Mozambique has risen to 3rd place in Standard Bank’s latest Africa Trade Barometer (ATB), consolidating its position as one of the most attractive African countries for trade. The report, released this week, analyzes the trade environment in ten African countries, assessing a series of factors that influence trade competitiveness on the continent.
The Africa Trade Barometer is based on seven broad categories, including trade openness, access to finance, macroeconomic stability, infrastructure, foreign trade, governance and the financial behavior of traders. The rise of Mozambique, which previously ranked 4th, reflects the country’s progress in critical areas, such as investment in infrastructure and improvements in access to credit, allowing Mozambican companies to participate more in cross-border trade.
According to the report, Mozambique has benefited from efforts to improve the resilience of its infrastructure and promote economic diversification, which has boosted its ability to attract business and foreign investment. These advances are especially important in the context of climate change, where the country faces challenges such as droughts and floods, but continues to implement measures that strengthen its commercial competitiveness.
In addition to Mozambique, the barometer highlights the performances of South Africa and Namibia, which retained their 1st and 2nd positions respectively. However, Mozambique’s rise is one of the most significant among the countries analyzed, demonstrating a consistent effort to strengthen its position in the regional market.
The report also underlines that, despite the progress, there are still challenges to be faced in the country, especially in relation to high inflation and the dependence of some economic sectors. However, the overall trend is positive, with projections of GDP growth and a business environment that continues to improve.
The Africa Trade Barometer is considered an essential tool for assessing the performance of African countries in the context of continental trade, offering a detailed overview of the opportunities and challenges faced by the signatory nations of the African Continental Free Trade Agreement (AfCFTA).
