Mozambique ranked 123/197 by economy size with a GDP of $22.7B and 189/197 by GDP per capita at $657. Mozambique has $21.2B in government debt, with a debt-to-GDP ratio of 93.2%.
In 2024, Mozambique made up 0.02% of the world's economy, compared to 0.02% in 1991.
Mozambique GDP & GDP growth by year
| Year | GDP | GDP growth |
|---|---|---|
| 2024 | $22,745,341,305 | 2.15% |
| 2023 | $20,921,079,533 | 5.48% |
| 2022 | $18,883,528,581 | 4.36% |
| 2021 | $16,168,055,475 | 2.38% |
| 2020 | $14,235,420,174 | -1.22% |
| 2019 | $15,512,759,047 | 2.32% |
| 2018 | $15,017,358,953 | 3.48% |
| 2017 | $13,264,640,646 | 2.64% |
| 2016 | $12,069,051,237 | 4.7% |
| 2015 | $16,208,985,770 | 7.39% |
| 2014 | $17,978,246,586 | 7.7% |
| 2013 | $17,198,073,057 | 6.57% |
| 2012 | $16,688,114,144 | 7.99% |
| 2011 | $14,619,279,989 | 7.13% |
| 2010 | $11,411,894,724 | 6.68% |
| 2009 | $12,263,894,790 | 5.93% |
| 2008 | $12,920,340,965 | 6.88% |
| 2007 | $10,811,456,006 | 7.65% |
| 2006 | $9,509,835,537 | 9.91% |
| 2005 | $8,868,504,900 | 6.31% |
| 2004 | $7,937,255,565 | 8.2% |
| 2003 | $6,583,526,861 | 7.22% |
| 2002 | $5,950,769,427 | 9.67% |
| 2001 | $5,650,154,067 | 12.9% |
| 2000 | $5,930,685,215 | 0.77% |
| 1999 | $6,285,219,691 | 11.8% |
| 1998 | $5,551,118,149 | 10.4% |
| 1997 | $4,873,663,775 | 11.8% |
| 1996 | $4,030,146,135 | 10.7% |
| 1995 | $3,061,646,174 | 2.12% |
| 1994 | $2,958,108,170 | 6.44% |
| 1993 | $2,883,161,897 | 10.9% |
| 1992 | $2,798,696,511 | -7.58% |
| 1991 | $3,854,856,435 | 4.93% |
| 1990 | - | 1% |
| 1989 | - | 6.5% |
| 1988 | - | 8.2% |
| 1987 | - | 14.7% |
| 1986 | - | -2.3% |
| 1985 | - | 1% |
| 1984 | - | -6.5% |
| 1983 | - | -15.7% |
| 1982 | - | -6.9% |
| 1981 | - | 5% |
Data sources: World Bank | Economy & Growth (1981–2024, retrieved 2026-04-06).
GeoRank.org/economy/mozambique | CC BY 
Mozambique GDP per capita by year
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 2024 | $657 | $1,705 |
| 2023 | $622 | $1,678 |
| 2022 | $578 | $1,582 |
| 2021 | $510 | $1,457 |
| 2020 | $462 | $1,412 |
| 2019 | $519 | $1,389 |
| 2018 | $518 | $1,326 |
| 2017 | $471 | $1,283 |
| 2016 | $441 | $1,379 |
| 2015 | $611 | $1,318 |
| 2014 | $697 | $1,166 |
| 2013 | $687 | $1,114 |
| 2012 | $686 | $1,076 |
| 2011 | $618 | $1,064 |
| 2010 | $496 | $1,000 |
| 2009 | $548 | $951 |
| 2008 | $592 | $916 |
| 2007 | $508 | $862 |
| 2006 | $457 | $798 |
| 2005 | $437 | $721 |
| 2004 | $400 | $673 |
| 2003 | $339 | $620 |
| 2002 | $314 | $580 |
| 2001 | $305 | $533 |
| 2000 | $327 | $472 |
| 1999 | $354 | $468 |
| 1998 | $320 | $422 |
| 1997 | $287.5 | $387 |
| 1996 | $244.4 | $350 |
| 1995 | $191.8 | $321 |
| 1994 | $196.8 | $326 |
| 1993 | $205.2 | $321 |
| 1992 | $205.6 | $292 |
| 1991 | $288.7 | $315 |
| 1990 | - | $296 |
Data sources: World Bank | Economy & Growth (1990–2024, retrieved 2026-04-06).
