The verification of a foreign partys reliability facilitates future trade, including pursuant to BIS license reviews. Exports FDI, net inflows GDP Growth Rate GDP Per . Vehicles other than railway, tramway. ZIMBABWE is a host of 60 different types of minerals, 40 of which have been historically exploited to various extents. That is, most products are imported from these countries to Zimbabwe. The United States imposes export controls to protect national security interests and promote foreign policy objectives related to dual-use goods and less . Bookmark. The Zambezi River is the northern border of Zimbabwe. Exports in Zimbabwe averaged 499.42 USD Million from 1993 until 2022, reaching an all time high of 2496 USD Million in December of 1996 and a record low of 143.87 USD Million in October of 2011. 2012. The economy of Zimbabwe mainly relies on its tertiary industry, which makes up to 60% of the total GDP as of 2017. Zimbabwe Exports, major trade partners . As the 2020-2021 tobacco selling season commenced, tobacco exports shot up to 21.8 % in May 2021 from 9.1 % in April 2021. For example, Zimbabwe's Exports rank is higher than 42.25% of the countries in the dataset. In 2019 Zimbabwe imported $4.83B, making it the number 138 trade destination in the world. Zimbabwe was ranked 116th on the list of world's top exporters. Tobacco is Zimbabwe's main export crop, recording $898,8 million in sales in 2018, down from $913,8 million in 2017, according to data from the Tobacco Industry and Marketing Board. Zimbabwe - Export Controls. Agriculture is the backbone of Zimbabwe's economy as Zimbabweans remain largely a rural people who derive their livelihood from agriculture and other related rural economic activities. Zimbabwe Raw materials imports are worth US$ 148 million, product share of 3.09%. Zimbabwe Capital goods imports are worth US$ 1,282 million, product share of 25.40%. The other main exports are sugar and cotton and in years of surplus maize is exported. Includes the U.S. government export controls that companies need to abide by when exporting to this country. The first table below shows top trading partners of Zimbabwe in terms of export sales (selling), including South Africa, Netherlands, and Botswana. The second exported is Tobacco, which accounts for 3.69%. External links to other Internet sites should not be construed as an endorsement of the views or privacy policies contained therein. Zimbabwe's strategic geographic location in southern Africa offers untapped opportunities for local industries to export easily into neighbouring countries. GERMANY Exports to Zimbabwe - Major Export products . This potential was calculated by using the highest export . Growth in exports has lagged behind growth in imports. Top Import (2019) Refined Petroleum $1.35B. Fishing is one of the major employers in Zimbabwe as it employed more than 4,700 people in 2004 according to data from the Zimbabwean labor department. This statistic shows the most important export partner countries for Zimbabwe in 2019. Carved on their faces are visible marks of sorrow as they . Economic sanctions during UDI, which had been imposed by stages from 1966 to 1968 on both imports and exports, were lifted in December 1979. . Export Controls. According to the RBZ, legal exports of gold, Zimbabwe's top mineral export, increased from US$1.2billion in 2020 to US$1.7 billion in 2021. . Zimbabwe is currently our 174th largest goods trading partner with $87 million in total (two way) goods trade during 2019. Headlines / November 1, 2022 / By Editor. It covers 390,757 km, of which 3910 km are covered by water. Business type: Export & Import. by Daniel Workman. Zimbabwe has the second biggest informal economy as a share of its economy, which has a score of 60.6%. Also shown are the trade value and the percentage share for each export category as well as the growth rate during the past 5 years. During Jan-Nov 2018, GERMANY has a total export of US $ 20.0 Million from Zimbabwe.The top products exported from Zimbabwe are UNMANUFACTURED TOBACCO/ TOBACCO REFUSE MEN'S OR BOYS' SUITS, ENSEMBLES, JACKETS, BLAZERS, TROUSERS, ETC WASTE,SCRAP OF PRECIOUS METAL OR OF METAL CLAD OF PRECIOUS METAL FERRO-ALLOYS which is 52.49% . In 2019, the most important export partner of Zimbabwe was the United Arab Emirates, with a . To increase earnings from cotton to clothing value-chain exports, there is need to step up efforts . The country suffers from a binding foreign exchange constraint that forced the central bank to introduce an interbank market for foreign exchange in February 2019. These goods are relatively elastic, which means a variation in price has a major impact on demand for that product. Tobacco is Zimbabwe's second-biggest foreign currency earner after gold, which accounted for US$741 million of the US$4.395 billion from exports in 2020 (Reserve Bank of Zimbabwe, 2021). The ports authority of Zimbabwe provides safe and efficient transportation system that ensures safe trading in the ports and improved the economic prosperity of . Prepared by our U.S. Embassies