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@Mozambique:Economy

Economy-overview: Before the peace accord of October 1992, Mozambique
had been devastated by civil war and was one of the poorest countries
on the globe. Prospects subsequently improved, and with its solid
economic performance in 1996-97, Mozambique has begun to exploit its
sizable agricultural, hydropower, and transportation resources.
Foreign assistance programs help supply the foreign exchange required
to support the budget and pay for imports of goods and services. The
restoration of electrical transmission lines to South Africa and the
completion of a new transmission line to Zimbabwe (permitting the
giant Cahora Bassa hydropower plant to export large amounts of
electricity), proposed construction of a natural gas pipeline to South
Africa, and reform of transportation services will greatly improve
foreign exchange receipts. The Mozambique and South African
Governments are developing the Maputo corridor, linking the port of
Maputo with Witbank, South Africa. In the past few years, more than
700 state enterprises have been privatized, including the country's
largest commercial bank and a number of sizable manufacturing firms.
Other pending reform measures are the reform of tax collection and the
facilitation of private enterprise in the transportation, energy, and
telecommunications sectors.

GDP: purchasing power parity-$14.6 billion (1997 est.)

GDP-real growth rate: 8% (1997 est.)

GDP-per capita: purchasing power parity-$800 (1997 est.)

GDP-composition by sector:
agriculture: 35%
industry: 13%
services: 52% (1996 est.)

Inflation rate-consumer price index: 5.8% (1997)

Labor force: NA
by occupation: 80% engaged in agriculture
note: in 1993, 47% of the wage earners were employed in industry, 28%
in transportation and communication; traditionally, a large number of
Mozambicans work abroad

Unemployment rate: NA

Budget:
revenues: $324 million
expenditures: $600 million, including capital expenditures of $310
million (1996 est.)

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

Industrial production growth rate: NA

Electricity-capacity: 2.358 million kW (1995)

Electricity-production: 465 million kWh (1995)

Electricity-consumption per capita: 73 kWh (1995)

Agriculture-products: cotton, cashew nuts, sugarcane, tea, cassava
(tapioca), corn,