Mozambique is a country located in southeastern Africa. The official currency of Mozambique is the metical, which has a currency code of MZM. The metical was introduced in 1980, replacing the escudo at a rate of 1 metical = 100 escudos.The economy of Mozambique is largely based on agriculture, with around 85% of the population engaged in subsistence farming. Other major industries include fishing, forestry, and mining (particularly coal and titanium). Tourism is also an important source of revenue for the country.Since independence from Portugal in 1975, Mozambique has experienced significant political and economic turmoil. In recent years however, there has been some stability and economic growth thanks to foreign investment (particularly from China) and improved relations with neighboring countries such as South Africa.