GeoRank.org/economy/mozambique | CC BY
Mozambique has a GDP per capita of $657, ranking 189/197, a GDP per capita based on purchasing power parity (PPP) of $1,705, ranking 192/197, and a median annual after tax income of $1,778, ranking 171/197.
Mozambique GDP rankings by year
| Year | Rank | ||
|---|---|---|---|
| GDP | GDP per capita | GDP per capita, PPP | |
| 2024 | 122 | 176 | 175 |
| 2023 | 119 | 187 | 184 |
| 2022 | 124 | 187 | 184 |
| 2021 | 126 | 188 | 183 |
| 2020 | 128 | 191 | 184 |
| 2019 | 126 | 188 | 184 |
| 2018 | 129 | 189 | 183 |
| 2017 | 130 | 191 | 184 |
| 2016 | 129 | 192 | 184 |
| 2015 | 117 | 186 | 186 |
| 2014 | 120 | 184 | 186 |
| 2013 | 123 | 184 | 188 |
| 2012 | 122 | 184 | 187 |
| 2011 | 125 | 187 | 188 |
| 2010 | 130 | 188 | 187 |
| 2009 | 118 | 186 | 188 |
| 2008 | 118 | 180 | 188 |
| 2007 | 117 | 178 | 188 |
| 2006 | 118 | 175 | 188 |
| 2005 | 114 | 178 | 187 |
| 2004 | 113 | 179 | 188 |
| 2003 | 113 | 178 | 188 |
| 2002 | 115 | 174 | 188 |
| 2001 | 114 | 176 | 188 |
| 2000 | 110 | 170 | 190 |
| 1999 | 107 | 169 | 187 |
| 1998 | 110 | 173 | 186 |
| 1997 | 115 | 175 | 185 |
| 1996 | 119 | 176 | 182 |
| 1995 | 127 | 184 | 182 |
| 1994 | 120 | 174 | 180 |
| 1993 | 122 | 175 | 181 |
| 1992 | 122 | 173 | 181 |
| 1991 | 110 | 164 | 180 |
| 1990 | - | - | 178 |
Data sources: World Bank | Economy & Growth (1990–2024, retrieved 2026-04-06).
GeoRank.org/economy/mozambique | CC BY
Compared with 2000, in 2024 Mozambique is ranked 122nd out of 182 by GDP (down from 110th), 176th by GDP per capita (down from 170th), and 175th by GDP per capita PPP (up from 190th).
Economic indicators
Mozambique
|
Rank | |
|---|---|---|
| Gross domestic product |
$22.7B
2024 |
123/197 |
| GDP growth |
2.15%
2023-2024 |
130/194 |
| GDP per capita |
$657
2024 |
189/197 |
| GDP per capita, PPP |
$1,705
2024 |
192/197 |
| Government debt |
$21.2B
2024 |
97/185 |
| Debt-to-GDP ratio |
93.2%
2024 |
28/185 |
| Government debt per person |
$612
2024 |
159/185 |
| Average annual personal income after taxes |
$1,778
2026 |
171/197 |
| Income share by richest 10% |
40.8%
2022 |
7/169 |
| Income share by poorest 10% |
1.7%
2022 |
152/169 |
| Government expenditure, % of GDP |
33.2%
2024 |
79/195 |
| Consumer prices inflation |
3.2%
2023-2024 |
96/195 |
| Central bank interest rate |
9.75%
2025 |
28/106 |
| Unemployment rate |
6.79%
2022 |
69/196 |
| Population |
36941128
|
46/197 |
Government spending, deficit, and debt by year
| Year | % of GDP | ||
|---|---|---|---|
| Government spending | Government debt | Government deficit/surplus | |
| 2024 | 33.2% | 93.2% | -6.17% |
| 2023 | 33.3% | 90.9% | -4.26% |
| 2022 | 32.9% | 100.3% | -5.22% |
| 2021 | 32.1% | 104.3% | -5.23% |
| 2020 | 33.9% | 120% | -6.19% |
| 2019 | 28% | 98.3% | 1.7% |
| 2018 | 32.9% | 105.5% | -7.39% |
| 2017 | 29.5% | 103.8% | -2.9% |
