Mozambique’s trade balance deficit worsened after the third quarter of 2025, rising 41%, largely influenced by the country’s Major Projects, especially in mining and gas, according to official data.
A report from the Bank of Mozambique on the balance of payments, with data up to the third quarter of last year, indicates that the deficit in the goods account reached 390 million USD (339.2 million EUR) during this period, compared to 267 million USD (232.2 million EUR) a year earlier.
The increase in the deficit, the report explains, “was primarily due to a 7.6% drop in goods exports,” amounting to 470 million USD (408.9 million EUR), with a notable reduction of 295 million USD (256.6 million EUR) in products sold abroad by the Major Projects.
The document also notes that this occurred in a context where imports also fell by about 6%.
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Overall, Mozambique’s goods exports through the third quarter fell to 5,709 million USD (4,966 million EUR)—with about 20% purchased by India—compared to 6,178 million USD (5,374 million EUR) a year earlier.
Imports during this period dropped to 6,099 million USD (5,306 million EUR)—27% from South Africa—down from 6,455 million USD (5,615 million EUR) in the third quarter of 2024.
Excluding imports and exports related to the Major Projects, the goods account deficit fell by half, to 2,081 million USD (1,810 million EUR) at the end of September, according to the same report.
