Paul Nyakazeya, Group Digital Editor 
ZIMBABWE’S total merchandise trade decreased by 3,8 percent to US$1,18 billion in September 2021, after a decline in exports, latest data shows.
According to the Reserve Bank of Zimbabwe’s (RBZ) monthly economic review for October, which was released last Friday, total merchandise trade rose by 40,3 percent in September year-on-year, from US$840,6 million recorded in the comparable month in 2020.
“During the month of September 2021, the country’s merchandise exports amounted to US$514,3 million, 13,9 percent down from US$597,2 million realised in the prior month. In comparison to the corresponding month in 2020, merchandise exports for the current month were 28,9 percent higher,” the RBZ said.
Governor of the Reserve Bank of Zimbabwe, John Mangudya.
In 2020, global trade was adversely affected by disruptions induced by Covid-19 restrictive measures imposed in most countries.
The country’s exports continued to be dominated by mineral commodities, on the backdrop of favourable global prices, stemming from supply shortfalls and growing global demand.
“The major drivers of the country’s export earnings were gold, US$168,6 million; platinum group metals (PGMs), US$164,9 million; tobacco, US$72,7 million; and ferro-chrome, US$34.5 million,” RBZ said.
During the month under review, the country’s exports were mainly destined for South Africa (39,1 percent), the United Arab Emirates (34,0 percent), Mozambique (8,3 percent); and China (4,8 percent).
The country’s merchandise imports rose by 5,8 percent, from US$628,7 million in August to US$665,1 million in September 2021. Compared to the same month in the previous year, the imports were 50,6 percent higher.
“During the month under analysis, the share of imports by commodity to total imports was as follows: diesel, 7,7 percent; petrol, 4,2 percent; Covid-19 vaccines, 3,9 percent; and crude soya bean oil, 3,3 percent,” the apex bank said.
The growth in the country’s fuel import bill was largely attributable to the global rise in oil prices, owing to supply deficits as well as a resurgence in mobility as national lockdowns were gradually eased.
The central bank said the country’s trade balance significantly widened from a deficit of US$31,4 million in August to a deficit of US$150,7 million in September 2021. This was on account of the increase in imports relative to exports.
On a year-on-year basis, the country’s trade position also worsened from a deficit of US$42,9 million in the corresponding month in 2020 to US$150,7 million, during the month under review.
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