Three countries, Russia, China and South Africa who are also active members of BRICS accounted for around sixty-two percent of Zimbabwe’s total import value of US$901.5 million in October 2023.
This was revealed in the latest report released by the Zimbabwe National Statistics Agency (ZIMSTAT).
The trade statistics revealed that South Africa contributed 34.7%, the Russian Federation 15.2% and China 11.9%.
“External Trade Statistics: October 2023 – The total value of exported goods in October 2023 was US$831.9 million, representing a 22.7% increase from US$678.1 million reported in September 2023.
“Imports for October: 2023 amounted to US$901.5 million, an increase of 16.7% from US$772.2 million recorded in September 2023,” ZIMSTAT said.
It was also established that trade deficit for October 2023 was US$69.6 million, translating to a 26.4% decline from the deficit of US$94.6 million recorded in September 2023.
“September 2023 exports value = USD678.1 million Oct 2023’s exports value = USD831.9 million. Among the country’s major export destinations in October 2023 were China (38.4%,) and the United Arab Emirates (22.8%), South Africa (16.3%).
“The three countries accounted for around seventy-seven percent of the total export value of USD831.9 million.
“September 2023 imports value = USD772.7 million Oct 2023 imports value = USD901.5 million.
“Zimbabwe’s major source countries of imports in October 2023 were South Africa (34.7%), the Russian Federation (15.2%) and China (11.9%).
“The three countries accounted for around sixty-two percent of the total import value of USD901.5 million,” ZIMSTAT noted.
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