aurora
Business Reporter
Zimbabwe recorded a trade deficit of just US$36 million in the month of November 2021, latest figures released by Zimbabwe National Statistics Agency last week show.
This is the second-lowest monthly trade deficit that the country recorded during the 11 months to November 2021.
The previous low was the US$31,5 million trade deficit recorded in August of the same year.
The trade deficit comes as the country imported goods worth US$683,1 million compared to export earnings of US$647,2 million during the period under review.
This means the country had a trade deficit of US$1,36 billion for the 11 months to November 2021 after exporting goods worth US$5,4 billion and importing goods worth $6,3 billion.
On a monthly basis, November 2021 data shows that Zimbabwe’s main exports were tobacco (32.2 percent), semi-manufactured gold (21.5 percent), nickel ores and concentrates (14.0 percent), nickel mattes including platinum group of minerals (PGMs) (12.7 percent), ferrochromium (4.8 percent), platinum unwrought or in powder form (3.0 percent) and cotton (2.5 percent).
According to Zimstat major minerals produced in the country such as nickel concentrates and nickel mattes were exported in a semi-processed form, while nickel ores (including PGMs) are exported in a raw form.
During the month of November 2021, the country exported 31,8 million kg of tobacco valued at US$208,4 million compared to 17,4 million kg valued at US$95,4 million in October 2021.
The country exported semi-manufactured gold valued at US$139,1 million in November 2021, compared to US$197,0 million in October 2021.
Zimbabwe’s major imports were mineral fuels and mineral oil products, which stood at 18.9 percent in November 2021 compared to 20.0 percent in October the same year.
This was followed by plant and machinery which stood at 13.1 percent in November 2021.
Zimstat said major imports in Zimbabwe were aggregated to reach 92.0 percent in November 2021.
South Africa is Zimbabwe’s major trading partner. The value of exports to South Africa increased to 34.9 percent of total exports in November 2021, compared to 31.5 percent in October 2021.
Bongani Ndlovu