Zimbabwe-China trade hits $3 billion

Trade between Zimbabwe and China has surged in the first nine months of 2024, reaching a record $3 billion, marking a 25.6% year-on-year increase. Zimbabwe's exports to China stood at $2.1 billion, while imports totaled $951 million, giving Zimbabwe a trade surplus of $1 billion. The growth in trade has been attributed largely to tobacco exports, which have become a significant economic driver.

Tobacco exports to China rose by 38.3% to $790 million, making up 40.6% of Zimbabwe's total exports to the Asian giant. This strong performance highlights the importance of tobacco as a core export commodity, bolstering Zimbabwe's trade position and expanding its economic ties with China.

The trade relationship between the two countries has continued to strengthen, with China importing Zimbabwean goods such as minerals and agricultural products. This trend has been met with optimism from both governments, who see it as a foundation for deeper economic collaboration and investment across various sectors.

China has consistently ranked as one of Zimbabwe's top trading partners, with both nations pursuing mutual interests in mining, agriculture, and infrastructure projects. As trade volumes grow, experts anticipate that Zimbabwe's export base could diversify further, leveraging China's large consumer market to spur economic growth.