| 2016 | 29.1% | 124.8% | -5.42% |
| 2015 | 32.2% | 86% | -6.55% |
| 2014 | 39.7% | 63.4% | -9.75% |
| 2013 | 31.7% | 49.5% | -2.46% |
| 2012 | 28.1% | 36.7% | -3.45% |
| 2011 | 28.9% | 34.2% | -4.34% |
| 2010 | 26.7% | 38.6% | -3.5% |
| 2009 | 25.7% | 39.3% | -4.35% |
| 2008 | 21.3% | 32.8% | -1.9% |
| 2007 | 20.9% | 31.2% | -2.19% |
| 2006 | 20.1% | 40% | -3.03% |
| 2005 | 17% | 60.1% | -2.06% |
| 2004 | 17.8% | 50.8% | -3.17% |
| 2003 | 18.6% | 63.2% | -2.64% |
| 2002 | 18.6% | 63.4% | -3.36% |
| 2001 | 20.8% | 99.8% | -4.43% |
| 2000 | 17.2% | 95.8% | -1.26% |
| 1999 | 15.6% | 94.7% | -0.31% |
| 1998 | 14.9% | - | -1.08% |
| 1997 | 16.5% | - | -1.81% |
| 1996 | 14.9% | - | -2.07% |
| 1995 | 18.8% | - | -2.46% |
| 1994 | 22.9% | - | -4% |
| 1993 | 20.7% | - | -2.53% |
| 1992 | 21.1% | - | -1.85% |
| 1991 | 17.3% | - | -2.01% |
| 1990 | 21% | - | -4.42% |
| 1989 | 27% | - | -4.23% |
| 1988 | 27% | - | -6.47% |
| 1987 | 22.9% | - | -7.24% |
| 1986 | 24.2% | - | -12.1% |
| 1985 | 21% | - | -9.69% |
| 1984 | 30.9% | - | -13.4% |
| 1983 | 35.3% | - | -15.8% |
| 1982 | 27% | - | -3.61% |
| 1981 | 23.8% | - | -7.41% |
| 1980 | 14.2% | - | -1.47% |
Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-02-20).
GeoRank.org/economy/mozambique | CC BY
This chart shows Mozambique's government spending, budget balance, and debt over time, each expressed as a share of GDP.
Over the past 45 years, Mozambique recorded a fiscal deficit in 44 of them, with an average annual deficit equal to 4.52% of GDP. In 2024, government spending reached $7.56B (33.2% of GDP), with a deficit of 6.17%.
The national debt reached $21.2B, ranking 97th out of 185 countries by total size, with a debt-to-GDP ratio of 93.2%, ranking 28th.
Inflation rate by year
| Year | Inflation |
|---|---|
| 2024 | 3.2% |
| 2023 | 7% |
| 2022 | 10.4% |
| 2021 | 6.6% |
| 2020 | 0.9% |
| 2019 | 5.7% |
| 2018 | 3.2% |
| 2017 | 15.8% |
| 2016 | 18.4% |
| 2015 | 3.6% |
| 2014 | 2.6% |
| 2013 | 4.3% |
| 2012 | 2.6% |
| 2011 | 11.2% |
| 2010 | 12.4% |
| 2009 | 3.8% |
| 2008 | 14.5% |
| 2007 | 10.4% |
| 2006 | 13.2% |
| 2005 | 6.4% |
| 2004 | 12.6% |
| 2003 | 13.5% |
| 2002 | 16.8% |
| 2001 | 9.1% |
| 2000 | 12.7% |
| 1999 | 2.9% |
| 1998 | 1.5% |
| 1997 | 7.4% |
| 1996 | 48.5% |
| 1995 | 47.7% |
| 1994 | 63.1% |
| 1993 | 42.3% |
| 1992 | 45.1% |
| 1991 | 33.3% |
| 1990 | 43.7% |
| 1989 | 42.1% |
| 1988 | 58.5% |
| 1987 | 164.1% |
| 1986 | 40.5% |
| 1985 | 30.8% |
| 1984 | 30% |
| 1983 | 28.2% |
| 1982 | 17.7% |
| 1981 | 4.2% |
| 1980 | 2% |
Data sources: International Monetary Fund (IMF) | World Economic Outlook (1980–2024, retrieved 2026-02-20).
GeoRank.org/economy/mozambique | CC BY
Over the past 20 years, Mozambique has had an average annual inflation rate of 7.81%. In 2024, inflation was 3.2%. The bar chart above shows consumer price inflation by year.
