Fin24

Zim exports to SA exceed imports

2012-10-15 14:26

Harare - Zimbabwe is now exporting more to South Africa than it is importing, as shown by figures from Zimbabwe Statistical Office (ZimStats).

According to ZimStats, exports to South Africa for the eight months to August 31 2012 were worth US$2.165bn, while imports amounted to $1.865bn.

This means Zimbabwe has a trade surplus with SA of about $300m.

The figures show that August had the highest value of exports amounting to $353.4m, while April had the lowest amounting to $202.1m.

Zimbabwe made its highest import bill in July when it imported goods worth $263.5m. The lowest import bill amounting to $210.3m was in February.

Zimbabwe’s overall import bill amounts to $4.58bn, while its total export tally is $2.97bn. This leaves the country with an overall trade deficit of $1.61bn.

Zimbabwe’s overall exports were skewed towards minerals with industrial diamonds at $468.37m, nickel Matte amounting to $307.25m and nickel ores and concentrates of $210.77m.

Semi-manufactured gold stood at $409.04m, monetary gold at $54.098m, platinum unwrought  at $101.196m and ferro-chrome at $97.533.

- Fin24

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Comments
  • annelise.venter.77 - 2012-10-15 14:47

    A huge lie. Anybody that has been to Beitbridge will tell you this is massive lie. Full trucks going to Zim, totally empty coming back. I would not trust any official statistics coming out of Zimbobwe.

      vambozha.mutemi.9 - 2012-10-15 15:03

      ha ha ha the doubting Thomases of this world, you have to see it to believe it neh...come to beitbridge and stay for 8 months with your ipad and calculate yourself

      simon.sinimoni - 2012-10-15 15:07

      ok ann then we are lying,now what do YOUR own trade figures say and from whom did you get them?

      Active - 2012-10-15 15:09

      Is this exports to SA or Exports via SA ports to China?

      annelise.venter.77 - 2012-10-15 15:10

      @ vambozha. Was there in August for three weeks, did not need an ipad (finished school before '94) so I can count for myself..... empty truck versus full one. I am not a politician, so no need for me to tell lies to remain in my job. Simple maths and logic works for most of us. PS. Why is there a maize and grain shortfall in Zim if they have more than enough to export?

      BigChiefPlumbPudding - 2012-10-15 15:17

      They have very little money to import goods, so obviously the export would top the import and noted it's mainly mining product which Zimbabwe still has. Nothing else though? No manufactured products? No new innovative products? Any new technologies perhaps? In short - bluff yourself if you will, but try not to bluff intelligent people.

      simon.sinimoni - 2012-10-15 15:27

      @ann just give us your own 'true' figures.Please factor in the fact that Beitbridge is used by other countries besides Zimbabwe.I think you can get similar figures from the website of the responsible S.African government department

      wwrer.ww - 2012-10-15 15:31

      The mines are running a surplus - it says "Zimbabwe’s overall exports were skewed towards minerals with industrial diamonds at $468.37m" In other words a lot of the money and income is concentrated in the hands of the mines and not consumers. It is not as if that country has a surplus of consumer goods. The people are starving and the UN is providing food aid. The mine owners and workers and businesses related to mining are running a trade surplus of $300m.

      vambozha.mutemi.9 - 2012-10-15 16:10

      ha ha ha you really hate Zimbas with a passion i see, lets hope it will bring food on your table or change the pathetic situation you are in

      marcusvandermerwe - 2012-10-15 16:26

      Yes it could be true. I see lotsa Zimbabweans here, so I would say they export a few million of them each year. And we actually pay Zimbabwe R5bn (fact!) each year (money they send back home).

  • lerato.kay.3 - 2012-10-15 14:52

    Seems things are moving in the right direction in Zim, yet we are forever reminded that Zim is a basket case. Guess what goes down must go up and Zim is heading up!

      marcusvandermerwe - 2012-10-15 16:28

      Actually its SA going down to a level where we can compete with Zim.

