• Trade deficit widened to $207.6 million, up 4.2% from August 2024
  • Exports declined 14.7% to $575 million
  • Top export destinations were UAE (41.0%), South Africa (25.4%), and China (14.2%)
  • Major import sources included South Africa (36.8%), China (19.2%), and Bahamas (6.1%)

 

*value in US$ MN

Harare- Zimbabwe's September trade deficit widened by 4.2% to US$207.6 million from US$199.1 million in August, according to the latest trade data released by Zimstat. This increase resulted from a substantial 14.7% decrease in exports, which translates to US$99.1 million, dropping from US$674 million in August 2024 to US$575 million.

Although imports decreased by 10.4% (US$90.7 million) to US$782.6 million, down from US$873.2 million in August 2024, the significant decline in exports offset this reduction.

This occurred despite a 40.2% surge in August gold output from 37.9% in the prior month.

However, the increased gold exports failed to bridge the gap, as their value decreased. The gap widened due to a plunge in other exports, including nickel ores and concentrates, which halved, ferro alloys, which more than halved, and coke and semi-coke of coal, which decreased.

                                            

Among the top ten products exported in September 2024 were semi-manufactured gold, tobacco (partly or wholly stemmed/stripped), and nickel mattes.

These products accounted for 40.2%, 19.3%, and 13.0% of the total export value of US$575.0 million, respectively.

The country's major export destinations in September 2024 included the United Arab Emirates (41.0%), South Africa (25.4%), and China (14.2%), which collectively accounted for around 81% of the total export value.

Conversely, the top ten imported products in September 2024 comprised mineral fuels, mineral oils and products, machinery and mechanical appliances, vehicles, and cereals.

These products constituted 20.7%, 14.6%, 8.2%, and 7.6% of the total import value of US$782.6 million. The major source countries for imports were South Africa (36.8%), China (19.2%), Bahamas (6.1%), and Singapore and the UAE, each accounting for 4.6%.

These five countries collectively accounted for approximately 71% of the total import value of US$782.6 million.

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