Zimbabwe’s gold output in May was 2,994.7kg, compared to 1,668kg in May last year, data by Fidelity Printers has shown.
So far this year, Zimbabwe has produced 13,171kg of gold, while same period last year, the country had produced 7,068kg of gold.
Gold is one of Zimbabwe’s key foreign currency earners, in 2020, Zimbabwe exported $2.14 billion in gold, making it the 35th largest exporter of Gold in the world.
More than 90% of gold deposits in Zimbabwe are associated with greenstone belts which are some of the richest in the world.
Zimbabwe’s top exports are gold ($2.14B), raw tobacco ($329M), nickel ore ($252M), diamonds ($245M), and ferroalloys ($232M).
The country exports mostly to United Arab Emirates ($1.92B), South Africa ($574M), Mozambique ($369M), Uganda ($331M), and China ($193M).
However, as a result of illicit financial flows, Zimbabwe has been losing a lot of money through gold smuggling into neighbouring South Africa, India and Dubai.