See More

Zim's trade deficit with SA totals $353m

Jan 15 2013 09:33 *Malcom Sharara
Zimbabwe flag


Related Articles

Zim BEE: Foreign banks will not be spared

Play nicely, AfDB urges SA and Zim

Zim banks face huge financial losses

Zim inflation dips slightly

World Bank: Zim has huge diamond hoard

Zim land grabs could hurt tourism

Harare - Zimbabwe’s trade deficit with South Africa amounted to US$353m for the year ended December 31 2012, the Zimbabwe Statistical Office (Zimstats) has said.
According to figures from Zimstats seen by Fin24, imports from South Africa amounted to $3.207bn while exports to South Africa totalled $2.674bn. Zimbabwe’s exports to South Africa are however dominated by mineral exports.
Overall, Zimbabwe’s trade deficit in the year to December stood at $3.6bn after imports of $7.48bn and exports of $3.88bn.
Zimbabwe imported mostly fertilisers, diesel, petroleum oils, motor cars, phone sets and wheat. The country’s exporting base is mainly in the extractive sector which includes industrial diamonds, nickel mattes and semi-manufactured gold as well as flue-cured tobacco.
The poor performance of exports is linked to unreliable supplies and inability to compete on price. In 1992, more than a quarter of Zimbabwean firms were exporters. However, according to the World Bank fewer than 10% of the firms are now exporting their outputs.
In general, lack of short-term finance for exports is limiting export-led growth for Zimbabwean firms with the potential to compete globally.

- Fin24

*Malcom Sharara is Fin24's correspondent in Zimbabwe.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

zimbabwe  |  exports  |  economy


Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Add your comment
Comment 0 characters remaining

Company Snapshot

We're talking about:


Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The upcoming electricity and fuel price hikes will:

Previous results · Suggest a vote