Zimbabwe trade deficit slightly down at $1.3 billion


0

Zimbabwe’s trade deficit narrowed by 5 percent to $1.3 billion in the first half of the year, after exports fell 9 percent, latest data from the Zimbabwe National Statistics Agency (Zimstat) shows.

Imports in the period to June amounted to $2.6 billion against $1.3 billion exports. In the same period last year, the country’s imports were $2.5 billion against exports of $1.1 billion, giving trade deficit of $1.4 billion.

Major exports included semi-processed gold worth $394 million, flue cured tobacco worth $251 million, ferrochrome worth $163 million, nickel ore and concentrates for $171 million, diamonds for $34 million and chromium ores and concentrates at $51 million.

Other exports included beef, agricultural produce as well as wines, minerals and scrap metal.

Imports included diesel ($394 million), unleaded petrol ($195 million), electricity ($89 million), crude soya bean oil ($52 million), among others.

Some of the imported products include fish, milk, cheese, sausage casings, sugar related confectionaries, biscuits, electrical energy, chemicals, vehicles and generators.

In 2016, Zimbabwe’s total exports fell 7 percent, to $3.37 billion from $3.61 billion the previous year while Imports declined by 11 percent to $5.35 billion from $6 billion in 2015.

In his 2017 budget review, Finance Minister Patrick Chinamasa said total imports are seen at $5.4 billion versus exports of $3.9 billion in 2017, giving $1.5 billion trade deficit. –The Source

(42 VIEWS)

Don't be shellfish... Please SHARETweet about this on Twitter
Twitter
Share on Facebook
Facebook
Share on LinkedIn
Linkedin
Email this to someone
email
Print this page
Print

Like it? Share with your friends!

0
The Insider

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

0 Comments

Your email address will not be published.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