Trade deficit between Zimbabwe and South Africa widens by 15%
Data gathered from the Zimbabwe Statistical Agency (Zimstat) shows that Zimbabwe exported goods worth $1.1 billion to South Africa between January and July against imports of $1.3 billion, giving a trade deficit of $131 million.
Last year in the same period, trade deficit between two countries stood at $114 million, with imports standing at $1.1 billion against exports of $1.03 billion.
In June last year, Zimbabwe banned the import of hundreds of items from its southern neighbour to rein in its ballooning trade deficit, which on average stood at $3 billion to shore up local manufacturers.
The list included baked beans, potato crisps, peanut butter, jams, canned fruits and vegetables and others. In total, Zimbabwe’s trade deficit narrowed by 21% to $1,2 billion in the period under review, after imports amounted to $3,1 billion while exports trailed at $1,9 billion.
Source: newsday.co.zw
