Business / Economy
Zimbabwe's 4 months trade deficit worsens to $1.6 billion
25 Jun 2013 at 11:32hrs | Views
Zimbabwe's trade deficit for the 4 months to April widened to US$1.6 billion after it imported goods worth US$2.62 billion against exports of $1.02 billion.
According to statistics made available by ZimStat, the country imported mainly diesel, fertiliser, petroleum oils, motor cars, mobile phone handsets and accessories as well as foodstuffs including milk products.
The country's exporting base is mainly in the extractive sector, which includes industrial diamonds, nickel mattes and semi-manufactured gold as well as flue-cured tobacco.
In the period, the country imported diesel worth $266.02 million, ammonium nitrate of $22.14 million. Exports by the clothing sector have dropped significantly, especially to South Africa (at 5% from 18%) which means the trade balance is in favour of South Africa at 1:6.
Zimbabwe mainly exported minerals which included $177 million worth of gold, $45 million of platinum ore and $101 million of nickel concentrate and $100.43 million of tobacco during the period.
According to statistics made available by ZimStat, the country imported mainly diesel, fertiliser, petroleum oils, motor cars, mobile phone handsets and accessories as well as foodstuffs including milk products.
In the period, the country imported diesel worth $266.02 million, ammonium nitrate of $22.14 million. Exports by the clothing sector have dropped significantly, especially to South Africa (at 5% from 18%) which means the trade balance is in favour of South Africa at 1:6.
Zimbabwe mainly exported minerals which included $177 million worth of gold, $45 million of platinum ore and $101 million of nickel concentrate and $100.43 million of tobacco during the period.
Source - Byo24Business
