Zimbabwe's exports surge by 13.5%

Zimbabwe's export earnings surged by 13.5 percent in March 2025 to reach US$581.9 million, up from US$512.6 million in February, underscoring the country's growing productivity, mineral output and the effectiveness of recent trade and sectoral reforms.

Data released by the Zimbabwe National Statistics Agency (ZimStat) shows the increase amounts to US$69.3 million, reinforcing hopes of economic resilience despite enduring local and global challenges.

"The March 2025 exports amounted to US$581.9 million, an increase of 13.5 percent from the previous month," ZimStat said in its latest trade bulletin.

The growth was driven primarily by strong performances in the mining and agriculture sectors. Semi-manufactured gold remained the country's top export, accounting for 42.4 percent of total shipments. It was followed by nickel mattes (16.5 percent) and stemmed or stripped tobacco (15.7 percent), with the three categories making up nearly 75 percent of total export value.

Economist and trade consultant Mr Shaun Munemo welcomed the data, describing it as a "timely confidence boost" for policymakers and a clear indicator of improved productivity.

"These export numbers tell a compelling story of productivity returning to our key sectors," said Munemo. "They show that with consistent policies and targeted incentives, Zimbabwe can deepen its footprint in global trade."

The United Arab Emirates (UAE) emerged as Zimbabwe's largest export destination, taking up 40.7 percent of the total, likely spurred by the ongoing gold trade. South Africa followed with 24.4 percent and China with 20.8 percent, collectively accounting for 86 percent of Zimbabwe's exports in March.

Trade analysts say this reflects the success of Zimbabwe's deliberate engagement with stable, high-value markets in Asia and the region, where bilateral trade ties have strengthened in recent years.

On the import side, the country recorded inbound goods worth US$809.9 million in March, a 10.9 percent increase from US$730.4 million in February. This pushed the trade deficit to US$228 million, up from February's US$217.9 million.

Key imports included mineral fuels and oils (20.1 percent), cereals (11.7 percent), machinery (10.8 percent), and vehicles (8.2 percent). Analysts say these figures reflect retooling efforts, agricultural support and broader economic investments.

South Africa remained Zimbabwe's largest import source, providing 38.2 percent of the country's imports, followed by China (15.2 percent), the Bahamas (11.5 percent), and Mozambique (4.9 percent). Together, these countries accounted for about 70 percent of total imports, pointing to a well-diversified sourcing strategy.

While Zimbabwe continues to grapple with a trade deficit, analysts view the growth in export earnings as a step toward more balanced trade.

"This is not just about numbers. It's a narrative of recovery," said Munemo. "Zimbabwe is proving it can rebuild its trade capacity with the right policy mix and strategic alliances."

As the country eyes a US$7 billion export target by year-end under the National Export Strategy, March's figures offer optimism that Zimbabwe remains on track.

ZimStat emphasised the importance of maintaining this trajectory, stating, "When exports exceed imports, a country registers a trade surplus. The current drive toward export growth is key to narrowing the trade gap and bolstering economic stability."