Gold export earnings surge 136% as global prices hit record highs
STAFF WRITER
Earnings from Zimbabwe’s gold exports soared by 135,6% in January 2026 compared to the same month last year, Business Times can report.
Official data from the Reserve Bank of Zimbabwe (RBZ) shows that gold revenues rose to US$290,1m, up from US$123,1m in January 2025.
The jump mirrors the metal’s extraordinary 95% year-on-year price increase on international markets, driven by unprecedented global demand.
The surge comes amid record-breaking gold prices, which have consistently surpassed US$5,000 per ounce. This follows a historic 2025, when Zimbabwe exported an all-time high of 44,7 tonnes of gold worth US$4,8bn— nearly half of the country’s total export earnings. This marked a sharp increase from 33,7 tonnes produced in 2024, valued at US$2,53bn.
The inflows have also bolstered confidence in Zimbabwe’s gold-backed currency, the Zimbabwe Gold (ZiG), providing critical support for the fledgling unit amid ongoing macroeconomic pressures.
Artisanal and small-scale miners continue to dominate the sector, delivering roughly 75% of gold to Fidelity Gold Refinery last year.
Despite the strong earnings, total gold deliveries in January 2026 saw a slight year-on-year decline. The country’s sole authorised buyer reported 3,04 tonnes, down from 3,17 tonnes in January 2025. Small-scale miners contributed 2,24 tonnes, slightly lower than 2,27 tonnes last year, while large-scale producers delivered 808,4 kg, down from 903,2 kg.
