In the seven months up to July, Zimbabwe's import bill dropped 20.34 percent, due to a number of factors, including troubles in the external payment systems, import restrictions placed on selected products by Government and weak industry demand for raw materials. Weakness in the South African Rand, the country's biggest trading partner, has also contributed, with the Rand trading around 12.45 on the dollar last year against last month's 13.9.
Data from Zimstat shows that imports fell to $2.89 billion from $3.62 billion in the same period last year. Month on month, July imports fell 8.09 percent to $394,83 million from June's bill of $429,58 million as foreign payments continue to face delays.
Though Zimbabwe continued to import goods which are readily available here such as sweet potatoes, carrots, natural honey, shelled macadamias and lemons; the rate is much lower than last year.
Grape imports dropped to $1.5 million from $1.9 million last year. Apple imports were at $2.58 million.
Total exports in the period were at $1.3 billion, a 10.2 percent drop from $1.45 billion last year. As a result, the trade deficit narrowed 27 percent at $1.58 million against $2.16 million last year.
ZimTrade is currently pushing for export reforms while the organisation is at the forefront of calling for the addressing of trade facilitation issues in order for the country to realise an export economic growth.
