Monetary & Banking 

 

 

Country name:

conventional long form: Republic of Mozambique
conventional short form: Mozambique
local long form: Republica de Mocambique
local short form: Mocambique
former: Portuguese East Africa

 

Capital:

Maputo. Population: 1.3 million (UN estimate 2005).

 

Location:

South-eastern Africa, bordering the Mozambique Channel, between South Africa and Tanzania

 

Description:

Mozambique borders Tanzania to the north, Zambia and Malawi to the northwest, Zimbabwe to the west, and South Africa and Swaziland to the southwest. To the east lies the Indian Ocean and a coastline of nearly 2,500km (1,550 miles) with beaches bordered by lagoons, coral reefs and strings of islands. Behind the coastline, a vast low plateau rising towards mountains in the west and north accounts for nearly half the area of Mozambique. The landscape of the plateau is savannah – more or less dry and open woodlands with tracts of short grass steppe.
 

 

Area:

799,380 sq km (308,641 sq miles).

 

Population:

20.9 million (CIA estimate 2007).

 

Languages:

Portuguese is the official language. Many local African languages, such as Tsonga, Sena Nyanja, Makonde and Macua, are also spoken.
 

 

Climate:

Climate varies according to area. Inland is cooler than the coast and rainfall higher as the land rises, with most rain between January and March. Hottest and wettest season is October to March. From April to September the coast has warm, mainly dry weather tempered by sea breezes.

Economy - overview:

Following the civil war, the Mozambican economy picked up strongly in the late 1990s. Devastating floods, drought and trade-related disputes in the new millennium have intermittently undermined progress, and required aid donors to step in. Growth was at a healthy 7.9% in 2006, but inflation was also high at 13.2%.
In mid 2006, the World Bank relieved Mozambique from much of its long-term foreign debt burden, and remaining debts were rescheduled under the IMF's Heavily Indebted Poor Countries (HIPC) initiative.
Agriculture is the mainstay of the economy. Forestry is increasing in importance. Fishing is both an important source of food and a vital export earner. Manufacturing industry produces one quarter of GDP: products include processed foods, textiles, drinks, cement and fertiliser. Mining operations produce coal, salt, bauxite, gemstones and marble. In addition, natural gas is extracted from onshore fields and piped to South Africa.
Mozambique is a member of the Southern African Development Conference.

Economy:

Following the civil war, the Mozambican economy picked up strongly in the late 1990s. Devastating floods, drought and trade-related disputes in the new millennium have intermittently undermined progress, and required aid donors to step in. Growth was at a healthy 7.9% in 2006, but inflation was also high at 13.2%.
In mid 2006, the World Bank relieved Mozambique from much of its long-term foreign debt burden, and remaining debts were rescheduled under the IMF's Heavily Indebted Poor Countries (HIPC) initiative.
Agriculture is the mainstay of the economy. Forestry is increasing in importance. Fishing is both an important source of food and a vital export earner. Manufacturing industry produces one quarter of GDP: products include processed foods, textiles, drinks, cement and fertiliser. Mining operations produce coal, salt, bauxite, gemstones and marble. In addition, natural gas is extracted from onshore fields and piped to South Africa.
Mozambique is a member of the Southern African Development Conference.
 

 

Industries:

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