ZIMBABWE’S trade deficit narrowed by 26,4 percent to US$69,6 million in October, as exports rose faster than imports, latest data from the Zimbabwe National Statistics Agency (ZimStat) shows.
The country’s exports increased by 22,7 percent to US$831,9 million during the period.
According to the Reserve Bank of Zimbabwe, the country’s average balance of trade between 1991 and 2023 was a deficit of US$205,55 million per month.
The most recent data shows that Zimbabwe’s monthly imports totalled US$901,5 million which was 16,7 percent, more than the September imports of US$772,7 million.
For decades, Zimbabwe’s exports have been dominated by primary commodities such as nickel ores and concentrates, nickel mattes, gold, tobacco, ferrochromium, platinum and diamonds. Top exports during the month were tobacco, platinum and gold, which accounted for 27,6 percent, 25,9 percent, and 21,9 percent of the total export value.
According to the Reserve Bank of Zimbabwe, the country’s average balance of trade between 1991 and 2023 was a deficit of US$205,55 million per month.
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