Paul Nyakazeya, Group Digital Editor 
ZIMBABWE exports went up 20,9 percent from US$535,4 million last October to US$647 million in November, the Reserve Bank of Zimbabwe (RBZ), has said.
In its latest monthly economic review released last week, the RBZ said total merchandise trade for the month of November stood at US$1,3 billion, a 6,6 percent increase from US$1,2 billion realised in the previous month.
“Compared to the corresponding month in 2020, merchandise exports for the reporting month were 22,5 percent higher.
“The improvement in total merchandise trade was underpinned by a marked increase in exports during the month under review. Relative to the previous year, total merchandise trade rose by 28,1 percent, from US$1 billion recorded in the comparable month in 2020,” the central bank said.
During the month of November, tobacco was the major driver of export earnings for the country at US$214,6 million, followed by platinum group metals (PGMs), US$192,7 million and gold, US$139,1 million.
“Tobacco exports were markedly higher in November 2021, on account of the commodity’s cyclical nature, where it invariably reaches the peak of its export cycle towards the end of the year,” RBZ said.
During the month under review, about 34,9 percent of the country’s exports were destined for South Africa (SA), followed by the United Arab Emirates, 22,4 percent, Mozambique, 8,2 percent and Belgium, 2,5 percent. The country’s top imports were diesel (US$69,7 million), fertilisers (US$50,7 million) and petrol (US$30 million).
“Notably, the global rise in oil prices, owing to supply deficits, largely drove the country’s import bill,” the bank said.
Merchandise imports declined by 4,2 percent, from US$712,9 million in October 2021 to US$683,1 million.
Imports in the reporting month were 33,9 percent higher than those recorded in the corresponding month in 2020. The country’s imports for the month of November 2021 were mainly sourced from SA (43,7 percent), Singapore (14 percent), China (11,3 percent) and other smaller markets.
“The country’s trade balance narrowed from a deficit of US$177,5 million in October 2021 to a deficit of US$35,9 million in November 2021. This was on account of an increase in exports, against a decline in imports,” RBZ said.
On a year-on-year basis, the country’s trade balance worsened from a surplus of US$18,2 million in the corresponding month in 2020 to a deficit of US$35,9 million during the month under analysis.
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