Balance of trade
|
Mozambique
|
Rank | |
|---|---|---|
|
Current account balance
|
-$2.49B
2024 |
150/190 |
| Current account balance, % of GDP |
-11%
2024 |
164/190 |
| Goods imports |
$8.38B
2024 |
116/189 |
| Goods exports |
$8.21B
2024 |
107/189 |
| Service imports |
$2.11B
2024 |
120/189 |
| Service exports |
$1.15B
2024 |
132/189 |
| Imports of goods and services, % of GDP |
52.8%
2024 |
71/181 |
| Exports of goods and services, % of GDP |
42.8%
2024 |
68/193 |
Mozambique top 10 trading partners
Mozambique's biggest trading partner accounting for 20.5% of all exports and imports is South Africa, with a trade balance between the two of -$1.09B: Mozambique exports $1.21B worth of goods and services to South Africa and imports $2.3B.
Below is the list of the top 10 trade partners of Mozambique.
| Rank | Country | Trade value | Share of total trade | Export to | Import from | Top export to | Top import from |
|---|---|---|---|---|---|---|---|
| 1 |
South Africa
|
$3.51B | 20.5% | $1.21B | $2.3B | Raw materials & minerals | Machinery & equipment |
| 2 |
China
|
$2.85B | 16.6% | $1.35B | $1.5B | Raw materials & minerals | Machinery & equipment |
| 3 |
India
|
$2.1B | 12.2% | $1.47B | $626M | Raw materials & minerals | Raw materials & minerals |
| 4 |
Singapore
|
$1.15B | 6.7% | $716M | $433M | Raw materials & minerals | Raw materials & minerals |
| 5 |
UAE
|
$711M | 4.15% | $180M | $531M | Raw materials & minerals | Raw materials & minerals |
| 6 |
Oman
|
$512M | 2.98% | $2.22M | $509M | Raw materials & minerals | Raw materials & minerals |
| 7 |
Vietnam
|
$459M | 2.67% | $351M | $108M | Raw materials & minerals | Raw agricultural goods |
| 8 |
South Korea
|
$446M | 2.6% | $406M | $40.4M | Raw materials & minerals | Chemicals & pharma |
| 9 |
United Kingdom
|
$374M | 2.18% | $330M | $43.6M | Metals | Machinery & equipment |
| 10 |
Netherlands
|
$355M | 2.07% | $294M | $61.2M | Metals | Machinery & equipment |
Top 10 exports
|
Mozambique
|
Rank | |
|---|---|---|
| Raw materials & minerals | $5.48B | 71/193 |
| Metals | $1.36B | 68/192 |
| Transport & tourism services | $959M | 119/188 |
| Raw agricultural goods | $628M | 82/193 |
| Processed food, beverages & tobacco | $344M | 108/192 |
| Precious metals & jewellery | $122M | 101/190 |
| Textiles & consumer goods | $96.4M | 121/193 |
| Wood & paper products | $68.3M | 105/192 |
| Government & miscellaneous services | $67.7M | 88/180 |
| Machinery & equipment | $43.6M | 141/193 |
Top 10 imports
|
Mozambique
|
Rank | |
|---|---|---|
| Raw materials & minerals | $2.69B | 104/193 |
| Machinery & equipment | $2.46B | 119/193 |
| Raw agricultural goods | $1.06B | 84/193 |
| Transport & tourism services | $1.03B | 121/188 |
| Business & finance services | $975M | 91/188 |
| Chemicals & pharma | $864M | 115/193 |
| Processed food, beverages & tobacco | $584M | 129/193 |
| Textiles & consumer goods | $578M | 115/193 |
| Metals | $533M | 119/193 |
| Animal & marine products | $212M | 114/193 |
Economic freedom indices
|
Mozambique
|
Rank | |
|---|---|---|
| Economic freedom | 49.6 | 164/197 |
| Property rights | 29.7 | 141/182 |
| Government integrity | 25.1 | 144/182 |
| Judicial effectiveness | 43.4 | 96/182 |
| Tax burden | 75.8 | 116/182 |
| Government spending | 67 | 110/180 |
| Fiscal health | 39.1 | 139/181 |
| Business freedom | 40.2 | 155/182 |
| Labor freedom | 47.7 | 150/182 |
| Monetary freedom | 76.2 | 65/180 |
| Trade freedom | 71.2 | 90/181 |
| Investment freedom | 40 | 134/181 |
| Financial freedom | 40 | 118/181 |
