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Zim imports goods worth $2bn from SA

Jan 08 2016 19:09
Malcom Sharara
Harare - Zimbabwe imported goods worth more than US$2bn from South Africa as trade between the two countries reached $3.86bn in the 11 months to November 2015, latest figures show.
 
According to trade data released by the Zimbabwe Statistical Office (Zimstats), Zimbabwe imported goods worth $2 115 671 569 during the period.
 
With the continued depreciation of the rand, South African products remain a cheaper option for many Zimbabwean households and traders whose disposable incomes continue to dwindle.
 
Analysts said with the strengthening US$ being used in Zimbabwe, price disparities between the two countries for some of the products are so high that they leave Zimbabweans with no option other than to source from South Africa.
 
Meanwhile, South Africa remained Zimbabwe’s largest trading partner with trade between the countries amounting to $3.86bn in the period under review.
 
According to Zimstats, Zimbabwe exported goods worth $1.7bn to its southern neighbour and imported goods valued at $2.1bn.
 
From China, Zimbabwe imported goods worth $413.8m. Overall, Zimbabwe imported goods worth $5.5bn and exported goods worth $2.5bn, resulting in a trade deficit of $3bn.
 
In the coming year the deficit is likely to widen as the country is poised to import food to avert hunger caused by the impending drought.
 
At the same time, not much is expected from the export front amid low commodity prices, Zimbabwe’s major export.

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zimbabwe  |  africa economy  |  imports  |  trade  |  exports

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