Zim exports outrun imports: Zimstat

Zimbabwe’s exports increased by over 7 percent between July and August, with South Africa as the main export market, the Zimbabwe National Statistics Agency (Zimstat) has said.

On the other hand, imports rose by 4 percent over the same period.

Zimstat director for production statistics, Matiwonesa Phiri said Zimbabwe’s trade deficit decreased from US$179.8 million in July 2023 to US$170.1 million in August 2023, accounted for by an export increase of

7.7 percent from US$603.2 million in July 2023 to US$649.8 million inAugust 2023.

Imports, over the same period, rose by 4.7 percent from US$ 783.1 million to US$ 819.9 million. Phiri said major exports comprised of semi-manufactured gold which stood at 21.6 percent, nickel mattes 17.3 percent, tobacco 13 percent and mineral substances 21.5 percent.

“Main imports during the same period were composed of mineral fuels and

mineral products (19.4%), machinery and mechanical appliances (14.2%),

vehicles (8.4%), and electrical machinery and equipment (6.6%),” she

said. Phiri said the country’s major export destinations in August 2023 were

South Africa which accounted for 30.3 percent, United Arab Emirates 22.2 percent and China 18.3 percent.

Major sources of imports in the same month were South Africa, 32.7 percent, and China and Egypt at 14.0 percent and 6.1 percent respectively. -New Ziana