Zimbabwe can maintain a positive trade balance through structural transformation that prioritises reducing energy import dependence, bolstering food production and increasing the export of value-added products, a local consumption lobby group says.
In its 2025 Import and Export Trade Analysis Report, Buy Zimbabwe said Zimbabwe significantly narrowed its trade deficit in 2025, reducing it to US$404 million from an annual average of over US$1,6 billion between 2021 and 2024.
Buy Zimbabwe said this is the first time in five years that the country has recorded such an improvement in its trade balance, signalling a positive shift in trade dynamics.
It noted that the turnaround was largely driven by strong export growth, particularly in semi-manufactured goods, nickel mattes and tobacco.
Regardless of the positive development, Buy Zimbabwe said there is a deep-seated structural weakness on the import side, where energy products remain the single largest drain on foreign currency, with diesel and petrol imports exceeding US$1,7 billion in 2025.
Heavy reliance on imported fuel, the lobby group noted, leaves the economy vulnerable to global price volatility and places sustained pressure on foreign currency reserves.
Food imports, including maize, wheat and soya products, alongside fertiliser imports, reflect ongoing gaps in domestic agricultural output and input production.
On the export front, Buy Zimbabwe said foreign currency earnings remain highly concentrated, with nearly half of total export revenues in 2025 coming from semi-manufactured products, while nickel mattes and tobacco accounted for a further 28 percent.
A positive trade balance is critical to generate essential foreign currency, stabilise the local currency (ZiG) and foster economic growth.
It enables the nation to move away from being a net-importer, reduces reliance on foreign debt, encourages local industrial production, and attracts investment, as seen in recent export-driven gains in mining and agriculture.
“Overall, the Buy Zimbabwe 2025 Import and Export Trade Analysis Report concludes that while progress has been made, lasting trade resilience will only be achieved through structural transformation,” reads the report.
“Key priorities include reducing energy import dependence through local refining capacity, renewable energy, and solar solutions, strengthening domestic food production in maize, wheat and soya to curb imports, establishing local fertiliser manufacturing to support sustainable agriculture and accelerating downstream processing and value addition in mining and agriculture to diversify exports and maximise foreign currency earnings.”
“Zimbabwe’s 2025 trade story proves that improvement is possible.
The challenge now is to convert this momentum into long-term resilience by anchoring growth on local production, value addition, and strategic import substitution.”
Although mining exports such as gold provided additional support, Buy Zimbabwe said, the narrow export base exposes the country to global commodity price shocks, saying that the sharp decline in nickel ore exports — from over US$1 billion in 2021 to just US$118 million in 2025 — starkly illustrates the risks of reliance on raw commodity exports.-herald
