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JUST IN: Trade deficit narrows to US$38.8 million in August

08 Nov, 2019 - 16:11 0 Views
JUST IN: Trade deficit narrows to US$38.8 million in August

The Herald

Business Reporter
Zimbabwe traded goods worth US$729.6 million in the month of August 2019, a 11.1 percent increase from US$656.6 million recorded in the previous month.

According to the RBZ’s monthly report for August released this week, the increase in trade was underpinned by increases in both merchandise exports and imports. Monthly merchandise exports grew by 15.3 percent, from US$299.5 million in July 2019 to US$345.4 million in August 2019.

The RBZ said the increase in exports was on account of higher export earnings from gold (34.6 percent); nickel ores and concentrates (21.5 percent); and flue cured tobacco (90.8 percent). Overall merchandise trade developments resulted in a 32.7 percent improvement in the country’s trade balance from a deficit of US$57.6 million in July 2019 to a deficit of US$38.8 million in August 2019.

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