Xifres de comerç exterior de Zimbàbue

Foreign Trade in Figures

The Zimbabwean Government is generally open to foreign trade, which accounts for 30.6% of its GDP, according to the latest World Bank estimates. In the context of economic and regional integration, the country has strengthened its ties with the SADC (Southern African Development Community) member countries and levies lower duties on imports from such countries. However, the strict control on trade exercised by the Government and the relatively high customs duties, make the country difficult to access. There are other barriers that continue to impact trade such as the lack of long-term economic and political reforms, state control over companies, insecurity and a lack of skilled labour forces. The country mainly exports nickel (37.9%), gold (26.7%), tobacco (12.9%), ferro-alloys (5.1%), and platinum (3.4%), while it imports petroleum oils (15.6%), mineral or chemical nitrogenous fertilisers (3.3%), soya-bean oil (2.9%), human and animal blood prepared for therapeutic, prophylactic or diagnostic uses (2.9%), and motor vehicles (2.6%).

Zimbabwe's main trading partners are South Africa, the United Arab Emirates, Singapore, Mozambique, China, Mauritius, and Belgium. The country was once a major agricultural exporter, but today it imports foodstuffs and manufactured goods in large quantities. This is mainly due to land expropriation and state-owned enterprises distorting the economy, as well as government's intervention, inadequate supervision, and political instability that undermine the financial system. This economic change has significantly damaged the country's trade balance, which is now in deficit. This trend should continue in the coming years, despite the recovery of gemstone exports and the decline in the global oil prices. The government has reduced certain tariffs to facilitate imports.

In 2021, exports of goods amounted to USD 6 billion, while imports reached USD 7.1 billion, resulting in a trade deficit of USD 1.1 billion. Over that same period, services exports amounted to USD 240 million, while imports reached USD 945 million. Including services, Zimbabwe's trade balance closed 2020 at a deficit of USD 1.8 billion.