Zimbabwe's value-added exports rise to US$244,5 million

Zimbabwe's export sector is experiencing a significant upswing, driven by a marked increase in value-added products and local manufacturing, signaling a promising path toward sustainable economic growth. This encouraging trend was highlighted by Minister of Industry and Commerce Mangaliso Ndlovu during the 2024 ZimTrade annual exporters' conference held in Bulawayo yesterday.

"The government acknowledges that exports are the key driver of economic growth through foreign currency generation, increased productivity, and employment creation," Ndlovu stated, emphasizing the critical role of the export sector in revitalizing the economy.

He announced a 3.4% rise in the export of value-added products, climbing from US$236.5 million in the first seven months of 2023 to US$244.5 million in the same period this year. Additionally, Ndlovu revealed that over 80% of products available on local shelves are now manufactured within Zimbabwe, a testament to the government's deliberate efforts to enhance local production and strengthen value chains.

"This increase in production and manufacturing presents massive opportunities for the growth of the manufacturing sector," he said, underscoring the importance of promoting locally made goods in international markets. "It is through such forums that we propel the top brands from Zimbabwe into the export markets."

Ndlovu outlined the government's strategic focus on boosting industrial competitiveness, stimulating productivity, and expanding the manufacturing sector to facilitate export growth. Specific strategies will target various sectors, including base metals and engineering, cotton to clothing, and oilseeds.

ZimTrade Chief Executive Officer Allan Majuru echoed Ndlovu's sentiments, stating that Zimbabwean products are gaining traction in international markets. He highlighted ongoing efforts to penetrate markets in the United Arab Emirates, Saudi Arabia, Malaysia, and Thailand, including negotiations for local blueberry producers to supply 180 stores across these countries.

"Zimbabwean blueberries are highly sought after in Asia, with a taste described as sweet, floral, woody, and musky, coupled with a soft acidity that sets them apart," Majuru noted.

He further reported a remarkable 21% increase in macadamia exports during the first half of 2024, generating over US$4 million. "China remains our biggest destination for macadamia," he said, while also highlighting efforts to export intricately woven baskets from Matabeleland North to French homes and promoting Zimbabwean sculptures globally.

Majuru announced successful protocols signed with China for citrus and avocado exports, as well as market exploration in Ghana, Senegal, and Nigeria, positioning Zimbabwe as a significant player in intra-African trade.

The country's export performance has seen an upward trajectory, with a reported 8% increase from US$7.02 billion in 2022 to US$7.6 billion in 2023, surpassing the national target of US$7.2 billion.

"The impact of trade on national development goes beyond the numbers and should positively affect women, youths, and rural communities," Majuru emphasized.

The conference, themed "Qala. Tanga. Start," aims to inspire new beginnings in Zimbabwe's export landscape, fostering collaboration and innovation within the sector. With a renewed focus on local manufacturing and export opportunities, Zimbabwe appears poised for a brighter economic future.