07-05-17 by Spotlight Zimbabwe

Zimbabwe trade deficit tops $1billion in five months

Zimbabwe’s trade deficit stood at $1.01 billion in the first five months of the year, a slight improvement from $1.12 billion last year, according to the latest data from the Zimbabwe National Statistics Agency (Zimstat).

Imports stood at $2.14 billion while exports amounted to $1.13 billion.

Major exports included semi-processed gold worth $320 million, flue cured tobacco worth $229 million, ferrochrome worth $148 million, nickel ore and concentrates for $143 million, diamonds $34 million and nickel matters $20 million.

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

Imports included diesel ($318 million), unleaded petrol ($161 million), electrical energy ($76 million), wheat ($46 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. – The Source

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