  • erich.goosen - 2012-10-15 14:54

    I am not one bit surprised - we are selling our fuel and electricity at discounted prices (read a loss) to Zim. We are still paying for the 'hospitality' afforded to the struggle soldiers.

      fidelis.mhlabati - 2012-10-16 06:43

      With all the strikes and violence south africa is heading for a boom and bust in a few years time you will be exporting cheap labour like zim

  • lerato.kay.3 - 2012-10-15 15:03

    Seems things are moving in the right direction in Zim, yet we are forever reminded that Zim is a basket case. Guess what goes down must go up and Zim is heading up! Just to get a global perspective Spain reported a trade deficit equivalent to 1.693 billion EUR in July of 2012, which means its trade deficit fell by 20.9% since July 2011 to July 2012. The United Kingdom reported a trade deficit equivalent to 4.2 Billion GBP in August of 2012. Portugal reported a trade deficit equivalent to 1.142 billion EUR in August of 2012. France reported a trade deficit equivalent to 4.271 billion EUR in July of 2012. Zimbabwe’s $1.61bn is a positive sign considering the fact that it’s a third world country which has been through hell, in as much as people hate this, there is light at the end of the Zim tunnel!

      alonso.opinion - 2012-10-15 15:19

      I don't know if your stats are ligit or not; what I wonder is if all these large countries (+ US deficit) have trade deficits; who sits with the surplusses? Can't just be China? Would like to know.

      vambozha.mutemi.9 - 2012-10-15 15:20

      Thanks Lerato for enlightnening some of our ignorant readers, economic change in Zim of course will not happen overnight but these stats clearly shows the country is showing progress. The problem is when people hear about Zim or read about it, the only thing that comes in their minds is Mugabe and ZANU pf. They forget it has a well established business community that can overcome challenges despite some harsh trade laws put in place by the present government.

      wwrer.ww - 2012-10-15 15:39

      Their economy has been destroyed, it is only the mines that are keeping them going. 87% unemployment. Those are the statistics. So the mines recorded at $300m surplus. Well how many people own a mine? How many are mine workers? Only the mine workers and businesses related to mining are doing well. In fact those mine worker salaries are so low, they aren't even able to push the trade deficit up - that is make a dent in the money the mines are making for the owners.

      lerato.kay.3 - 2012-10-15 16:10

      @alonso.opinion - Germany reported a trade surplus equivalent to 16.3 Billion EUR in August of 2012. Angola reported a trade surplus equivalent to 34.2 Billion USD in 2011, there are no 2012 figures, currently that’s why Angola has been stubborn that government own 51% shares in ANY foreign investment, and nobody is complaining because there is money to be made there. China reported a trade surplus equivalent to 26.7 Billion USD in August of 2012. Taiwan reported a trade surplus equivalent to 4.075 billion USD in September of 2012. South Korea reported a trade surplus equivalent to 3.1 Billion USD in September of 2012. Russia reported a trade surplus equivalent to 12.6 Billion USD in August of 2012. Just to quote a few I know, it doesn’t necessarily mean that if the west is in the negative then everyone has to be worse off! The big United States reported a trade deficit equivalent to 44.2 Billion USD in August of 2012.

      wwrer.ww - 2012-10-15 16:23

      http://en.wikipedia.org/wiki/Economy_of_Angola 90%+ of Angola's exports is oil. So Shell is running a surplus. BP is running a surplus. Angola's government is running a surplus. The people of Angola is dirt poor. As for your assertion that they are doing well, with a demand of 51% ownership of businesses, just check that little stat in wikipedia at the very top of that page: ease of doing business: #172 of all countries in the world.

      wwrer.ww - 2012-10-15 16:29

      And here's a list of who owns the oil in Angola. http://www.sourcewatch.org/index.php?title=Angola's_oil_industry#Oil_Companies_in_Angola Agip Angola Production B.V. (Italy) BP Angola BP Petroleum Development Ltd CNR International (Canadian Natural Resources Limited changed the name of its subsidiary, Ranger Oil (U.K.) Limited to CNR International (U.K.) Limited ("CNR International") in 2001.) ChevronTexaco (US) In 2004, pumped 60% of Angola's oil, "more than half of which is exported to the United States--the company expects to double its oil production there by 2008." Esso Exploration Angola Limited (US) ExxonMobil (US) Marathon International Petroleum (Marathon Group) (US) Norsk Hydro ASA (Norway) Occidental Petroleum Odebrecht Oil & Gas Services Ltd (UK) Petrobras (Petroleo Brasileiro SA) (Brazil) Petroplus Africa Limited (Dutch Petroplus and Canadian Diamond Works Ltd) Royal Dutch/Shell (Shell Group) Statoil (Den Norske Stats Oijeseiskap a.s.) (Norway) TotalFinaElf (France) Total is Unocal's French partner.

