Harare, (New Ziana) – The country posted a strong trade surplus in December of US$240.2 million, representing a 163.8 percent increase from the US$91.1 million it recorded in November, figures from the Zimbabwe National Statistics Agency (ZIMSTAT) show.
A trade surplus occurs when the value of a country’s exports exceeds that of its imports, while a deficit arises when imports outweigh exports. The latest figures point to strengthening export performance coupled with a decline in imports during the month under review.
In its December 2025 trends in external trade report, ZIMSTAT said exports in December 2025 amounted to US$1.142 billion, reflecting a 9.1 percent increase, from the US$1.046 billion recorded in November, a growth largely driven by mineral and agricultural exports, with semi-manufactured gold, tobacco (partly or wholly stemmed/stripped), and nickel mattes emerging as the leading export products. These commodities accounted for 47.3 percent, 17.7 percent and 16.3 percent, respectively, of total export earnings.
In contrast, imports declined by 5.6 percent to US$901.5 million in December, down from US$955.2 million in November with mineral fuels, mineral oils and related products, machinery and mechanical appliances, cereals, and vehicles dominating the import bill, contributing 22.6 percent, 13.2 percent, 6.9 percent and 5.7 percent, respectively, of total imports.
The United Arab Emirates was Zimbabwe’s largest export destination in December 2025, absorbing 49.9 percent of total exports, followed by South Africa at 21.6 percent and China at 17.3 percent. Collectively, the three countries accounted for about 89 percent of the total export value of US$1.142 billion.
On the import side, South Africa was the main source country, supplying 38.8 percent of Zimbabwe’s imports. China followed with 15.5 percent, while Bahrain and Mozambique accounted for 13.5 percent and 4.8 percent, respectively. The four countries contributed approximately 73 percent of the total import value.
Within regional blocs, exports to the Southern African Development Community (SADC) in December were largely driven by nickel mattes, which accounted for 72.5 percent of the total SADC export value of US$256.1 million, with tobacco, nickel ores and concentrates, and coke and semi-coke of coal also featuring prominently, with the four products collectively accounting for 90 percent of exports to the bloc.
Exports to the Common Market for Eastern and Southern Africa (COMESA) were valued at US$7.4 million, dominated by coke and semi-coke of coal (56.0 percent), bituminous coal (21.9 percent), and tobacco (12.1 percent).
Meanwhile, ZIMSTAT said exports to the European Union (EU) totalled US$17.9 million, with tobacco accounting for 64.2 percent, followed by ferro-chromium (13.0 percent), and chromium ores and concentrates as well as industrial diamonds at 8.0 percent each. These products made up 93 percent of exports to the EU.
Under the African Continental Free Trade Area (AfCFTA), Zimbabwe exported goods worth US$257.0 million, largely comprising nickel mattes (72.2 percent), tobacco (6.8 percent), nickel ores and concentrates (6.0 percent), and coke and semi-coke of coal (5.2 percent). Together, these products contributed about 90 percent of total AfCFTA exports.
On the import front, major imports from SADC in December 2025 included machinery and mechanical appliances (12.6 percent), cereals (10.7 percent), mineral fuels and oils (7.6 percent), and animal or vegetable fats and oils (5.9 percent). These products accounted for about 37 percent of the US$473.0 million worth of imports from the bloc.
Imports from the EU were valued at US$26.8 million and were dominated by machinery and mechanical appliances (38.8 percent), miscellaneous chemical products (11.8 percent), and electrical machinery and equipment (8.4 percent), together constituting 59 percent of EU imports.
From COMESA, Zimbabwe imported goods worth US$73.6 million, mainly salt, sulphur, earths and stone and plastering materials (17.5 percent), fertilisers (9.9 percent), perfumery and cosmetic preparations (6.6 percent), and cereals (6.4 percent).
Similarly, imports under AfCFTA were largely concentrated in salt, sulphur, earths and stone, fertilisers, perfumery and cosmetic preparations, and cereals, which together accounted for 40.4 percent of the total AfCFTA import value of US$482.7 million.
Overall, the December 2025 trade figures underscore Zimbabwe’s improved export performance and moderated import demand, resulting in a substantially stronger trade surplus at year end.
New Ziana
