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Harare - South Africa remained Zimbabwe’s biggest trading partner for the period to October 31 2013, official figures have shown.
In the ten month period, South Africa remained Zimbabwe’s largest trading partner accounting for $3.17b of the imports and $2.04b of exports mainly driven by the country's mineral outputs.
Zimbabwe imported goods worth $6.55b against exports of $2.78b, according to figures released by the Zimbabwean Statistical Office.
This resulted in the trade deficit for the period widening to $3.76b from $3.02b in August and $2.37b at half year.
The deficit has already surpassed the $3b mark forecast by economists at the beginning of the year, in a trend that is continuing to hold back gross domestic product growth.
Last month Zimbabwe's biggest retailer OK Zimbabwe told analysts that the supermarket chain imports 60% of its store merchandise mainly from South Africa.
Pick ‘n Pay, which has established outlets in Zimbabwe, also mirrors what the supermarket chain retails in South Africa.
Zimbabwe's import cover is currently for a few days against a SADC requirement of at least three months, a report by the Financial Express stated.
- Fin24
In the ten month period, South Africa remained Zimbabwe’s largest trading partner accounting for $3.17b of the imports and $2.04b of exports mainly driven by the country's mineral outputs.
Zimbabwe imported goods worth $6.55b against exports of $2.78b, according to figures released by the Zimbabwean Statistical Office.
This resulted in the trade deficit for the period widening to $3.76b from $3.02b in August and $2.37b at half year.
The deficit has already surpassed the $3b mark forecast by economists at the beginning of the year, in a trend that is continuing to hold back gross domestic product growth.
Last month Zimbabwe's biggest retailer OK Zimbabwe told analysts that the supermarket chain imports 60% of its store merchandise mainly from South Africa.
Pick ‘n Pay, which has established outlets in Zimbabwe, also mirrors what the supermarket chain retails in South Africa.
Zimbabwe's import cover is currently for a few days against a SADC requirement of at least three months, a report by the Financial Express stated.
- Fin24
