Gold leads surge in Zimbabwe export earnings

ZIMBABWE'S gold export earnings improved by 44 percent between November and December last year to clock US$248,1 million after the country exported 4 417 kilogrammes of the yellow metal, official figures show.

Last November, the country exported 2 455 kg of gold valued at US$139,1 million.

In an update on trade figures, the Zimbabwe National Statistics Agency (Zimstat) said the country's main exports in December 2021 were, semi-manufactured gold (42 percent), nickel mattes including platinum group of minerals (PGMs) (18,3 percent), and nickel ores and concentrates (13,4 percent).

The contribution by tobacco during the period under review was 9,8 percent, ferro-chromium 3,3 percent, platinum unwrought or in powder form (3 percent) with skins and hides at 1,7 percent.

"It was noted that 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," said Zimstat.

"During the month of December 2021, the country exported 4 417 kg of semi-manufactured gold valued at US$248,1 million compared to 2 455 kg valued at US$139,1 million in November 2021."

The country exported nickel mattes valued at US$107,9 million last December compared to US$82,5 million in November 2021.

During the period under review, Zimstat said Zimbabwe's major imports were mineral fuels and mineral oil products, which stood at 21,5 percent compared to 18,9 percent in November the same year.

This was followed by machinery and equipment at 10,9 percent in December 2021.

"Other major imports in December 2021 included vehicles (7,6 percent), pharmaceuticals (6,7 percent), fertilizer (6,1 percent), plastics (4,3 percent), animal and vegetable fats and oils (3,9 percent) while electrical machinery and equipment were 3,7 percent and cereals (3,1 percent.

"Notably, major imports in Zimbabwe were aggregated to reach 92,2 percent in December 2021. Cereal imports including maize increased slightly to 3,1 percent in December 2021 from 2,6 percent in November 2021.

"Rice, which makes the bulk of cereal imports constituted 2,7 percent in December 2021 compared to 1,7 percent in November, 2021," said the statistics agency.

South Africa is Zimbabwe's major trading partner followed by the United Arab Emirates.

However, in December exports to United Arab Emirates constituted 42,2 percent compared to 22,4 percent in November.

Exports to South Africa were 38,1 percent in December compared to 33,4 percent in November.

"Value of exports to China decreased to 3,6 percent in December 2021 from 23,9 percent in November 2021.

"Exports to Mozambique constituted 6,5 percent in December 2021 compared to 8,2 percent in November 2021," said the agency.

"The proportion of exports to Belgium was 2,9 percent in December compared to 2,5 percent in November 2021.

"The proportion of imports from South Africa declined from 43,7 percent in November 2021 to 39,9 percent in December 2021."

Furthermore, in November 2021 the proportion of the value of imports from Singapore was 17,3 percent in December 2021 compared to 14 percent in November 2021.

Imports from China were 12,3 percent in December 2021 from 11,3 percent in November 2021. Other imports in December 2021 came from Mozambique (4,5 percent), Mauritius (3,4 percent), Hong Kong (3,3 percent), India (3 percent), Zambia (2,5 percent), United Kingdom (1,1 percent) and United States (0,4 percent).