Zim trade deficit widens

ZIMBABWE recorded a trade deficit of $323 million in the first quarter of the year, an indication the country continues to rely on foreign-produced goods in spite of government efforts to halt the tide, latest trade data from the national statistics agency shows.

Information released by the Zimbabwe National Statistics Agency (ZimStat) recently shows that imports to March amounted to $490 million against $167 million exports, which remain heavily skewed towards consumptive products following a significant drop in raw materials importation.

Most of the imports were consumptive products such as bottled water, sugar, soap, cooking oil, cellphone handsets, electronics, vehicle spares, vehicles, generators and second hand vehicles.

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