abroad. Others include: diamonds, platinum, ferrochrome, and gold. Although the 2009 adoption of the multicurrency monetary regime, under which the U.S. dollar dominated business transactions, brought stability and restored business confidence, the introduction of the surrogate currency known as bond notes in 2016 reintroduced uncertainties within the economy. . Zimbabwe's main exports during May 2021 were nickel mattes, ores and concentrates (38.6%), semi-manufactured gold (16.1%) and these minerals constituted a total of (54.7%) in total export earnings. Zimbabwes main exports include gold, platinum, chrome, tobacco, and cotton. . Foreign Safeguard Activity Involving U.S. Exports, Zimbabwe - Using an Agent to Sell US Products and Services, Zimbabwe - Distribution and Sales Channels, Zimbabwe - Selling Factors and Techniques, Zimbabwe - Trade Promotion and Advertising, Zimbabwe - Sales Service/Customer Support, Zimbabwe - Protecting Intellectual Property, Zimbabwe - Principle Business Associations, Zimbabwe - Limitations on Selling US Products and Services, Zimbabwe - Biotechnology Research and Development Laboratories or Services in Agriculture, Zimbabwe - Import Requirements and Documentation, Zimbabwe - Prohibited and Restricted Imports, Zimbabwe - Licensing Requirements for Professional Services, Zimbabwe - US Banks and Local Correspondent Banks. The second exported is Tobacco, which accounts for 3.69%. USA.gov|FOIA|Privacy Program|EEO Policy|Disclaimer|Information Quality Guidelines |Accessibility, Official Website of the International Trade Administration, Comply with U.S. and Foreign Export Regulations. In the long-term, the Zimbabwe Imports is projected to trend around 430.00 USD Million in 2022 and 570.00 USD Million in 2023, according to our econometric models. BIS works closely with U.S. embassies, foreign governments, industry, and trade associations to ensure that exports from the United States are secure and items subject to the EAR comply with the regulations. The economy of Zimbabwe. Download Historical Data. Victoria Falls, Zimbabwe. South Africas bilateral trade with Zimbabwe (2007 2016). For advice and regulatory requirements on items under the export control jurisdiction of other U.S. Government agencies, exporters should consult other U.S. Government agencies. According to the agency, South Africa (SA) was the major trading partner with Zimbabwe. What is Zimbabwe's largest single import? Zimbabwes principal agricultural exports in descending order include tobacco (60 percent of total agricultural production), cotton lint (about 10 percent), raw sugar (9 percent), tea and coffee, horticultural products and maize (in nondrought years). Zimbabwe Imports from China. U.S. goods exports to Zimbabwe in 2019 were $40 million, up 18.4% ($6 million) from 2018 but down 53.2% from 2009. Zimbabwe Import Data of 2021 suggests that Zimbabwe's imports were around 5.24 Billion US Dollars. A list of other agencies involved in export control can be found on the BIS website and in Supplement No. Zimbabwe Export Data of 2021 suggests that Zimbabwe's exports were around 5.68 Billion US Dollars. SADCC transformed into SADC in 1992 with the signing of the SADC Treaty in Windhoek, Namibia. Tel: +263-242-776 085/89. The landlocked country of Zimbabwe lies to the south of the equator and is part of the African continent. But while tobacco is making some people rich, the farmers sucked into contract farming at the bottom of the pile are losing money. Tobacco is the largest export crop (23 percent of merchandise exports in 1997) and Zimbabwe is among the world's biggest exporters. Zimbabwe also has a plant breeder's rights legislation; however, the country is not a member of UPOV. (408) 998-8806 - Northern California branch (located in San Jose, CA open Monday-Friday, 8:00am-5:00 pm PT). Exports. International Trade Administration HS Code Import USD$ (27) Oil & Mineral Fuels: $1,465,641,689 (84) Industrial Machinery The main destination of Gold exports from Zimbabwe are: United Arab Emirates ($1.3B), South Africa ($412M), Hong Kong ($9.88M), and Israel ($228k). The principal imports are fuels and petroleum products, electricity, machinery and transport equipment, food, and miscellaneous manufactured goods. What is Zimbabwes largest single import? Zimbabwe - Imports - million US$ South Africa Zambia China India Botswana United Kingdom Kuwait Mozambique Malawi United States 2004 2008 2012 -500 0 500 1,000 1,500 2,000 2,500 3,000 Source: Merchandise trade matrix, imports and exports of total all products, annual, 1995-2013 The Bureau of Industry and Security (BIS) is responsible for regulating, implementing, and enforcing dual-use export controls. Although Zimbabwe is a landlocked country, the country has vast quantities of fish resources which are vital to the country's economy. Overall, Mashonaland West has the potential to earn more than US$400 million in exports annually from value-added products. The economy of Zimbabwe grew at an average of 12% from 2009 to 2013, rendering it one of the fastest growing economies