Zimbabwe’s trade deficit widens

The country’s trade deficit has widened, latest figures by the Zimbabwe Statistics Agency ZimStat have revealed.

Zimbabwe exported goods worth US$1.4 billion in the first quarter (Q1) of 2023, a figure which is down by 23.8% from previous quarter.

This was attributed to weaker commodity prices and reduced gold output.

Imports were US$2 billion (from US$2.3bn). This left Zimbabwe with a trade deficit of US$621.8m, 27% wider than 4 quarter of 2022.

Zimbabwe’s major exports include gold, tobacco, metal alloys, cotton, and sugar.

The country’s principal imports are fuels and petroleum products, electricity, machinery and transport equipment, food, and miscellaneous manufactured goods.

Zwnews