Zimbabwe records $44m trade surplus over SA

Zimbabwe records $44m trade surplus over SA
Published: 26 March 2018
Zimbabwe recorded a US$44 million trade surplus over its largest trading partner South Africa, in the month of February.

Information obtained from the Zimbabwe National Statistics Agency (ZIMSTAT) on Monday indicates the country exported goods and services to the neighbouring nation at a value of US$261, 2 million against imports worth US$216, 8 million.

The trend resulted in the country registering a US$44 million surplus over the major trading partner, South Africa.

During the month of February exports were mainly dominated by the agro-based commodities with minerals also accounting for a huge proportion of the earnings.

Major products that were imported from South Africa included agro-processed commodities, machinery, accessories, food stuffs, clothing and textiles equipment, among others.

The sudden recovery in industry that has seen retail shelves being flooded with locally produced goods has also had an effect in slowing down the volumes of imports from South Africa, according to market watchers.

However, bilateral trade and economic cooperation between Zimbabwe and South Africa are also expected to rise on the back of imminent approval of business deals between the two nations.

The ZIMSTAT trade data also shows that apart from South Africa, Zimbabwe's major trading partners include China, United Arab Emirates, Zambia, Mozambique, Britain, USA, Japan, among others.
- zbc
Tags: Trade,


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