in . Year. Table 2, indicate that South Africa is the main export destination for Zimbabwean products, with U S$1.31 billion worth of exports. The export value of clothing and textile also increased from 14.9 million in 2020 to 16.9 million in 2021. Machinery, nuclear reactors, boilers. Africa is huge and different. Zimbabwe exported about 17 443 tonnes of raw sugar to . Goods exports totaled $40 million; goods imports totaled $47 million. Zimbabwe has yet to accept the Protocol amending the TRIPS Agreement to provide additional flexibilities to grant special compulsory licences for exports of medicines. $203.71M. The fastest growing export markets for Gold of Zimbabwe between 2018 and 2019 were Hong Kong ($9.88M)and Israel ($228k). The IMF believes the country grew by 3.4 percent in 2018 but will decline by 5.2 percent in 2019. And in terms of Purchasing Power Parity Zimbabwe is leading the 117th position in the world. Imports in Zimbabwe decreased to 729.60 USD Million in July from 753.10 USD Million in June of 2022. Major exports include gold, tobacco, metal alloys, cotton, and sugar. Apart from tobacco the other major agricultural exports include sugar, tea, coffee, cotton, fruit and vegetables, fresh cut flowers, seeds, maize, small grains and oilseeds. Zimbabwe Major Exports. Zimbabwe exports for 2020 was $6.72B, a 11.43% increase from 2019. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Interested parties can check a list of upcoming seminars and webinars or reference BIS provided online training. So, UAE which had 36,4 per cent in . The Eastern and Southern African Trade and Development (TDB) has extended a 3-year USD 10 million trade finance line of credit to support NMB Bank's corporate clients in export-focused sectors of the economy. Harare. A lock ( Share sensitive information only on official, secure websites. In 2016, imports accounted for more . Zimbabwe has the second biggest informal economy as a share of its economy, which has a score of 60.6%. What is Zimbabwes' main export? Zimbabwe's economy is heavily reliant on imports, including refined petroleum, corn, electricity, and package goods such as medication. Zimbabwe, self-sufficient in food production and a major exporter of wheat, tobacco, and corn to the 14-member Southern African Development Community, to other African countries and the wider world before 2000, saw its exports plummet. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy. It also has some gold, cotton, and chrome. 2020. In 2020, Zimbabwe exported a total of $4.34B, making it the number 116 exporter in the world. Recent developments. The following table lists the top products exported by Zimbabwe. Zimbabwe Intermediate goods imports are worth US$ 1,215 million, product share of 25.38%. Following a contraction from 1998 to 2008, the economy recorded real growth of more than 10% per year in the period 2010-13, before falling below 3% in the period 2014-17, due to poor harvests, low diamond revenues, and decreased investment. Following a contraction from 1998 to 2008, the economy recorded real growth of more than 10% per year in the period 2010-13, before falling below 3% in the period 2014-17, due to poor harvests, low diamond revenues, and decreased investment. In terms of GDP, Zimbabwe is the 115th largest economy in the world. This page provides - Zimbabwe Imports - actual values, historical data, forecast, chart, statistics . The Consolidated Screening List (CSL) is a list of parties for which the United States Government maintains restrictions on certain exports, reexports or transfers of items. Specifically, an EUC verifies the bona fides of transactions subject to the EAR, to include: confirming the legitimacy and reliability of the end use and end user; monitoring compliance with license conditions; and ensuring items are used, re-exported or transferred (in-country) in accordance with the EAR. Zimbabwe Trade Statistics. ATTENTION TO RIGHT HOLDERS! However, production since 2000 has been dominated by about ten minerals which are gold, platinum, coal, nickel, chrome, diamonds, black granite, copper, silver, and asbestos. 2012. Economic activity slowed in 2022, constrained by worsening agricultural conditions and price instability. A locked padlock ) or https:// means youve safely connected to the .gov website. Growth in exports has lagged behind growth in imports. Zimbabwe Exports and Imports of Product Groups 2019. Spread This News ZIMBABWE has recorded an increase of $5 million from its horticulture exports to the European Union over a period of one year, freshplaza.com an online portal has reported . Top Import (2019) Refined Petroleum $1.35B. South Africa is Zimbabwes number one trading partner, accounting for 71% of all exports and 38% of imports, in 2015. Chief exports for Zimbabwe remains primary products which are unprocessed, while the country imports finished products which have been value-added. The U.S. goods trade deficit with Zimbabwe was $7 million in 2019. According to the statistics of CIA FactBook, Zimbabwe exported US$5,867 million worth