Zimbabwe Trade Performance Jan-Aug 2018

1.0 Trade performance (February to August 2018)

2.0 Zimbabwe trade statistics as at 31^st of August show that:

• Exports increased by 30% from US$346 million in February 2018 to US$449 million in August 2018 whilst imports increased by 0.3% from US$575 million in February 2018 to US$576 million in August 2018. Consequently, the country’s trade deficit at US$127 million in August 2018 decreased by 44% when compared to the US$229 million recorded in February 2018.
• Month on Month exports increased by 32% from US$340 million in July to US$449 million in August whilst imports increased by 3% from US$560 million in July to US$577 million in August. The Trade deficit decreased by 42% from US$220 million in July 2018 to US$127 million in August.
• During the period February to August 2018, the Country’s total exports amounted to US$2.4 billion, indicating a 24% increase from US$1.9 billion recorded in the same period in 2017. The total import bill increased by 26% from US$3.2 billion in 2017 to US$4 billion in 2018. The Trade deficit consequently increased by 28% from US$1.2 billion between February to August 2017 to US$2.4 billion during the same period this year.
• Zimbabwe’s total trade for the period February to August 2018 increased by 25% to US$6.4 billion from the US$5.1 billion recorded in the same comparative period in 2017.
• During the period under review, Zimbabwe’s exports were largely made up of primary commodities such as semi-manufactured gold (34%), nickel mattes (14%), flue-cured tobacco (12%), nickel ores & concentrates (11%), ferro-chromium (7%), chromium ores & concentrates (3%), jewelry (2%), diamonds (2%) and platinum (1%). On the other hand, imports were largely made up of diesel (15%), unleaded petrol (8%), electrical energy (3%), crude soya bean oil (2%), rice (2%), medicaments (2%), wheat (1%), motor vehicles (1%), and ammonium nitrate (1%).
• South Africa remains the largest market for Zimbabwean products, taking 46% of total exports, followed by United Arab Emirates with a (22%) market share, Mozambique (10%), Zambia (2%) and China (1%) among others. On the other hand, major source markets in the same period were South Africa (42%), Singapore (22%), China (5%), Japan (3%), Mauritius (3%), India (3%) United Kingdom (2%) and Mozambique (2%), among others.

Source: ZimStat