Zimbabwe’s exports grew 9.5 percent in May to 486.8 million U.S. dollars, driven mainly by the tobacco marketing season, up from 444.7 million dollars the previous month, the Zimbabwe National Statistics Agency (ZIMSTAT) said Monday.
In a statement, ZIMSTAT said the increase in exports was due to a spike in tobacco earnings following the commencement of the tobacco selling season in April.
Despite imports slightly increasing by 2.6 percent to 503.1 million dollars in May from 490.1 million dollars in April, the trade deficit narrowed to 16.2 million dollars compared to 45.5 million dollars in April.
ZIMSTAT said Zimbabwe’s main exports in May were nickel mattes, ores and concentrates, semi-manufactured gold, which contributed 54.7 percent to the total export earnings.
“As the 2020-2021 tobacco selling season commenced, tobacco exports shot up to 21.8 percent in May 2021 from 9.1 percent in April 2021,” ZIMSTAT said. Enditem