of goods around the world in 2018. BIS also provides a variety of training sessions to U.S. exporters throughout the year. As Per our Zimbabwe Trade Data, Zimbabwe is ranked 129th in the world in terms of GDP with a total trade value of $9.6 Billion US Dollars in the year 2021. For example, Mashonaland West has potential in agriculture and horticulture, processed foods, arts and crafts, clothing and textiles, furniture and packaging. Exports play an important role in economy, influencing the level of economic growth, employment and the balance of payments. Log in, Gems, precious metals: US$2 billion (32.9% of total exports), Tobacco, manufactured substitutes: $836.5 million (13.9%), Mineral fuels including oil: $94.4 million (1.6%), Salt, sulphur, stone, cement: $60.5 million (1%), Raw hides, skins not furskins, leather: $30.7 million (0.5%), Gems, precious metals: US$2 billion (Up by 48% since 2020), Ores, slag, ash: $1.1 billion (Up by 65.3%), Tobacco, manufactured substitutes: $818.3 million (Up by 5.1%), Iron, steel: $91.4 million (Up by 460.2%), Fruits, nuts: $30.9 million (Up by 11.9%), Raw hides, skins not furskins, leather: $29.3 million (Down by -2%), Coffee, tea, spices: $16.9 million (Down by -13.7%), Collector items, art, antiques: $8 million (Up by 51.7%), Mineral fuels including oil: -US$1.3 billion (Up by 11.8% since 2020), Machinery including computers: -$933.6 million (Up by 48.3%), Fertilizers: -$440.3 million (Up by 88.2%), Pharmaceuticals: -$413.8 million (Up by 121.8%), Cereals: -$332.2 million (Down by -35.8%), Electrical machinery, equipment: -$314.7 million (Up by 45.9%), Plastics, plastic articles: -$287.8 million (Up by 55%), Animal/vegetable fats, oils, waxes: -$279.3 million (Up by 64%), Other chemical goods: -$274.6 million (Up by 46.9%), Cotton Company of Zimbabwe (cotton lint, cottonseed), Dairibord Zimbabwe Ltd (milk, other dairy products), Sable Chemicals (fertilizer, ammonia nitrate), Zimbabwe Iron and Steel Company (iron, steel). Contact Supplier Blakeney Farm. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies . BIS has developed a list of red flags, or warning signs, and compiled Know Your Customer guidance intended to aid exporters in identifying possible violations of the EAR. According to the statistics of CIA FactBook, Zimbabwe exported US$5,867 million worth of goods around the world in 2018. If BIS is unable to verify the reliability of the company or is prevented from accomplishing an EUC, the company may receive, for example, more regulatory scrutiny during license application reviews or be designated on BISs Unverified List or Entity List, as applicable. Besides direct investment in mining, there is a significant opportunity to provide heavy underground mining machinery . On the other hand, the instability in exports can adversely affects the process of economic development. The government estimates Zimbabwe has over 50,000 medium- to large-scale farmers, and the country only has approximately 10,300 functional tractors of the 40,000 needed for commercial cultivation. IMPORTANT NOTE: Exporters must know the trading policies governing trade between Zimbabwe and the target market and more importantly, you must know the Rules of Origin (ROO) criteria. Zimbabwe's main exports include gold, platinum, chrome, tobacco, and cotton. Mining, trade, and tourism took advantage of high commodity prices and the relaxation of COVID-19 restrictions, helping to drive growth. The main product imports of Zimbabwe are Mineral Fuels, Oils, Medicines, Vehicles, and Machinery. Zimbabwes rate of inflation rose sharply from 0.53 percent in December 2017 to 42.1 by December 2018 thanks to high government borrowing for much of 2018, resulting in high growth in money supply, as well as the pass-through effect of the black-market currency depreciation. Among all the top products exported from Zimbabwe, Nickle contribute to 5.52% of total trade value, equal to US$323,939 thousand. That dollar total reflects a 52.7% expansion from $5.64 billion in imports during 2017. A .gov website belongs to an official government organization in the United States. Zimbabwe / Zimbabwe. Although Zimbabwe improved its rank in the World Banks Doing Business survey for 2018 to 155 out of 190, it still ranks poorly in global comparisons of economic competitiveness. ZIMBABWE has registered remarkable growth in exports to Dubai, a key province in the United Arab Emirates (UAE), to clock US$1.4 billion in 2020 earnings from just . U.S. Department of Commerce Zimbabwe ports play an important role in the export and import trade of the country. The industrial sector is one of the most valuable sectors in the nation after contributing about 25.1% of the total gross domestic product (GDP) of $16.29 . In 2001, Zimbabwe was the world's sixth-largest producer of tobacco, behind only China, Brazil, India, the United States and Indonesia. Among all the top products exported from Zimbabwe, Nickle contribute to 5.52% of total trade value, equal to US$323,939 thousand.
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