Zimbabwe’s trade balance slips as pandemic drags on

Source: Zimbabwe’s trade balance slips as pandemic drags on | CGTN Africa

Traders work on the floor of the Zimbabwe Stock Exchange in Harare, Zimbabwe. The COVID-19 pandemic is taking a toll on the country’s trade balance. (Photo by Henner Frankenfeld/Bloomberg via Getty Images)

Zimbabwe recorded a trade deficit of 42.6 million U.S. dollars in September 2020, the Zimbabwe National Statistics Agency (Zimstat) said on Monday.

According to the statistics agency, the country exported goods worth 398.8 million dollars during the month, less than the value of its imports which stood at 441.4 million dollars.

The imports were up by nine percent compared to August, while exports increased by 2.4 percent from 389.3 million the previous month.

“While a positive trade balance was maintained for the four months in a row at the end of 2019, the trade balance has been negative from February to September 2020,” Zimstat said.

Minerals and tobacco are among Zimbabwe’s top major exports, while raw materials and equipment, electricity and fuel rank high among imports.