malvernmugadzikwa
Online Reporter
Gold continues to be the country’s major export earner, as it contributed 24 percent – almost a quarter – of the US$654,2 million generated in May at US$157 million.
The total exports in the month were 17,8 percent more than US$555,5 million recorded in April.
Gold deliveries continue to rise on the back of deliberate interventions to support small-scale producers.
Zimbabwe Miners Federation (ZMF) chief executive officer Mr Wellington Takavarasha said gold will remain a critical component in Zimbabwe’s economy.
“As a sector, we will continue to do our best to support the growth of our economy. We intend to surpass the amount of gold output we had in the prior year,” said Mr Takavarasha.
Gold and platinum account for over half of Zimbabwe’s export revenue.
However, in the month under review, nickel mattes were the second-highest export at US$119 million, which translates to 18,3 percent of the total export value, while industrial diamonds came fourth at 10,1 percent.
Key minerals that contributed to the export growth in May also include ferro-chromium, coke, chromium ores and concentrates, and various minerals.
Overall, tobacco was the third-highest export earner in the month, accounting for 12,4 percent, or US$82 million.
South Africa remained Zimbabwe’s top trading partner, accounting for US$243,8 million of the total exports in May, a notable increase from the US$188,5 in April.
It is followed by the United Arab Emirates, which imported goods and services worth US$157,1 million in the month.
Bongani Ndlovu