Russia has overtaken China to become Zimbabwe’s second major source of imports, behind South Africa, according to statistics released by the Zimbabwe National Statistics Agency (ZIMSTAT).
Three countries, that is, South Africa (34.7%), the Russian Federation (15.2%) and China (11.9%), accounted for around sixty-two percent of Zimbabwe’s total import value of US$901.5 million in October 2023.
Below are the trade statistics released by ZIMSTAT this Monday, 27 November:
External Trade Statistics: October 2023 – The total value of exported goods in October 2023 was US$831.9 million, representing a 22.7% increase from US$678.1 million reported in September 2023.
Imports for October: 2023 amounted to US$901.5 million, an increase of 16.7% from US$772.2 million recorded in September 2023.
The trade deficit for October 2023 was US$69.6 million, translating to a 26.4% decline from the deficit of US$94.6 million recorded in September 2023.
Sept 2023 exports value = USD678.1 million Oct 2023’s exports value = USD831.9 million. Among the country’s major export destinations in October 2023 were China (38.4%,) and the United Arab Emirates (22.8%), South Africa (16.3%).
The three countries accounted for around seventy-seven percent of the total export value of USD831.9 million.
Sept 2023 imports value = USD772.7 million Oct 2023 imports value = USD901.5 million.
Zimbabwe’s major source countries of imports in October 2023 were South Africa (34.7%), the Russian Federation (15.2%) and China (11.9%).
The three countries accounted for around sixty-two percent of the total import value of USD901.5 million.
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