Story by Stanley James, Business Editor
ZIMBABWE’S export earnings rose by 42 percent in the first five months of the year, generating more than US$4 billion compared to about US$3 billion during the same period last year, as the country’s trade performance continues to strengthen.
The latest Zimbabwe Trade Outlook Report attributes the growth to strong performances in minerals, tobacco and value-added products, underscoring the increasing contribution of exports to economic growth.
United Nations Development Programme (UNDP) Resident Representative, Dr Ayodele Odusola, said the upward trajectory reflects Government’s deliberate focus on positioning exports as a key driver of the economy.
“This trajectory reflects commitment by the Government of Zimbabwe in ensuring that exports are a critical component of the economy. It is within such guidelines where the nation stands to benefit, considering the notion that most of the exported goods are in the resource industry,” he said.
The horticulture sector is also expanding into new international markets, with the Horticultural Development Council confirming that Zimbabwe has begun exporting blueberries to China.
Chief Executive Officer Mrs Linda Nielsen said the breakthrough is expected to unlock further opportunities for the country’s horticultural industry.
“I can confirm that we have started exporting blueberries to the Asian economic giant. This comes at a time when the nation needs such a market in terms of its competitive edge, and Zimbabwe stands to accrue more benefits as it explores strategic markets with the potential to unlock value for the development of the economy,” she said.
Deputy Minister of Finance, Economic Development and Investment Promotion, Honourable David Kuda Mnangagwa, said the strong export performance is boosting foreign currency inflows, employment and overall economic growth.
“Exports play a pivotal role in overall macroeconomic development. Such growth means more foreign currency inflows, creating jobs and generating a multiplier effect in consolidating economic gains as we project growth of more than five percent by the end of this year,” he said.
Zimbabwe expects export growth to remain on an upward trajectory, supported by the ban on raw mineral exports, China’s zero-tariff policy on Zimbabwean products and improving global commodity prices.
