Mozambique

Mozambique: Heavy Debt Load and Low-Income Profile Amid Modest Defense Spending

Mozambique's economy was valued at $22.75 billion in 2024, with per-capita output of just $656.78, on a population of 34,631,766, per World Bank WDI figures. Government debt is projected at a high 106.1% of GDP in 2026, per IMF WEO — a notably elevated figure relative to the country's economic base. Foreign reserves stood at $3.84 billion in 2024, per World Bank WDI.

Defense Posture

SIPRI Milex data put military spending at $468.06 million in 2025, equivalent to 1.865% of GDP by SIPRI's own GDP series for that year. Active personnel numbered 11,000 in 2022, per COW NMC, with a composite index of national capability (CINC) of 0.0013037785 for the same year, also per COW NMC.

Governance

V-Dem v15's 2025 scores show an electoral democracy index of 0.279, a liberal democracy index of 0.175, and a state capacity score of 0.29 — figures indicating constrained electoral competitiveness and limited administrative reach, per V-Dem's framework.

Energy

Mozambique's primary energy consumption was 0.2054 exajoules in 2023, per Our World in Data's energy series, with electricity generation of 19.79 terawatt-hours in 2024 from the same source. Gas production is recorded at 66.456 terawatt-hours, but that figure dates to 2016, per Our World in Data — nearly a decade old and a notable gap given Mozambique's subsequent LNG development activity, which is not captured in this bundle. Oil production is recorded at 0.0 terawatt-hours, also for 2016.

Data Gaps

The gas and oil production figures above are stale (2016) and should not be read as representative of Mozambique's current energy sector; this bundle contains no more recent production series. The 1.865% milex/GDP figure is tied to SIPRI's own GDP series for 2025 and should not be checked against the World Bank's $22.75 billion GDP figure for 2024, a different year and series. The debt figure (106.1% of GDP, 2026) is a projection and should be read as such rather than a confirmed outturn.

Sources: World Bank WDI, IMF WEO, SIPRI Milex, COW NMC, V-Dem v15, Our World in Data (Energy).