Zim Soars Beyond Export Targets in 2023, But Can I...

Zim Soars Beyond Export Targets in 2023, But Can It Curb the Soaring Import Bill?

Philemon Jambaya

Zimbabwe’s export scene is popping! Exceeding all expectations, the country raked in a whopping US$7.6 billion in 2023, surpassing its initial target of US$7.2 billion by a cool 15%. This isn’t just a number; it’s a testament to the resilience and resourcefulness of Zimbabwean businesses and entrepreneurs.

The export boom is’t a one-hit wonder. It’s a harmonious orchestra of diverse sectors playing their tunes to perfection. Tobacco, gold, platinum, lithium – these traditional stars continue to shine bright. But there’s a new wave of melody too, with flowers, tourism, horticulture, services, and agro-processing adding their unique rhythms to the mix.

While the export fiesta is definitely cause for celebration, there’s a lurking concern – the ever-growing import bill. Like a party guest who’s a bit too enthusiastic about the punch bowl, imports are threatening to drain the foreign currency reserves. Fuel, machinery, and raw materials are the main culprits, guzzling up precious resources.