Zimbabwe eyes US$1bn in manufactured exports by 2030

Zimbabwe has set an ambitious target of increasing annual manufactured exports to at least US$1 billion by 2030 as Government intensifies efforts to accelerate industrialisation, promote value addition and strengthen foreign currency earnings.

The target forms part of broader economic transformation initiatives under Vision 2030 and the National Development Strategy 2 (NDS2), which seek to reposition the country from a predominantly commodity-exporting economy into a competitive manufacturing and export hub.

According to data from ZimTrade, manufactured exports reached US$584.8 million in 2025, with major export products including iron and steel, tobacco products, clothing and textiles, industrial chemicals and other manufactured goods.

Permanent Secretary in the Ministry of Industry and Commerce, Tadeous Chifamba, said Government was pursuing a deliberate strategy aimed at significantly expanding the contribution of manufacturing to export earnings.

"Our target is bold, but in time it will be reached. We expect to scale up manufactured exports to achieve the benchmark contribution of at least US$1 billion annually by 2030," said Ambassador Chifamba.

The export growth strategy is closely linked to efforts to diversify Zimbabwe's export base and reduce dependence on primary commodity exports, which have historically dominated the country's foreign currency earnings.

Speaking at an export development breakfast meeting in Harare attended by industrialists, exporters and policymakers, Chifamba said Zimbabwe's future competitiveness would depend on its ability to move up the value chain and produce more finished goods for regional and international markets.

"To achieve this, we cannot remain an economy that predominantly exports raw materials. We must fundamentally transition from a commodity-based economy into a high-value, innovation and knowledge-driven economy powered by intense industrial investment," he said.

Government is targeting an increase in the manufacturing sector's contribution to Gross Domestic Product from the current 16 percent to at least 25 percent under Vision 2030 and NDS2.

To support this objective, authorities are preparing to roll out the Zimbabwe National Industrial Development Policy 2 (ZNIDP 2), which prioritises increased industrial output, improved capacity utilisation and stronger export performance.

Chifamba said Government was also addressing challenges that continue to affect industrial competitiveness, including high production costs, ageing machinery, intermittent electricity supplies and logistical inefficiencies.

"Let me assure you, the Government of Zimbabwe will actively execute a second strategy to shift our position from a potential infant market to a highly competitive exporting powerhouse," he said.

As part of the industrialisation agenda, Government is promoting value addition and beneficiation across strategic sectors such as iron and steel, leather processing, sugar production and agro-processing.

Authorities are also seeking to discourage the export of raw and semi-processed products in favour of higher-value finished goods that generate greater export revenues and employment opportunities.

"The Ministry is heading a massive structural shift built upon value addition and beneficiation, moving production systems away from primary raw extraction and up the value-added chain. We are consolidating key sectors such as leather, sugar and iron and steel. Moving forward, we would like to discourage raw and semi-processed goods," said Chifamba.

The strategy is also expected to leverage opportunities created by the African Continental Free Trade Area, which offers Zimbabwean manufacturers access to a significantly larger continental market.

Meanwhile, Sekai Kuvarika, chief executive officer of the Confederation of Zimbabwe Industries, called for stronger collaboration between Government and the private sector to ensure successful implementation of industrialisation policies.

"Our industrialisation strategy is built around three stages: improving competitiveness, upgrading industry and achieving leadership in selected export markets," she said.

"To succeed, we need stronger collaboration between Government and the private sector to turn proposals into practical results."

Kuvarika said public-private partnerships would be essential in translating policy objectives into measurable economic outcomes, citing examples from other regional economies where collaborative approaches have yielded positive results.

Analysts note that increasing manufactured exports would not only boost foreign currency earnings but also create jobs, stimulate industrial investment and reduce Zimbabwe's vulnerability to fluctuations in global commodity prices.

If successfully implemented, the strategy could significantly transform the structure of Zimbabwe's economy by expanding industrial production, enhancing export competitiveness and positioning the country as a more diversified participant in regional and international trade.