Zim Posts US$228 Million Trade Deficit in March De...

Zim Posts US$228 Million Trade Deficit in March Despite Strong Mineral Exports

Audrey Galawu- Assistant Editor

Zimbabwe’s export earnings rose to US$581.9 million in March 2025, up from US$512.6 million in February, but the country still recorded a trade deficit of US$228 million due to a higher import bill.

The country’s export profile continues to be dominated by minerals and tobacco. Semi-manufactured gold remained the top export product, contributing 42.4% of the total export value. Nickel mattes followed at 16.5%, while tobacco accounted for 15.7%.

Other significant exports included ferro-chromium (4.8%), coke and semi-coke (2.7%), and various ores and industrial diamonds.

The top three export destinations were the United Arab Emirates, South Africa, and China—collectively absorbing around 86% of Zimbabwe’s total exports. The UAE alone accounted for 40.7% of total exports, with South Africa and China following at 24.4% and 20.8%, respectively.

On the import side, total imports rose to USD809.9 million in March from USD730.4 million in February. The biggest import categories included mineral fuels (20.1%), cereals (11.7%), machinery and mechanical appliances (10.8%), and vehicles (8.2%). These figures underscore Zimbabwe’s continued reliance on foreign suppliers for critical energy and production inputs, as well as consumer goods.

South Africa remained Zimbabwe’s largest import source, supplying 38.2% of total imports, followed by China (15.2%), the Bahamas (11.5%), and Mozambique (4.9%).