World Economy

Zimbabwe Trade Deficit Narrows

Zimbabwe Trade Deficit NarrowsZimbabwe Trade Deficit Narrows

Zimbabwe narrowed its trade deficit to $337.5 million in July from $362 million in June, latest data from the country’s statistics agency shows, Insiderzim reported. Zimbabwe National Statistics Agency data show that exports in July were up 17% to $226 million compared to the previous month. Some of the exports include beef, tobacco and other agricultural produce as well as minerals and scrap metal. Imports in July were up marginally from $555 million the previous month to $563 million. Cumulatively to July, Zimbabwe’s imports stand at $3.6 billion while exports amount to $1.4 billion indicating the country’s continued reliance on imported goods as local industry remains depressed.