Mozambique: Fuel imports drop below €1 billion in 2025

According to official data, Mozambique spent $1.142 billion (€994 million) on fuel imports throughout last year, a bill that has been declining annually. According to a statistical report from the Bank of Mozambique covering January to December, diesel accounted for $771.6 million (€671.5 million) of that total, while petrol imports amounted to $326.7 million (€284.3 million). Overall, the value of fuel imports fell by 5% in 2025 compared to the $1.198 billion (€1.042 billion) recorded in 2024, marking the lowest point since the Covid-19 pandemic, according to central bank data.

This compares with $1.417 billion (€1.233 billion) in 2023. These figures are a significant departure from 2022, when fuel import costs peaked at $1.966 billion (€1.710 billion). The Secretary of State for the Treasury and Budget said on 10 March that Mozambique holds 75,000 tonnes of fuel, a quantity deemed sufficient until early May, following Iran’s closure of the Strait of Hormuz, and purchased at prices set before the escalation of the Middle East conflict.

He further said that approximately 80% of Mozambique’s fuel imports typically pass through the Strait of Hormuz, originating from the Middle East. Fuel accounted for nearly half of the $2.396 billion (€2.085 billion) in intermediate goods imported by Mozambique in 2025, including electricity, aluminium, construction materials, oil and lubricants, fertilisers, cement, and tar. Rogério Zandamela, Governor of the Bank of Mozambique, said on 23 March, after a meeting of the Monetary Policy Committee (CPMO) in Maputo, that there was no current necessity for the central bank to return to the direct financing of fuel imports, despite the supply crisis caused by the conflict in the Middle East.

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Addressing concerns about the availability of foreign currency for these imports, he said the banking sector had done a good job, acknowledging that while the performance was not perfect, it had allowed the country to maintain fuel financing at a reasonable level. Mozambique faced a fuel supply crisis in the early months of 2025, linked to a shortage of foreign exchange, prompting the central bank to implement measures to boost liquidity within commercial banks to cover import requirements. In 2023, the Bank of Mozambique said it would cease co-financing the country’s fuel bills, noting that commercial banks could now handle the costs. According to bank director Silvina de Abreu, this co-financing arrangement dates back to 2005, reaching 100% after 2010, as large invoices ranging from $10 million to $20 million became unmanageable for a single bank or a group of banks to cover.

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