The latest statistical report from the Bank of Mozambique (BdM) revealed that the country’s tobacco exports fell by a significant 25% to 49.3 million dollars in the first nine months of 2023. In comparison, in the same period of 2022, exports brought in more than 66.4 million dollars. This decrease in the value exported in 2023 is attributed to a series of factors, both internal and external.
The BoM report highlights that the drop in tobacco exports occurred amid a scenario marked by internal and external challenges. These challenges can include issues related to the global tobacco market, fluctuations in exchange rates, variable demand and climatic issues affecting production.
An interesting fact is that, according to a World Health Organization (WHO) report released in 2023, Mozambique has the 8th largest tobacco-growing area in the world, with around 91,400 hectares. This data highlights the importance of tobacco growing for the country’s economy, making it even more relevant to analyze the causes behind the drop in exports.
In addition, the BdM report points out that in the same period, the Mozambican trade balance deficit showed a significant reduction of 86.7%, totaling 634.4 million dollars.
This improvement was mainly influenced by the reduction in imports, which may indicate an adjustment in the country’s trade balance.
These figures demonstrate the importance of careful analysis of the economic scenario and the factors that impact Mozambican exports. The BdM will continue to monitor these indicators closely, as they play a crucial role in the country’s economic context.
