Business

South Africa remains Zimbabwe’s largest trading partner

South Africa remains Zimbabwe’s largest trading partner. Despite the Covid-19 pandemic’s adverse impact on markets around the world, the neighbouring country has remained a major export destination of products from Zimbabwe.

South Africa remains Zimbabwe’s largest trading partner after the neighbouring nation imported 39 percent of the US$4,39 billion total exports from Zimbabwe last year.

Last year, the country also improved the value of its exports from US$4,28 billion in 2019, reflecting business resilience amidst the disruptive deadly pandemic.

The national trade development and promotion organisation, ZimTrade says this indicates that local firms have the potential to perform far much better if the environment was enabling.

“With regards to markets, Zimbabwe’s major export destinations in 2020 were South Africa (39 percent), United Arab Emirates (20 percent), Mozambique (9 percent), Uganda (3 percent), Belgium (2 percent), Zambia (1 percent), Botswana (1 percent) and Kenya (1 percent),” said ZimTrade in a statement.

The agency said exports to Zimbabwe’s other neighbouring country, Mozambique continued to follow an upward trend recording a 15 per cent increase from US$354 million in 2019 to US$408 million last year.

Other markets that have seen a notable increase in exports include the United Arab Emirates (UAE), Uganda, Belgium, Kenya, Tanzania, Angola, and Ukraine.

Source – The Chronicle

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