Export receipts for May up 49 percent: RBZ

By ZBC Reporter
ZIMBABWE’s total export earnings for May recorded a 49 percent recovery compared to March and April following the re-opening of borders for the movement of goods.
Zimbabwe had experienced a slowdown in exports as a result of COVID- 19 induced lockdowns, mainly in March and April this year.
Lockdowns saw most economies closing their borders leading to a reduction in the movement of goods on a regional and global scale.
However, as a response to fresh policies to revive economies, despite the threats from the Covid-19 pandemic, most nations have reopened their borders for cargo movements since May.
According to the Reserve Bank of Zimbabwe latest Economic Review Report, the easing of trade-restrictive measures has, therefore, lead to a recovery in terms of export receipts.
The central bank report states that the easing of trade restrictions by Zimbabwe’s biggest trading partner South Africa has had a positive impact on the overall trade volumes.
Zimbabwe’s export earnings in May this year were mainly dominated by commodities such as gold, tobacco, nickel and platinum.

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