By Staff Reporter
Minerals continually dominated Zimbabwe’s exports despite a negative balance of trade attributable to mineral fuels, machinery, equipment imports according to the country’s monthly trade statistics published by ZIMSTAT this week
“During the month of April 2022,the country exported 2 963kilogrammes of semi manufactured gold valued at US$176.9 million, main exports were semi manufactured gold (30.1%), nickel mattes including platinum group of minerals (PGMs)(22.8%), nickel ores and concentrates (14.7%), tobacco(11.5%), industrial diamonds (5.0%), ferrochromium (4.7%), platinumun wrought or in powder form (2.4%) and coke and semi nickel mattes valued at US$133.9 million, compared to 1,009.5 at US$110.2 million in March 2022.” The trade statistics report said.
However, “Zimbabwe’s major imports remained mineral fuels and mineral oil products which stood at 22.1% in April2022, compared to 17.1% in March 2022. This was followed by machinery and equipment at13.1% in April2022. Other imports in April2022included vehicles (8.3%), electrical machinery(4.9%), plastics (4.5%), cereals mostly rice (3.6%),animal and vegetable oils and fats(2.8%), pharmaceuticals (2.7%), paper and paper products (1.9%), and fertilizers (1.6%).” The report also emphasised.
According to the report, “ Africa remained Zimbabwe’s major trading partner. In April 2022, exports to South Africa were 40.6% compared to 42.9% in March 2022.Exports to United Arab Emirates constituted 34.1% in April 2022 compared to 31.3% in March, 2022. Value of exports to China increased to 9.9% in nickel mattes valued at US$133.9 million, compared to 1,009.5 tonnes valued at US$110.2 million in March 2022.
The month of April however saw close to 30% in reduction of industrial diamonds exports despite the continued domination of minerals.
“Besides the major minerals usually exported, Zimbabwe also exported 103kilogrammes of industrial diamonds valued at US$29.2millionin April 2022,compared to 148 kilogrammes valued at US$45.2 million in March, 2021.” The report also highlighted.
The country also realised a reduced negative balance of payment of over 200% following a trade deficit of US$49, 914, 005 in April compared to US$156,217,525 the previous month despite a perennial negative trade balance