Zim exports defy the odds

ZIMBABWE’S exports grew by 2,7 percent in 2020 to US$4,39 billion reflecting resilience by local companies to the Covid-19 pandemic.

During the onset of the Covid-19 pandemic, the World Trade Organisation (WTO) projected that “world trade is expected to fall by between 13 percent and 32 percent in 2020 as the Covid-19 pandemic disrupts normal economic activity and life around the world”.

Against this background, demand in export markets across sectors went down and projections were that developing economies like Zimbabwe will likely face negative consequences to both economy and trade.

ZimTrade said in the face of such a negative projection, it was encouraging to note that Zimbabwean exports last year registered a positive growth.

The country’s trade development and promotion agency, said the positive gains indicate that local firms are in a position to perform far better if the environment is enabling.

“According to recent statistics published by Zimstat, Zimbabwe’s exports grew by 2,7 percent between January-December 2020 compared to the previous year,” said the agency.

“Local companies were able to sustain exports regardless of the challenges to of production and movement of goods that hit almost all countries across the world.

“In terms of monitory value, the nation’s exports last year stood at US$4,39 billion, up from US4, 28 billion recorded in the same period in 2019,” said ZimTrade.

– chronicle.co.zw