Spot News ZW

Zimbabwe News Owls


Zimbabwe trade deficit drops 117.8 percent in March, according to Zimstat

Zimbabwe recorded a trade deficit of US$184.3 million last month, a 117.8 percent decline compared to US$84.6 million in February, according to data released by the Zimbabwe National Statistics Agency (Zimstat).

The statistics show the country imported more than it sold.

In terms of exports, it has emerged, Zimbabwe exported goods worth USS$534.7 million.

The amount represents a 17.1 percent decrease from US$645 million recorded in February against imports which stood at US$719 million.

Statistics also show imports for March decreased by 1.5 percent from US$729.6 million recorded in February.

Zimstat also reports that industrial supplies comprised 91.9 percent of the goods exported in March this year.

Among the top 10 products exported in March were semi-manufactured gold (23.6 percent), nickel mattes (16.1 percent), tobacco (12.3 percent) and others such as ferrochrome, coke and chromium.

According to Zimstat, South Africa, United Arab Emirates and China were the leading export markets for Zimbabwe in the period accounting for 79 percent of the total export value of USD534.7 million.

A total of 35.9 percent of the goods imported in March comprised industrial supplies, followed by the fuels and lubricants category which accounted for 20.2 percent.

Mineral fuels and mineral oil products (21.4%), machinery and mechanical appliances (13.0%), cereals (8.6%) and Vehicles (8.1%) were among the top 10 products imported in the same month.

Among the major source countries for imports in March were South Africa (38.5%), China (15.1%), Bahamas (9.4%) and Mozambique (3.9%).

The four countries accounted for around 70 percent of the total import value of USD 719 million.

Minerals and tobacco are top among Zimbabwe’s major exports, while raw materials and equipment, electricity and fuel rank high on imports.

Source | ZimLive


Your email address will not be published. Required fields are marked *