Zim gets US$1bn from tobacco exports

Zimbabwe’s tobacco exports surged 29.2% to over $1 billion in the first 10 months of 2023, as reported by the Tobacco Industry & Marketing Board.

The country exported 202,678,140 kgs of tobacco, with the Far East being the major market.

As reported, the country has recorded a 26 percent increase in export earnings from tobacco products.

Zimbabwe exports partly or whole stemmed/stripped tobacco or not stemmed/stripped tobacco, tobacco refuse, cigars, cheroots and cigarillos containing tobacco, cigarettes and manufactured tobacco.

The government and tobacco stakeholders came up with the Tobacco Value Chain Transformation plan with the aim of creating a USD5 billion industry by 2023.

Export of tobacco products has been on an upward trend, with earnings of USD795 million in 2020, USD837 million in 2021 and USD998 million last year. By the end of this year, earnings are expected to exceed USD1 billion.

Zwnews