, inflation has been
low and foreign exchange rates stable. Albeit from a small base,
Mozambique's economy grew at an annual 10% rate in 1997-99, one of the
highest growth rates in the world. Still, the country depends on
foreign assistance to balance the budget and to pay for a trade
imbalance in which imports outnumber exports by five to one or more.
The medium-term outlook for the country looks bright, as trade and
transportation links to South Africa and the rest of the region are
expected to improve and sizable foreign investments materialize. Among
these investments are metal production (aluminum, steel), natural gas,
power generation, agriculture (cotton, sugar), fishing, timber, and
transportation services. Additional exports in these areas should
bring in needed foreign exchange. In addition, Mozambique is on track
to receive a formal cancellation of a large portion of its external
debt through a World Bank initiative.

GDP: purchasing power parity - $18.7 billion (1999 est.)

GDP - real growth rate: 10% (1999 est.)

GDP - per capita: purchasing power parity - $1,000 (1999 est.)

GDP - composition by sector:
agriculture: 34%
industry: 18%
services: 48% (1998 est.)

Population below poverty line: NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices): 4% (1999 est.)

Labor force: NA

Labor force - by occupation: agriculture 81%, industry 6%, services
13% (1997 est.)

Unemployment rate: NA%

Budget:
revenues: $402 million
expenditures: $799 million, including capital expenditures of $NA
(1997 est.)

Industries: food, beverages, chemicals (fertilizer, soap, paints),
petroleum products, textiles, cement, glass, asbestos, tobacco

Industrial production growth rate: 39% (1997)

Electricity - production: 1.2 billion kWh (1998)

Electricity - production by source:
fossil fuel: 25%
hydro: 75%
nuclear: 0%
other: 0% (1998)

Electricity - consumption: 1.018 billion kWh (1998)

Electricity - exports: 483 million kWh (1998)

Electricity - imports: 385 million kWh (1998)

Agriculture - products: cotton, cashew nuts, sugarcane, tea, cassava
(tapioca), corn, rice, tropical fruits; beef, poultry

Exports: $300 million (f.o.b., 1999 est.)

Exports - commodities: prawns 40%, cashews, cotton, sugar, copra,
citrus, coconuts, timber (1997)

Exports - partners: Spain 17%, South Africa 16%, Portugal 12%, US 10%,
Japan, Malawi, In