Zimbabwe earned more than US$1 billion in export revenue in November last year, marking the second consecutive month the country has recorded its highest monthly export earnings in history.
Exports rose to US$1,046 billion in November, up from US$1.02 billion in October, while imports declined to US$955,8 million, resulting in a widened trade surplus of US$90.5 million, according to data from the Zimbabwe National Statistics Agency (Zimstat).
The November surplus represents a 215 percent increase from October’s surplus of US$28.7 million and reflects sustained momentum across mining, agriculture and emerging industrial value chains.
Presenting the November 2025 External Trade Statistics, Zimstat Balance of Payments and Finance Statistics manager Ms Mable Chimhore said the figures signalled a marked improvement in the country’s external trade performance.
“The resulting trade balance amounted to a surplus of US$90.5 million, a 215.2 percent increase from the October 2025 surplus of US$28.7 million,” Ms Chimhore said.
The November performance built on a strong second-half recovery, with exports climbing steadily from US$876 million in July to US$878.2 million in August, before jumping to US$851.1 million in September and surging past the US$1 billion mark in October.
According to Zimstat, Zimbabwe’s export earnings remain concentrated in a few high-value commodities, with semi-manufactured gold accounting for 42.4 percent of total exports, followed by tobacco at 23.7 percent and nickel mattes at 17 percent.
Regional trade within the Southern African Development Community (SADC) was dominated by nickel mattes, which made up 74.6 percent of exports to the bloc.
Tobacco and coke followed at 4.4 percent and 4.1 percent, respectively, with the three commodities accounting for about 83 percent of all exports to the region.
Exports to the European Union were led by tobacco, partly or wholly stemmed and stripped, which contributed 68.3 percent of shipments to the bloc.
Industrial diamonds accounted for 13.2 percent, while ferro-chromium made up 7 percent, highlighting sustained global demand for Zimbabwe’s agricultural and mineral products.
On the import side, South Africa remained Zimbabwe’s leading source of goods, supplying 39.2 percent of total imports.
Other major trading partners included China, the Bahamas and Bahrain.
The bulk of imports comprised industrial supplies, which accounted for 39.5 percent, and fuels and lubricants at 19.2 percent, reflecting continued demand for production inputs and energy to support economic activity.
Commenting on October’s record-breaking export performance, ZimTrade chief executive Mr Allan Majuru said the results reflected the combined impact of improved production capacity, firmer commodity prices and deliberate Government efforts to promote value addition and export growth.
“The performance reflects the growing strength of Zimbabwe’s productive sectors, the firming global demand for the country’s goods and the deliberate shift towards value addition that the Second Republic continues to promote.
“It also highlights the impact of deliberate interventions by national trade development and promotion agency, ZimTrade, designed to boost capacity and competitiveness, including expanding market access and supporting value addition.
“These efforts align with the Second Republic’s broader push for economic transformation and are being supported through economic diplomacy led by the Ministry of Foreign Affairs and International Trade.
“The ministry’s work in strengthening trade links, negotiating new market pathways and deepening regional cooperation continues to open fresh opportunities for exporters.”
Analysts say Zimbabwe’s strong reliance on high-value minerals and agricultural commodities, combined with strategic imports of essential production inputs, has been central to sustaining the trade surplus.
Although the country traditionally records stronger export activity in the second half of the year, the scale of the October and November performance exceeded expectations and placed Zimbabwe among the top export performers in the SADC region.
“The November figures provide a snapshot of resilience in Zimbabwe’s external trade,” Ms Chimhore said.-herald
