Zim trade deficit at over $700 million for first 3 months of 2017

Posted by Maveriq

According to data provided by the Zimbabwe National Statistics Agency (Zimstat), the country’s trade deficit for the first three months of the year stands at over $700 million. The country’s exports stood at $723,8 million which was dwarfed by imports of $1,3 billion.

Imports have also been increasing every single month with figures of $384,78 million for January $424,4 million for February and $529 million for March.  On the other hand, exports have been going down in the same period starting from $258,7 million in January to $240 million in February and $255 million in March.

BancABC group economist Mr James Wadi said:

With legal frameworks such as Statutory Instruments 64 of 2016, it does not automatically mean the reversal of imports lowering them than exports. Such a policy means giving local business a chance to survive by controlling the level of imports into the country.

More: Chronicle

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