Zim-China trade hits US$1bn in six months

Trade between Zimbabwe and China rose by 57% to US$1 billion in the first six months of this year compared to the same period in 2021.

This has been attributed to deepening diplomatic relations between Harare and Beijing progressively translate into growing trade.

According to the Observatory for Economic Complexity (OEC), which is viewed as the world’s leading data visualisation tool for international trade data, the main products China exports to Zimbabwe are iron structures, pesticides and machinery.

OEC says Chinese exports to Zimbabwe have increased at an annualised rate of 12,2 percent from US$30,9 million in 1995 to US$547 million in 2020.

The main products that Zimbabwe exported to China were Ferroalloys ($79.1M), Nickel Ore ($32.2M), and Processed Tobacco ($23.9M).

During the last 25 years the exports of Zimbabwe to China have increased at an annualized rate of 4.33%, from $67M in 1995 to $193M in 2020.

The two countries enjoy other bilateral relations dating back to Zimbabwe’s liberation war.

Zwnews