Zimbabwe Records 30% Export Increase.

Zimbabwe’s exports increased by 30% from US$346 million in February 2018 to US$449 million in August 2018 whilst imports increased by 0.3% from US$575 million in February 2018 to US$576 million in August 2018.

According to ZimTrade trade performance report for February to August 2018, the country’s trade deficit decreased by 44%.

“Consequently, the country’s trade deficit at US$127 million in August 2018 decreased by 44% when compared to the US$229 million recorded in February 2018.

“Month on Month exports increased by 32% from US$340 million in July to US$449 million in August whilst imports increased by 3% from US$560 million in July to US$577 million in August. The Trade deficit decreased by 42% from US$220 million in July 2018 to US$127 million in August,” reads the report.

They added that the total import bill increased by 26% from US$3.2 billion in 2017 to US$4 billion in 2018.

“During the period February to August 2018, the Country’s total exports amounted to US$2.4 billion, indicating a 24% increase from US$1.9 billion recorded in the same period in 2017. The total import bill increased by 26% from US$3.2 billion in 2017 to US$4 billion in 2018.

“The Trade deficit consequently increased by 28% from US$1.2 billion between February to August 2017 to US$2.4 billion during the same period this year.

“Zimbabwe’s total trade for the period February to August 2018 increased by 25% to US$6.4 billion from the US$5.1 billion recorded in the same comparative period in 2017,” they said.