By Alois Vinga
RAW materials continue to dominate Zimbabwe’s import list, in a development which falls in line with current financial support trends being extended by monetary authorities to revamp local productivity, Zimbabwe National Statistics Agency (ZIMSTAT) has confirmed.
The latest external trade report covering the month of May reveals a shift from consumptive-based importation towards productivity.
“Zimbabwe’s major imports remained mineral fuels and mineral oil products, which stood at 19,2% in May 2022.This was followed by machinery and equipment at 16,1 % in May 2022. Other imports in May 2022 included vehicles 7%, electrical machinery 5, 5%, plastics 5, 4%, fertilizers 4, 6%,” the report said.
The imports are in sync with data released by the Reserve Bank of Zimbabwe (RBZ) stating that almost 70% of allotments were directed towards raw materials and machinery out of the total cumulative foreign exchange auction allotments totaling US$3 124 507 809 since the market’s inception.
Industrial diamonds valued at US$5, 9 million in May 2022, compared to 103 kilograms which valued at US$29.2 million in April 2022.
The report also shows that imports from traditional markets have recorded slight decreases on the back of increasing productivity in the country’s manufacturing sector.
To that effect, the proportion of imports from South Africa was 42,8% in May 2022, compared to 448% in April 2022. Furthermore, Singapore decreased to 13,8% in May 2022, compared to 16,4% in April 2022.
Imports from China decreased to 12,1% in May 2022 from 13,6% in April 2022.
Other import sources were Mozambique 3,7%, Mauritius 3,1%, India 3,1%, United Arab Emirates 1,6%, Zambia 26%, Belgium 1,5%, United Kingdom 1,1% and United States 0,5%.
“The valued of exports registered significant increases from US$282,9 million in January 2021 to US$591,2 million as at December 31, 2021.The export figures for the first quarter of 2022 have been way above the average US$ 200 million mark recorded last year to above US$500 million mark,” the report added.
