info.afrindex.com
China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
Image from Trade Zimbabwe
According to World Bank statistics, the percentage of global exports to GDP has been increasing, from 12% in 1960 to 29% in 2017.
It is imperative for Zimbabwe to actively catch on with the global trend and pursue a massive export development for the exports of value-added products, which attract more revenue and grow the country’s export figures.
Zimbabwe export growth has been gradual over the recent years with some sectors growing more significantly.
Globally, in 2018, Zimbabwe exported goods worth US$4,1 billion (excluding export of services), which was an increase from 2017 export figure of US$3,5 billion.
Mineral exports and unmanufactured tobacco constituted 75 percent of the country’s total exports during 2018, while manufactured exports contributed about 7 percent to total exports.
Additionally, exports of raw crocodile hides and skins increased by 70 percent from US$20 million in 2017 to US$33,9 million in 2018.
According to ZimStat and Ministry of Finance and Economic Development figures, during the first quarter of 2019, Zimbabwe’s exports stood at US$1,02 billion.
This was a 15 percentage increase from 2018 first quarter figures of US$886.1million. Exports during this period were mainly dominated by minerals, with gold, nickel mattes, ores and concentrates contributing 51 percent as well as tobacco which contributed 23 percent.
The processed food and beverages sector have been showing signs of great improvement and potential on the export market.The sector reported a positive performance contributing 5 percent to total exports in February 2019 compared to a contribution of 1 percent in the same month of 2018.In value terms the sector also realized an increase, having exported US$16,1million, compared to US$3,8 million in the same month in 2018.
The increase was mainly a result of growth in exports of cane sugar in solid form, confectionery sugar, milk, cream and juices from fruits and vegetables.
