Zim records trade surplus in October

Harare, (New Ziana) – Zimbabwe recorded a trade surplus of US$83 million in October after the country exported more goods than it imported, latest trade data shows.

The data, from the Zimbabwe National Statistics Agency availed on Tuesday, shows a reversal from the previous month when the country recorded a trade deficit of US$25.5 million after the country imported goods worth US$403 million versus exports of US$378.4 million.

The agency said the country exported US$483.3 million worth of goods in October, while imports stood at US$400.6 million.

China, Botswana, the United Arab Emirates, Belgium and Kenya are among countries that stood out among the big export destinations for Zimbabwean products, while some relatively unknown destinations included Greece, Hong Kong, Indonesia and Sudan.

Top exports during the month included tobacco, live animals, tea, maize seed, nickel and cane sugar.

On the other hand, South Africa, Singapore, Tanzania and Mauritius were among top import sources, while some of the goods were acquired from fringe sources such as Bahrain, Afghanistan, Gambia and Iraq.

Milk, prefabricated buildings, medical instruments, vehicle parts and trailers and tractors were listed as major products bought from outside the country during the period. Cloves, sunflower seeds and books also made the list.

The government, under President Emmerson Mnangagwa, is pushing to reverse the long running trend where the country recorded consecutive month-on-month trade deficits, in part by making it too expensive to import unproductive goods, some of which were locally produced
New Ziana