Economic freedom by year
| Year | Index | ||||
|---|---|---|---|---|---|
| Economic freedom | Judicial effectiveness | Tax burden | Government spending | Fiscal health | |
| 2026 | 49.6 | 43.4 | 75.8 | 67 | 39.1 |
| 2025 | 50.7 | 44.9 | 75.4 | 68.8 | 51.9 |
| 2024 | 50.7 | 44.5 | 74.1 | 69.2 | 47 |
| 2023 | 52.5 | 27.1 | 75.3 | 70.6 | 65.9 |
| 2022 | 51.3 | 44.1 | 72.2 | 70.3 | 52.7 |
| 2021 | 51.6 | 26.9 | 74.8 | 71.4 | 62.3 |
| 2020 | 50.5 | 31.7 | 74.1 | 69.6 | 40.3 |
| 2019 | 48.6 | 35.2 | 75.5 | 66.9 | 16.6 |
| 2018 | 46.3 | 36.3 | 70.6 | 60.7 | 0 |
| 2017 | 49.9 | 32.4 | 73.2 | 58.2 | 22.7 |
| 2016 | 53.2 | - | 74.3 | 63.5 | - |
| 2015 | 54.8 | - | 75.2 | 66.5 | - |
| 2014 | 55 | - | 75.7 | 64.6 | - |
| 2013 | 55 | - | 76.2 | 64.5 | - |
| 2012 | 57.1 | - | 77.1 | 69.3 | - |
| 2011 | 56.8 | - | 77.5 | 76.5 | - |
| 2010 | 56 | - | 77.6 | 76.1 | - |
| 2009 | 55.7 | - | 77.7 | 76.5 | - |
| 2008 | 55.4 | - | 78.1 | 85.2 | - |
| 2007 | 54.7 | - | 78.2 | 82.7 | - |
| 2006 | 51.9 | - | 78.1 | 73.4 | - |
| 2005 | 54.6 | - | 80.9 | 65.7 | - |
| 2004 | 57.2 | - | 80.9 | 63.9 | - |
| 2003 | 58.6 | - | 82.4 | 77.6 | - |
| 2002 | 57.7 | - | 82.5 | 81.3 | - |
| 2001 | 59.2 | - | 82.6 | 85.5 | - |
| 2000 | 52.2 | - | 69.7 | 82.7 | - |
| 1999 | 48.9 | - | 68 | 87.4 | - |
| 1998 | 43 | - | 68 | 82.1 | - |
| 1997 | 44 | - | 68.2 | 71.4 | - |
| 1996 | 48.4 | - | 74.2 | 88.6 | - |
| 1995 | 45.5 | - | 60.4 | 74.8 | - |
Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).
GeoRank.org/economy/mozambique | CC BY
Mozambique is ranked 146/174 for economic freedom with a score of 49.6, compared to 133/162 and a score of 51.9 in 2006.
Other economic metrics
|
Mozambique
|
Rank | |
|---|---|---|
| Services, % of GDP |
41.1%
2024 |
177/191 |
| Industry, % of GDP |
21.9%
2024 |
117/194 |
| Agriculture, forestry, and fishing, % of GDP |
25.2%
2024 |
20/193 |
|
GNI, Atlas method
|
$19.1B
2024 |
127/194 |
| GNI per capita, PPP |
$1,520
2024 |
188/191 |
| Total reserves including gold |
$3.84B
2024 |
108/177 |
|
Net foreign direct investment
|
-$3.55B
2024 |
153/189 |
|
Net inflows of foreign direct investment
|
$3.51B
2024 |
55/193 |
|
Net outflows of foreign direct investment
|
-$44.1M
2024 |
178/193 |
|
Servicing debt to the IMF, % of GNI
|
22.4%
2024 |
3/121 |
| Poverty at national poverty lines |
65%
2022 |
6/176 |
|
Gross capital formation, % of GDP
|
17.7%
2024 |
143/178 |
Compare Mozambique vs other countries
GDP per capita map
Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).
GeoRank.org/economy/mozambique | CC BY
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Data sources:
- World Bank | Economy & Growth (1981–2024, retrieved 2026-04-06)
- International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
- The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
- U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
- International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-02-20)
- TradeMap (2009–2024, retrieved 2026-02-08)
- United Nations | World Population Prospects (2026, retrieved 2026-03-10)
- LivingCost (2026, retrieved 2025-10-14)
Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.
The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.
Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.
A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).
Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.
Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.
Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.
Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.