Zim exports to hit US$8 bn in 2025, Ncube

Finance and Investment Promotion minister Mthuli Ncube says the in the outlook, exports are projected to sustain a positive growth trend to reach US$7.9 billion in 2025 underpinned by growth in PGMs, lithium, and agriculture exports.

He made these remarks during post budget seminar currently underway, in Bulawayo.

Key highlights:

“In the outlook exchange rate stability is envisaged, supported by a cocktail of measures instituted by Government and the Central Bank, including tight fiscal and monetary policies,” Minister Mthuli Ncube

“Inflation is expected to stabilise in the outlook on account of tight fiscal and monetary policies,” – Minister M Ncube.

“In the outlook, exports are projected to sustain a positive growth trend to reach US$7.9 billion in 2025 underpinned by growth in PGMs, lithium, and agriculture exports,” Minister Mthuli Ncube.

“The country’s current account balance is expected to widen from a surplus of US$133.9 million in 2023 to a surplus of US$150.5 million in 2024 before further improving to US$US$255.9 million in 2025,” – Mthuli Ncube.

“Merchandise imports are expected to reach approximately US$9.3 billion by the end of 2025, reflecting a modest increase of 2.5% from the 2024 projection of US$9.1 billion,” – Minister Mthuli Ncube.

“Major drivers of growth in 2025 are agriculture 12.8 percent electricity (10.6%), ICT (9.9%) and mining (5.6%), among other sectors.”

“In terms of GDP contribution for 2025, the major contributing sectors are wholesale and retail, mining, agriculture and manufacturing which are expected to contribute 19.5%, 13.3%, 10.7% and 10.6%, respectively,” – Minister M Ncube.