Friday, July 12, 2024

Projections for 2024 point to significant growth in Mozambique’s industrial production

For the year 2024, projections for Mozambique’s industrial production point to growth of 3.3%, which represents an estimated 144,026 million MT. This growth is seen as one of the determining factors for the country’s socio-economic development.

One of the main drivers of this positive performance will be the plants that are scheduled to be licensed throughout the year. Table 13 shows the detailed projections for industrial production in 2024, broken down by key sectors.

In the food industry, production is expected to reach 39,497 million MT, representing growth of 3.7%. This increase is attributed to the expected start-up of new plants, including an organic sugar and alcohol gel processing plant in Cabo Delgado province and a cashew nut processing plant in Massinga district.

In the Beverage Industry, production is expected to reach 23,363 million MT, with growth of 3.2%, driven by the performance of existing industries and market demand.

On the other hand, tobacco production has faced a decline due to reduced global demand in the international market, and by 2024 production is expected to reach a rate of 0.5% and a value of 7,567 million MT.

Sectors such as textiles and clothing should also contribute to growth, with forecasts of 2.6% and 1.3% growth respectively. These figures are justified by the operationalization of existing companies, stimulated by the possibility of increased exports.

In the non-metallic minerals segment, such as cement, significant growth of 6.7% is projected, with the start-up of a plant in the Chimbonila district, Niassa province.

Finally, the basic metallurgy industries are expected to grow by 2.9%, reaching a value of 40,831 million MT, as a result of efficiency gains in existing companies, reflected in a slight increase in the production and export of aluminum and electrical cables.

The projections for 2024 indicate a positive scenario for Mozambique’s industrial sector, driven by growth in various segments and the potential of the new plants that will be licensed throughout the year.

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