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Trade and Regional Integration in Mozambique: FY2019/20
Mozambican exports have been volatile and growing faster than imports during the period from 2015 to 2018. This has had a short-term positive impact on gross official reserves supported by depreciation of the MZN. The growth in exports has not led to a significant improvement of Mozambique’s current account balance due to the deteriorating balance of services trade and rising megaproject imports. Mozambique is still dependent on raw commodity exports which are also its top traded goods with its neighbours in the Southern African Development Community (SADC). However, Mozambique is highly integrated in SADC but its trade is unbalanced due to the persistent merchandise trade deficit with the region. This suggests that there is significant room to increase and diversify Mozambique’s exports to the SADC region.