UAE emerges as Zim’s major export destination

Oliver Kazunga

Senior Business Writer

THE United Arab Emirates emerged as Zimbabwe’s major export destination accounting for 42 percent of the US$698,1 million total value of goods the country exported last month, official data show.

According to the Zimbabwe National Statistics Agency (Zimstat), the neighbouring South Africa accounted for 24,7 percent of Zimbabwe’s total value of exports in October while China, one of Zimbabwe’s biggest trading partner was on third spot accounting for 10,5 percent.

“October 2024 exports amounted to US$698,1 million, an increase of 21,4 percent (US$123,1 million) from the September 2024 value of US$575 million.

“Among the country’s major export destinations in October 2024 were United Arab Emirates (42 percent) South Africa (24,7 percent) and China (10,5 percent).

“The three countries accounted for around 77 percent of the total export value of US$698,1 million,” said the agency.

Among the top 10 products exported in October 2024 were semi-manufactured gold, tobacco, partly or wholly stemmed/stripped, and nickel mattes, accounting for 42,4 percent, 17,5 percent, and 12,2 percent of the total value of US$698,1 million, respectively.

Ferro-chromium accounted for 4,8 percent — nickel ores and concentrates 3,5 percent — coke and semi-coke of coal 2,2 percent — other mineral substances 1,9 percent — chromium ores and concentrates 1,8 percent — other ores and concentrates 1,4 percent — industrial diamonds unworked 1,4 percent — and other exports 10,8 percent.

In the month under review, Zimbabwe’s trade deficit slid by 34,3 percent to US$137,7 million.

Gold, which is the country’s largest single export whose production, according to official figures from Fidelity Gold Refinery (FGR) improved to 4,2 tonnes last month from 3,4 tonnes in September 2024.

Furthermore, statistics from FGR, the country’s exclusive buyer of the yellow metal indicate that in the first 10 months of this year, deliveries of the precious mineral were 28,2 tonnes compared to 26,6 tonnes in the same period in 2023.

On the other hand, according to the Tobacco Industry and Marketing Board, exports of the golden leaf have continued to increase since the beginning of the year reaching US$1,1 billion as of November 15.

“Zimbabwe’s goods trade deficit for October 2024 was US$137,7 million, a 34,3 percent decrease from September 2024 deficit of US$209,5 million.”

During the month under review, Zimstat indicated that imports totalled US$835,8 million, which was 6,6 percent (US$51,4 million) above the September 2024 imports of US$784,4 million.

Top 10 import products were mineral fuels, mineral oils and products, machinery and mechanical appliances, cereals, and vehicles.

The above-named products constituted 21 percent — 10,4 percent — 9,7 percent — and 7,2 percent of the total import value of US$865,8 million respectively.

Major import source countries during the period under review were South Africa which accounted for 39,6 percent of the total value of imports followed by China (13,8 percent), Bahamas (8,3 percent), and Singapore (5,7 percent).

“The four countries accounted for around 68 percent of the total import value of US$835,8 million,” said the agency.