      lerato.kay.3 - 2012-10-15 16:54

      @wwrer.ww, you use stats to support an argument but what you have just did is pluck stats to contradict your own argument. If I may ask if it is so difficult to do business in Angola what are the companies you just quoted doing there. Secondly your claim that Shell is making all the $ while the locals are poor so are you suggesting wholesum nationalisation? I'm trying to get your argument here as your statements contradict

      konstabel.koekemoer - 2012-10-15 16:58

      It is only the exports to SA that exceed imports. If you read the whole article you see that Zim still has a large trade defecit ... "Zimbabwe’s overall import bill amounts to $4.58bn, while its total export tally is $2.97bn. This leaves the country with an overall trade deficit of $1.61bn."

      marcusvandermerwe - 2012-10-15 17:34

      @lerato.kay.3 - Zimbabwe's GDP is US$9.9Bn. Spain's GDP is US$1.49 trillion! Zimbabwe's trade deficit of US$1.6Bn is pretty large in relation to its GDP. Maybe if Lonmin opens some businesses in Zim their GDP might double.

      wwrer.ww - 2012-10-15 17:42

      The argument lerato is that you need economic freedom for a country to prosper in the long run. You need free market capitalism, where people are in control of their own financial future, where they start up and own their own businesses. The oil runs out, it reaches peak oil and then oil production declines. The same thing happens to gold, iron, coal, etc. The entrepreneur must drive business development, not the government.

      lerato.kay.3 - 2012-10-15 17:55

      Don't forget to mention that Spain's Real Debt To GDP Right Now is standing at 146.6% with a 25% unemployment rate!

      marcusvandermerwe - 2012-10-15 18:31

      Wow lerato, no debt and no jobs. Don't forget that Zimbabwe's unemployment rate is actually somewhere between 80-90%. Stop being so optimistic, Zimbabwe is atually being kept alive by SA. 58% of Zimbabwe's imports comes from here. Lucklily for them our government feels sorry for them.

      wwrer.ww - 2012-10-15 18:36

      The argument lerato is that you need economic freedom to unleash businesses and entrepreneurs. Mining is not enough to build a long term successful economy with income. A mining surplus could be a weakness if the non-mining related businesses do not develop. You need economic freedom to develop the 95% of the economy - the non-mining related part of the economy. The Angolan, Zimbabwean GDP growth numbers and trade numbers are in mining and metals - that are being depleted. The USA created a free market economy and they are struggling. What Zimbabwe and the other countries such as Angola is suggesting is the creation of NON-free market businesses, all clustered around natural resource extraction. Can't you see how silly and stupid that is? Those countries will end up even worse than countries that produced entrepreneurs once the natural resources run out. You need freedom in an economy, entrepreneurs to create new businesses and new products and not a dependence of business upon a commodity or one business sector.

      wwrer.ww - 2012-10-15 18:58

      The point is it is a mining surplus. It has nothing to do with 95% of the economic activity. Nobody wants to start up a business there because it has one of the most repressive socialist racist governments in the world. 70%+ of economic growth comes from small business start-ups and medium sized businesses. Therefore, a country needs a friendly environment for businesses to grow and prosper.

  • patsy.smith.125 - 2012-10-15 15:08

    What exactly is Zim exporting to S.A.? People?

      vambozha.mutemi.9 - 2012-10-15 15:15

      No..read the whole article

  • stefan.vanderspuy - 2012-10-15 15:23

    The Zim exports to SA are Industrial diamonds and other minerals and are probably sent here by rail or ship. Hence the empty trucks from Zim. For sure, no food!!

  • retlaw.yelmoc - 2012-10-15 15:32

    And how many people did they export to us during this period?

  • sarecen.smith - 2012-10-15 15:33

    should read, exports more refugees to SA

  • SarelJBotha - 2012-10-15 15:35

    Are we paying for the illegal and other immigrants from these as well?

  • mmoledis - 2012-10-15 15:45

    Let us not fight one another, if Zimbabwe is doing good so be it, I can be glad if Zim can recover economically.

