Trade slumps in January, February

11

ZIMBABWE’S trade with other nations was subdued in January and February, as both imports and exports slumped to their lowest levels since 2021, the latest ZimStat data shows.
The country’s total exports were flat in January and February at US$428 million, compared to US$633 million in December and US$543 million last January. Imports were also unchanged during the two months at US$599 million, compared to US$760 million in December and US$629 million last January.
The country’s trade deficit grew by 34,7 percent to US$170 million for the two months, compared to December.
The southern African country has been running trade deficits since 2009, and official figures show that the cumulative shortfall has surpassed US$22 billion.
Its trade deficit widened by US$567 million to US$2,06 billion in 2022, as the growth in imports outpaced the rise in exports.
ZimStat said the main exports in January and February were industrial supplies, fuels and lubricants, which accounted for about 95 percent of the total.