Zim Now Writer
Statistics released by the Zimbabwe National Statistics Agency for October show Zimbabwe gaining trade surplus in trade with China.
While Zimbabwe exported almost US$320 000 worth of goods accounting for 38.4% of total exports, the country imported goods worth around US$107 000 accounting for 11.9% of total import value in the period.
Trade against Zimbabwe’s biggest import source, South Africa, remains hugely skewered towards the southern neighbour’s favour.
Zimbabwe imported 34.7% of its goods worth US$313 000 from South Africa and exported US$135 600 to the same country which accounted for 16.3% of the total export value.
South Africa is the third largest destination for Zimbabwean exports with the United Arab Emirates placed second and accounting for 22.8% in the period under review.
With China in first place, the three countries accounted for around seventy-seven percent of the total export value
South Africa remains Zimbabwe’s biggest imports source accounting while the Russian Federation accounted for 15.2% moving China to third place.
The three countries were the source of 62% of Zimbabwe’s total import value in October 2023.
While exports leapt up by 22.7% compared to September, the US$831.9 million, value still resulted in a trade deficit against the import bill of US$901.5 million.
But the US$69.6 million trade deficit declined 26.4% decline from the US$94.6 million recorded in September 2023.
Industrial supplies dominated imports while tobacco and minerals dominated the export markets.
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