Zim narrows trade deficit in September

Harare (New Ziana) – The country recorded a trade deficit of US$94.2 million last month, representing a 44.7 percent improvement compared to August, a senior official of the Zimbabwe National Statistics Agency (Zimstat) said on Thursday.

Exports in September totalled US$678 million, versus imports of US$772.2 million, the agency said.

According to Zimstat, South Africa and the United Arab Emirates were the leading export markets for Zimbabwe in the period.

Acting director general of the agency, Matiwonesa Phiri said exports in September increased in value by 4.3 percent compared to August, while imports decreased by 5.8 percent.

“The trade deficit for September 2023 was US$94.2 million. This represents a 44.7 percent improvement when compared to a deficit of US$170.3 million recorded in August 2023,” he said.

Semi-processed gold topped exports at 29.6 percent, followed by other minerals at 17.4 percent. On the other hand, main imports were oils, fuels, machinery and mechanical appliances.

“The main products exported were semi-manufactured gold which accounted for 29.6 percent and other mineral substances which stood at17.4 percent. The main products imported were mineral fuels and mineral oil products (21.0%), machinery and mechanical appliances (13.4%),” said Phiri.

South Africa accounted for 30.0 percent of exports, and the United Arab Emirates 26.7 percent. On the other hand, South Africa and China were the main sources of imports, contributing 42.8 percent and 11.6 percent respectively.
New Ziana