UAE remains Zim’s largest export market

THE United Arab Emirates (UAE) has maintained its top spot as the biggest destination for Zimbabwean exports after 42 percent of the shipments, valued at US$293,32 million, went to the Middle East country in October 2024.

This represents a one percent growth from the US$235,6 million exported to the UAE in September 2024.

South Africa, at 24,7 percent of total exports (US$172,16 million) and China at 10, 5 percent (US$ 73,15 million) were among the country’s top three export destinations.

Statistics show that the UAE has grown into a significant trading partner of Zimbabwe, as trade between the two has been growing exponentially over the years.

Before 2018, the UAE did not even feature among the top 10 export destinations for Zimbabwe’s products.

Exports to the UAE grew to US$1,9 billion in 2023 from US$96 million in 2014.

This highlights the growing economic ties between Zimbabwe and the UAE.

The UAE is a lucrative market and an important export hub, which has grown to become one of the world’s largest export centres.

While Zimbabwe’s exports to the UAE continue to grow, it is somehow worrying that the exports have remained mainly composed of primary products.

Most of Zimbabwe’s shipments to the UAE are mainly primary products such as raw, semi-processed minerals and horticultural products.

Government said efforts should be made to grow the export of value-added products, particularly new products that Zimbabwe has a comparative advantage.

Zimbabwe’s imports from the UAE include fertilisers, electrical equipment and gadgets, clothing and textiles, pharmaceuticals, aircraft and spacecraft equipment, mineral fuels and plastics, among others.

“Among the country’s major export destinations in October 2024 were the United Arab Emirates (42 percent), South Africa (24, 7 percent) and China (10, 5 percent).

“The three countries accounted for around 77 percent of the total export value of US$698,1 million,” said Zimbabwe National Statistics Agency (Zimstats) in its external trade statistics for October 2024

This comes as the Government has been deploying trade attachees to several countries across the world in recent years to enhance the country’s export footprint. Deployments have been made to several countries, which include the UAE, Belgium, Brazil, Turkey, China, France, Ghana, the Democratic Republic of Congo and India.

To grow trade ties with Zimbabwe, several UAE-based entities from diverse sectors visited the country to scout for potential investment opportunities.

The sectors include satellite communications, agri-commodities, vegetables and fruits trading, foodstuffs, tea companies, halal trade and marketing.

However, Zimbabwe’s total value of exported goods in October 2024 was US$698,1 million, representing a 21,4 percent increase from US$575 million reported in September 2024.

Total imports for October 2024 amounted to US$835,8 million, an increase of 6,6 percent from US$784,4 million recorded in September 2024.

Major source countries for Zimbabwe’s imports in October 2024 were South Africa (39,6 percent), China (13,8 percent), Bahamas (8,3 percent) and Singapore (5, 7 percent)

The four countries accounted for around 67 percent of the total imports value of US$835, 8 million.

Some of the main imports into the country included food and beverages, industrial supplies, fuels and lubricants, capital goods except transport equipment, and parts, transport equipment and parts as well as consumer goods.

Overall Zimbabwe recorded a trade deficit of US$137,7 million, translating to a 34, 3 percent decrease from a deficit of US$209, 5 million recorded in September 2024.-herald