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Sikhulekelani Moyo, [email protected]
THE value of Zimbabwe’s exports increased by 4,1 percent to US$1,01 billion in February 2026, up from US$969,5 million the previous month, according to the latest data from the Zimbabwe National Statistics Agency (ZimStat).
The surge in exports puts the country in a strong position to emulate the record performance of 2025.
This growth is strategically vital for Zimbabwe, which utilises gold and foreign currency to anchor the ZiG currency introduced in April 2024.
Zimbabwe’s export performance in 2025 showed robust growth, surpassing US$9 billion in total annual earnings. This was largely driven by a booming mining sector — particularly gold and nickel — and a significant 213 percent surge in diamonds. The country achieved its first US$1 billion export month in October 2025, with total exports for the first three quarters of that year increasing by over 26 percent to US$10,3 billion.
Record export earnings in 2025 significantly boosted Zimbabwe’s foreign currency reserves, which rose to approximately US$1,2 billion by year-end. This marks a massive increase from the US$276 million held in April 2024, representing a nearly fourfold rise.
ZimStat reported that the top three products exported in February were semi-manufactured gold (45,7 percent), tobacco (27,5 percent), and other mineral substances (9 percent). Conversely, top imports during the review period included mineral fuels, oils, machinery, electrical equipment, and cereals, valued at US$963 million.
“The country’s major export destinations in February 2026 were the United Arab Emirates (US$468,4 million), China (US$346,1 million), and South Africa (US$98,4 million),” said ZimStat.
“These three countries accounted for about 90 percent of the total export value.”
Major exports to the Southern African Development Community (Sadc) included nickel ores and concentrates (28,3 percent), coke and semi-coke of coal (11,7 percent), unworked industrial diamonds (10,1 percent), and iron and steel products (9,8 percent). Exports to the Common Market for Eastern and Southern Africa (Comesa) comprised iron/steel products, coal products, and tobacco.
ZimStat noted that imports for the month totalled US$963,1 million, a 12 percent increase from January 2026. The major source countries for imports were South Africa, China, Bahrain, and the Bahamas.
Meanwhile, Zimbabwe’s goods trade balance for February 2026 recorded a surplus of US$46,4 million. While positive, this represented a 57,7 percent decrease from the January 2026 surplus of US$109,9 million.
Commenting on the performance, Buy Zimbabwe chairman Mr Munyaradzi Hwengwere noted the importance of the recent trade surpluses. While he acknowledged the month-on-month decrease, he attributed it to seasonal trends.
“If you look at last year, Zimbabwe was in a deficit for much of the first half.
This year, we have been in a surplus position for the first two months,” said Mr Hwengwere. “If the pattern from last year repeats — and provided Middle East tensions do not negatively impact mineral earnings — we may see one of the largest trade surpluses in 20 years.”
However, Mr Hwengwere warned that Zimbabwe remains vulnerable due to its heavy concentration on commodity exports. He highlighted a need to address import dependencies on fertilisers, energy, and petroleum through local beneficiation.
“If mining and agriculture can utilise local raw materials, our trade surplus will be more sustainable,” he added.
Zimbabwe’s export growth strategy aims to increase exports by at least 10 percent annually, targeting US$14 billion by 2030. The horticulture sector is expected to be a major contributor, with projected annual growth of 30 percent.
Online Reporter