SA, Zim remain tight trade pals

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Harare -South Africa ranks highest on Zimbabwe’s trading partners list in the six months to June 2020, with the United Arab Emirates and Mozambique also doing roaring trade with the Southern African nation.

According to Zimbabwe’s statistics agency ZimStat, in the period under review, South Africa was Zimbabwe’s top export destination with goods and services amounting to US$711,9 million. Next was the UAE (US$458 million), and then Mozambique (US$178 million).

The three countries accounted for 72 percent of Zimbabwe’s exports.

Belgium and Uganda rounded out the top five export destinations for Zimbabwe.

Other major export destinations for Zimbabwean products in Southern Africa included Namibia, Botswana, Lesotho, the Democratic Republic of Congo, Mauritius and Malawi.

Zimbabwe also did significant trade with China, Pakistan, Sweden, New Zealand, Rwanda, Togo, Israel and Turkey, among others.

According to ZimStat, minerals continued to be the major foreign currency earner in the first six months of the year, accounting for 91 percent of receipts.

Gold dominated (US$477,8 million), followed by nickel (US$427,6 million), and then tobacco (US$242,9 million).

Other exports were ferrochrome (US$76 million), diamonds (US$61 million), platinum (US$39 million) and other precious metals (US$63 million).

Figures released by ZimStat show that the country's trade deficit for the first half of 2020 narrowed to US$417,63 million from US$622,68 million reported last year. Imports fell 5,72 percent to US$2,28 billion from US$2,42 billion in the first six months of 2019.

South Africa dominated Zimbabwe’s source of imports (US$1,02 billion), ahead of Singapore (US$419 million).

The import bill was dominated by diesel (US$289,9 million), petrol (US$140,7 million), and electricity (US$80,5 million).

 

 

 

 

 

 

 

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