Zimbabwe records US$17.7 million trade deficit in January

ZIMBABWE recorded a trade deficit of US$17,7 million in January this year compared to a surplus of US$1,4 million recorded during the same month in 2020.

According to trade figures released by the Zimbabwe National Statistics Agency (Zimstat) last week, the value of the country’s exports in January 2021 were US$28 289 769 against imports valued US$46 031 494.

In January 2020, Zimbabwe’s exports stood at US$39 772 535 while goods worth 38 367 580 were imported.

An economic commentator Mr Peter Mhaka attributed the negative trade balance to the adverse effects of the Covid-19 pandemic.

“The country should not be taken aback by the negative trade balance recorded in January, the trade figures given by Zimstat are only confirmatory of the negative repercussions Covid-19 gives to the economy due to the national lockdown,” he said.

Source – chronicle