It is not only a significant emerging economy for Mozambique itself but a portal of 360 million people in South Africa. Mozambique gives its neighboring countries an impressive logistics hub and offers most of them the nearest connection to the Indian Ocean. It has five seaports, linked by road and rail. It borders Malawi, South Africa, Swaziland, Tanzania, Zambia, and Zimbabwe. Mozambique is a member of the South Africa development community (SADC). Among its advantages are lowered tariffs for 85% of intra-regional imports.
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The ultimate purpose of SADC is a single market with open domestic commerce, common tariffs, and the freedom of movement between the Member States for labour and resources. SADC is a cornerstone of the African continental area of free trade, which seeks to provide the African continent with the same advantages and thereby to become the largest free trade area in the world.
1. Agriculture Sector
Agriculture in Mozambique is the economic pillar and the country has a huge growth opportunity in the industry. The vast majority of the population is living on agriculture and over 80 per cent of the workforce. In 2009, agricultural production contributed 31.5% of GDP, while trade and services contributed 44.9%.
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In comparison, 20% of the overall export figures were from agriculture in 2009, mainly through the export of fish (primarily shrimps and creeping pigs), wood, copra, cotton, tea and tobacco, cash nuts, or citrus fruits.
The nation has a variety of climatic conditions, offering a wide range of agricultural production opportunities. It is open to the markets in the Near East and Asia because of its geographical location. But in many agriculture industries, the nation still imports more than it does.
The SADC, most of which have been imported, is Mozambique's third-largest intake of rice. Rice demand, which rises by 6 to 7% a year, signals an increasing divide between supply and demand.
2. Natural gas business
Sasol (South Africa) in the Inhambane province, which contains proven reserves of 2.6 trillion cubic feet, currently manages Mozambique's supply (TCF). The natural gas is manufactured and refined at a central plant in Temane, then exported to southern Mozambique for domestic use through an 865-km pipeline. In addition to its current petroleum facilities, Sasol will build an integrated oil and liquéfied petroleum-gas plant.
Related Projects: Industrial Gases Projects
The Mozambique government has concluded that some natural gas output in the Rovuma Basin would be located to meet domestic requirements, and a tender was opened by the Ministry of Mineral Resources and Energy for companies involved in developing industrial gas usage projects.
3. Mineral water Busienss
The Mozambique bottled water market amounted to US$ 45 million (retail prices calculated) in 2015. Until 2025, the Mozambique water demand is projected to rise to USD 267,49 million, an increase of 13,82 percent a year between 2020 and 2025 for CAGR. This is a decline from the rise in 2015-2019, which was about 27.25 percent annually.
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One of the most significant reasons for the growth of the global demand for bottled water in the past few years is the increasing customer consciousness and health care services. In several countries, including America, the category has expanded substantially, outpacing carbonated soft drinks.
4. Cosmetics Business
In 2019, the worldwide size of the market in cosmetic products was estimated at $380.2 billion and is expected to exceed $463.5 million by the year 2027. Currently, cosmetics are an essential aspect of contemporary humans' lifestyles. Moreover, the growth of knowledge of outward attractiveness along with an internal intelligence of the individual has become one of the main drivers in the global market for cosmetics.
Currently, the use of cosmetics by men is increasing in their everyday routine along with women, supplementing the growth of demand in the global cosmetics industry. Over this lifestyle change, the global cosmetic industry has grown.
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