Zimbabwe registered an increase in the value of its exports and a decrease in the value of its imports in 2021, significantly cutting its trade deficit.
According to the Zimbabwe National Statistical Agency (Zimstat), the trade deficit went down from $177 million in October to $36 million in November on the back of a 20.93% rise in exports and a 4.07% decrease in imports.
The major contributors to the rise in exports were food and beverages and transport equipment, which were valued at $19.7 million and $2.84 million, respectively.
The leading export commodity over the course of this period was semi-manufactured gold which accounted for almost a third (32.8%) of total exports, followed by nickel, mattes, ores and concentrates which accounted for 29.8% and then tobacco at 13.1%.
The country’s leading imports were fuels at 16.1%, machinery at 14.5% and vehicles at 7.7%.