Official Name: República de Moçambique
Short form: Moçambique
International long form: Republic of Mozambique
International short form: Mozambique
ISO Country Code: mz
Languages: Portuguese (official), various indigenous languages
Mozambique’s economy was devastated by decades of conflict. Its high growth rate over the last decade has been from a very low base, and has been greatly dependent on capital-intensive investment by the private sector, and on the strong South African economy. The government has initiated widespread reforms to alleviate this, particularly in banking, the management of public finance and the collection of customs dues.
Agriculture employs 83% of the population and until recently accounted for 80% of exports. Minerals make up an increasing share of exports, and recent investment in Mozambique’s mineral and gas deposits may increase their contribution to the economy.
The Mozambican economy also benefits from the transit of goods to and from the African interior. Investment in infrastructure for the Beira, Nacala and Maputo Corridors, which respectively link Zimbabwe, Malawi and South Africa’s Gauteng province to the Indian Ocean has increased in recent years.