Xifres de comerç exterior de Zimbàbue

Foreign Trade in Figures

The Zimbabwean Government is generally open to foreign trade, which accounts for 65% 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 labor forces. The country mainly exports gold (30.3%), nickel ores and concentrates (16.7%), nickel mattes (15.6%), tobacco (14.1%), and ferro-alloys (5.5%); whereas imports are led by petroleum oils (3.4%), motor vehicles for the transport of goods (3.0%), mineral or chemical nitrogenous fertilizers (2.8%), and electrical energy (2.4% - data Comtrade 2022).

Zimbabwe's main export partners are South Africa (41.8% of total exports), United Arab Emirates (32.3%), China (8.9%), Belgium (3.3%), and Mozambique (2.9%), with imports coming chiefly from South Africa (40.5%), China (13.9%), Singapore (13.6%), Mozambique (3.8%), and Mauritius (3.7% - data Comtrade 2022). 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 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.

According to data by WTO, in 2022, exports of goods amounted to USD 6.5 billion (+9.1% year-on-year), while imports reached USD 8.6 billion (+14.5%). Over that same period, services exports amounted to USD 447 million, while imports reached USD 1.3 billion. The country’s trade balance for goods and services was negative by 9% of GDP (from 5.3% one year earlier – data World Bank). In 2023, Zimbabwe's total value of exported goods increased by almost 10% to USD 7.2 billion. More than 80% of export earnings originated from the mineral sector (ZimStat).