New Zimbabwe.com

Zim China trade up 30pc, EU rebounds

TRADE between China and Zimbabwe grew 30 percent in the nine months to September 30, with the latter enjoying a surplus of $279 million, the Chinese Ambassador, Lin Lin said on Thursday.
Zimbabwe’s exports to China were up 44 percent and valued at $597 million, while Chinese imports were valued at $318 million, showing a growth of 9.5 percent, Lin told a China Africa Forum in Victoria Falls.
China has emerged as Zimbabwe’s major source of imports in the last decade for machinery and manufactured goods while the Asian giant is the biggest buyer of local tobacco and minerals.
Meanwhile, trade between Zimbabwe and the European Union has nearly doubled since 2008, latest statistics released by the Trade and Law Centre, which monitors trade between Africa countries and the world.
Trade between the two was valued at $888.12 million in 2012, from $479 million in 2009.
This is lower than the record of $1,2 billion achieved in 1999 but shows a steady increase of trade between Zimbabwe and the 27-member bloc of developed nations after the economy stabilised under the unity government which existed between February 2009 and 10 September this year.
In 2010, the value of trade was $642.8 million before reaching $931.5 million in 2011.
Zimbabwe exports to the EU commodities that include copper, sugar, flowers, cotton, fermented tea and leather and imports vehicles, chemicals and other goods from the European nations.Advertisement