Online Reporter
Oliver Kazunga
Senior Reporter
ZIMBABWE’S export structure remained heavily skewed towards minerals in May this year, with gold, nickel mattes and tobacco continuing to dominate the country’s foreign currency earnings, official figures show.
Latest trade figures from the Zimbabwe National Statistics Agency (ZimStat) indicate that the country’s exports rose by 11,6 percent to US$884 million, up from US$792,3 million in April, driven largely by strong international demand for key commodities.
However, the data shows that the export basket remains narrow, with a small number of products accounting for the bulk of export receipts.
Semi-manufactured gold remained the country’s single largest export, contributing 52,5 percent of total export earnings. Nickel mattes followed with 14,3 percent, while tobacco, partly or wholly stemmed or stripped, accounted for 7,1 percent.
Together, these three products accounted for more than 70 percent of total exports, underscoring the continued dominance of mining and agriculture in Zimbabwe’s external trade performance.
ZimStat figures show that the strong performance of gold continues to anchor export earnings, reflecting sustained demand and favourable global prices for the precious metal.
Nickel mattes also maintained a significant share, reinforcing the importance of base minerals in supporting foreign currency inflows, while tobacco remained a key agricultural export.
Despite the growth in exports, import demand also increased during the same period, rising by 12 percent to US$1,08 billion, compared to US$962,2 million in April.
This resulted in a widening trade deficit of US$193,7 million, up from US$169,9 million in the previous month.
ZimStat said the deficit reflects the gap between the value of goods imported and those exported over the period under review.
Mineral fuels, machinery and mechanical appliances, vehicles and electrical machinery and equipment remained among the top imported products, highlighting continued demand for industrial inputs and energy-related goods.
