and plastics (in particular for construction)
- pharmaceutical products
Imports, on the other hand, account for 86% of metallurgical raw materials, such as raw aluminium, and precious stones, including rubies and zirconium minerals.
What generates the most revenue, for now, are the investments on site that Italy supports as a partner in the gas sector. From the first plants for the production of liquefied natural gas the exports (starting from 2024/25) will be of approximately 12,9 million tons, almost all already sold to the Asia.
The choice to invest in liquid natural gas for now seems to be strategic: Mozambique is geographically far from the countries of the Middle East, increasingly unstable, and gas demand is bound to increase. Furthermore, the gas consumers prefer to diversify its origin and to have secure supplies which, with a supply for at least 50 years, Mozambique can now guarantee.
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