Tobacco, gold dominate Zimbabwe's exports

Zimbabwe's export economy remains firmly anchored in its traditional staples of tobacco and gold, while imports are still dominated by fuel, vehicles, and machinery, according to the latest Trade and Price Statistics Report for July 2025 released by the Zimbabwe National Statistics Agency (Zimstat).

The report reveals that Zimbabwe earned US$723.5 million in export revenue in June 2025, with semi-manufactured gold once again topping the list, accounting for 53.6% of total export value. Nickel mattes followed with 12.7%, while stripped tobacco contributed 5.7%. Combined, these three products made up over 70% of the country's export income, underlining Zimbabwe's continued reliance on raw mineral and agricultural exports.

On the import side, Zimbabwe brought in goods worth US$882.0 million in June. Mineral fuels and oils constituted the largest portion at 20.5%, reflecting the country's ongoing vulnerability to global energy markets. Machinery and mechanical appliances made up 13.0% of imports, cereals 6.8%, and motor vehicles 6.6%.

"The data shows a persistent dependence on a narrow range of exports and a significant reliance on imported industrial and consumer goods," Zimstat noted in the report.

The United Arab Emirates (UAE) remained Zimbabwe's top export destination, taking in 54.8% of the country's goods, primarily gold. South Africa received 23.5% of Zimbabwe's exports, while China accounted for 8.3%. These three markets collectively absorbed nearly 87% of all Zimbabwean exports in June.

Meanwhile, South Africa was the largest source of Zimbabwe's imports, supplying 34.5% of the goods brought into the country, followed by China (15.0%), Bahrain (9.8%), and the Bahamas (5.3%). Together, these countries contributed roughly 65% of Zimbabwe's total imports for the month.

Regionally, trade with SADC countries was dominated by nickel mattes (42.0%), coke and semi-coke of coal (8.8%), semi-manufactured gold (7.9%), and chromium ores (5.8%). Within the COMESA bloc, the leading exports were iron and steel products (18.6%), tobacco cigarettes (18.3%), and coke (10.5%).

Zimbabwe's exports to the European Union in June consisted mainly of tobacco (30.9%), ferro-chromium (25.9%), and unworked industrial diamonds (24.3%), reinforcing the trend of the country's dependency on primary commodities.

The report underscores the structural challenges facing Zimbabwe's trade balance. While exports continue to be propped up by raw material sales, the economy remains highly susceptible to import shocks, particularly in the energy and industrial sectors.

Economists warn that without diversifying both export products and markets, and boosting local production of high-value goods, Zimbabwe's trade structure will remain precarious.