Mozambique's Gross Domestic Product (GDP) Overview (1991–2023)
Mozambique's GDP has undergone a transformative journey from 1991 to 2023, starting at approximately $3.9 billion as the country emerged from civil war. The early 1990s saw modest growth, but by the mid-2000s, the economy began to expand significantly, driven by investment in natural resources, agriculture, and infrastructure development. By 2010s, GDP peaked by discoveries of natural gas and other minerals, leading to increased foreign investment and economic optimism.
However, challenges such as political instability, economic mismanagement, and the impacts of climate change, including devastating cyclones, have hindered consistent growth. In recent years, the GDP faced downturns due to the global pandemic and economic disruptions, but the chart indicates a gradual recovery towards approximately $20.6 billion in 2023.
Mozambique's GDP has undergone a transformative journey from 1991 to 2023, starting at approximately $3.9 billion as the country emerged from civil war. The early 1990s saw modest growth, but by the mid-2000s, the economy began to expand significantly, driven by investment in natural resources, agriculture, and infrastructure development. By 2010s, GDP peaked by discoveries of natural gas and other minerals, leading to increased foreign investment and economic optimism.
However, challenges such as political instability, economic mismanagement, and the impacts of climate change, including devastating cyclones, have hindered consistent growth. In recent years, the GDP faced downturns due to the global pandemic and economic disruptions, but the chart indicates a gradual recovery towards approximately $20.6 billion in 2023.
Discover additional trends and data on Urbanization rate in Mozambique, Mozambique’s military spending, Mozambique’s population growth.
