Zimbabwe’s exports continue on strong growth path

Trade Focus-Allan Majuru

Zimbabwe’s trade performance continues to show impressive growth, reflecting the efficacy of President Mnangagwa’s engagement and re-engagement drive anchored in economic diplomacy.

Latest figures from the Zimbabwe National Statistics Agency (ZimStat) show a shift in the country’s exports and imports, with the trade deficit narrowing by a remarkable 40 percent to US$1,04 billion between January and August this year, compared to US$1,72 billion recorded during the same period in 2024.

Between January and August 2025, exports reached US$5,62 billion, representing a 23 percent increase from US$4,56 billion in 2024.

Imports grew modestly by 5,8 percent to US$6,65 billion, highlighting the widening gap between export and import growth that is now working in favour of narrowing the deficit.

These positive developments are being registered on the back of deliberate efforts by President Mnangagwa’s Government to strengthen economic diplomacy, which has seen Zimbabwean products and services gaining traction and visibility across global markets as new buyers take notice of their quality, consistency and competitiveness.

The trade outlook shows that the success is broad-based, with strong performances recorded in several productive sectors and export markets that have been opened through sustained diplomatic engagement.

The encouraging export performance for the first eight months of the year provides a strong foundation for the remainder of the year.

Current projections indicate that merchandise exports could reach US$9,1 billion by December, exceeding the initial target of US$8,1 billion.

Movers

The biggest winners were sectors that have responded to the call for value addition and diversification.

Value-added exports across the board increased by 18 percent to US$345,4 million, revealing the success of the country’s beneficiation strategy.

The building and construction sector emerged as the top performer, registering an extraordinary 274 percent growth in exports to US$65,2 million during the review period, from US$17,4 million last year.

The major exported items included semi-finished iron and non-alloy steel worth US$31 million and various types of forged steel bars and rods valued at US$12 million.

This growth mirrors rising regional demand for construction materials as neighbouring economies expand investment in infrastructure.

Another area of growth was manufactured tobacco, which rose by 24 percent to US$79,5 million, supported by renewed processing capacity and access to new markets.

The agricultural inputs and implements sector registered a 13 percent increase to US$23,5 million, while hides and skins grew by 48 percent to US$18 million, driven by improved processing at local tanneries.

The packaging and stationery industry also maintained momentum, rising by 45 percent to US$13,8 million, and arts and crafts recorded a strong 28 percent increase to US$8,9 million.

This performance reflects an expansion in the manufacturing and creative sectors, both of which benefit from continuous capacity-building and export-readiness programmes offered by the national trade development and promotion agency, ZimTrade. The mining sector remains the anchor of Zimbabwe’s export performance.

Minerals and alloys grew by 30 percent to US$4,61 billion. The strong performance was largely driven by gold, whose value more than doubled from US$1,34 billion to US$2,75 billion due to firm international prices and improved output.

Although the mining sector continues to dominate, there is urgent need to increase beneficiation and value addition.

Exporting raw minerals limits value retention in the economy and exposes Zimbabwe to international price fluctuations.

The focus must, therefore, remain on expanding smelting, cutting and polishing capacity so that the country exports finished or semi-processed goods that command higher value.

Overall, the robust performance of value-added industries and the growth of non-traditional exports show that Zimbabwe’s exporters are increasingly diversifying and moving up the value chain, in line with Vision 2030 targets.

Losers

While overall performance has been encouraging, a few sectors experienced subdued activity during the period under review.

Sectors that recorded slight declines included chemicals (-31,9 percent) and pharmaceuticals (-17 percent).

Despite these contractions, the overall trade picture remains positive, as the gains in value-added manufacturing and construction far outweigh the setbacks in a few primary commodity categories.

Positive trend in

emerging markets

The geographic composition of Zimbabwe’s exports tells a compelling story of success in market diversification.

The United Arab Emirates (UAE) has become Zimbabwe’s leading export destination, with shipments valued at US$2,76 billion, a massive 81 percent increase from US$1,52 billion in 2024.

The UAE now accounts for 49,2 percent of total exports, up from 33 percent last year.

This growth reflects the strong economic ties forged through ongoing diplomatic engagements and trade missions.

The success of mineral exports to the UAE is opening avenues for processed foods, horticulture and manufactured goods as commercial relations deepen.

Exports to Mozambique grew by 4,5 percent to US$193 million, underlining the benefits of proximity and strengthened regional logistics.

Belgium registered a 9,4 percent increase to US$73 million, driven by minerals and semi-processed products, while Indonesia rose by 21 percent to US$60 million.

The Netherlands showed a 23 percent expansion to US$54 million, reflecting renewed interest in Zimbabwean horticulture and manufactured exports.

Although exports to South Africa and China softened slightly by 2,1 percent and 12,7 percent, respectively, the overall export-market spread remains positive.

The positive export growth in most destinations demonstrates that Zimbabwe’s exporters are successfully leveraging the opportunities created by Government-led interventions.

One of the most important initiatives supporting this trend is the upcoming Buyers Seminar, to be hosted by ZimTrade on October 14, 2025 in Harare and October 15, 2025 in Bulawayo.

The event will bring together leading buyers from Zambia, South Africa, the Democratic Republic of Congo (DRC), Egypt, Angola, Ethiopia, Rwanda, Mozambique and France to meet and engage directly with Zimbabwean exporters.

The programme will feature business-to-business sessions and company visits, giving local firms the opportunity to showcase their production capacities, negotiate long-term deals and gather market intelligence.

The Buyers Seminar complements the broader thrust of the Second Republic’s foreign policy, which places economic cooperation at the heart of diplomatic engagement.

Through such platforms, Zimbabwe continues to rebuild trust, strengthen supply chains and embed its exporters within global value networks.

Allan Majuru is the chief executive officer of ZimTrade.