  • Eterni80 - 2012-10-15 15:53

    they must be talking about exports of illegal immigrants..

  • tnmunyai - 2012-10-15 16:09

    Zim is flying high. You like it or not. Your bad wishes towards zim are not going to work. They are now economical free. Those who think zim can not function well without them, they are now feel a shame. Forward with Mugabe forward. Aluta continue!

      konstabel.koekemoer - 2012-10-15 17:20

      I think any improvement in Zimbabwe is welcome but if you read the article carefully you will see that in total Zim still has a huge trade deficit of 1.61 Billion dollars. You will also see that almost all the goods Zim exports are shipped via SA and this is the reason that on paper SA has a trade deficit.

      marcusvandermerwe - 2012-10-15 18:39

      tnmunyai what are you smoking? If 87% unemployment means economic freedom then I sure hope we don't become "economically free".

  • ljmostert - 2012-10-15 16:26

    Zim don't import because they can't pay what they import!! Who will export from SA to Zim if they are not paid!

  • isaac.tapfumaneyi.5 - 2012-10-15 16:29

    ha ha ha haters who dont want to see zim prosper are getting angry.a fact is a fact you might like it or not but it will remain a fact.go zim go

  • mlungisi.fynn - 2012-10-15 16:34

    At present Zimbabwe is highly dependent on SA.Hopeful that they are on a rise as this would ease the strain on our economy.

      DuToitCoetzee - 2012-10-16 12:34

      Now that is a good comment. A lot of commentators do not understand the economy and the Zim figures as well as conditions. I also wish them good luck and hope they improve in all aspects. It will be good to see them flourish again and it will be a relieve on our economy.

  • isaac.tapfumaneyi.5 - 2012-10-15 16:57

    we refuse to be lyk botswana namibia lesotho and swaziland that import 90pcnt of their products from sa.what if sa collapse today.inward growth is the way to go

  • sam.ntshangase - 2012-10-15 19:44

    Go Zim Go, prove them wrong all detractors until SA follows your route

  • simon.mwando - 2012-10-15 20:22

    Get real haters! This story is true and practical.SA mainly export groceries to zimbabwe whilst Zim export diamonds,gold,platinum n chrome so cut the crap!

      craig.m.fulton - 2012-10-16 08:15

      I would hardly boast about the inability for a country to produce enough food to feed its people.

  • arthur.salvado - 2012-10-16 07:50

    Just don't know what to believe . Anything coming out of this government is a lot of bull. In case it's true, we now know what's happening in this country when a Mickey mouse country like Zim can put do us. Sorry state of affairs

  • smfogwill - 2012-10-16 09:18

    Why did Zim asked for the huge loan from South Africa? You don't need loans with big exports!

  • peter.cornelius.39 - 2012-10-16 12:23

    Never argue with a fool as they will beat you with experience every time. If Zim is so great, why is SA not streaming into the place? Why does every Zimbabwean I speak to, have nothing good to say about their own home? Why are they importing loads of maize from SA? Zim exports loads of diamonds and raw materials ect, through SA to the rest of the world who "won't" buy directly from Zim. Fact is, the top cronies in the government are still enriching themselves at the cost of their own people.

      anthony.chadokwenda - 2012-10-23 14:22

      Just like the minority in S.A owns 80% of land n economy, just like most white people in S.A think thy have some divine right to supriorty and to be feared.. And as for the zimbabweans in ur country who say bad things about zim thy are just tryin to get you of their backs so thy tell u what u want to hear,which in sorry case is tht zim is fare from recovery. Reality check 1 mate S.A is light year from perfact ..

  • kmakwembere1 - 2012-10-16 12:53

    The funny part about it is Zimbabwe went under ESAP, we had the same strikes like those currently taking place in SA. In Africa history always repeats itself hence i wouldnt be so quick to Judge Zimbabwe as in a couple of years when SA is in the dooldrums Zimbabwe will be far much better. Food for thought

  • len.murozvi - 2012-10-25 13:05

    excellent figures, but where is the money going to? Zanu personalises all income which is due to the state. The money is not being used to repair roads, dams, schools, etc. They are still begging NGO to fix infrastructure and yet the wealth and natural resources are being squandered

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