Articles tagged 'trade'

Zim tade deficit narrows by record $818m 20 December 2016 HARARE - Zimbabwe's trade deficit has narrowed by a record $818 million in the 11 months to November 2016, the largest contraction since the introduction of a multiple currency system seven years ago. Figures released yesterday by the national statistics agency revealed that the country export...
Zim trade deficit widens 1 October 2016 HARARE - Zimbabwe's huge trade deficit continues to widen driven by low exports and a growing consumptive import bill, despite a legislative piece recently introduced by government to curb the import of locally available goods. Information released by the Zimbabwe statistical agency (Zimstat) ...
Zim to host inter-governmental commission session 1 May 2016 HARARE - Zimbabwe will this week host the second session of the Zimbabwe-Russia inter-governmental commission on economic, trade, scientific and technical cooperation, the Foreign Affairs ministry has said. The session that will be held in the capital today is a follow up to the first session ...
Zim trade deficit declines 18 April 2016 HARARE - Zimbabwe’s trade deficit declined by 14 percent to $322,8 million in the first quarter of 2016 compared to prior year, on the back of tight import regulations and low liquidity levels in the country. The trade gap was down from $380 million at the end of March 2015, data released by t...
Zim trade deficit declines 18 March 2016 HARARE - Zimbabwe's trade deficit declined by 19 percent to $380 million in the first two months of 2016 compared with a year earlier, as a result of tight import regulations and low liquidity levels in the country. The trade gap was down from $472 million at the end of February 2015, data rel...
Zim seeks increased trade with Indonesia 10 February 2016 HARARE - Zimbabwe has made strides to enhance bilateral relations with Indonesia through increased trade between the two countries. Indonesia's Foreign Affairs deputy minister Abdurrahman Mohammad Fachir yesterday told delegates attending a business meeting in the capital there was need for di...
Import permits to be issued sparingly: Bimha 29 January 2016 HARARE - Industry minister, Mike Bimha, says the country is going to maintain a stringent approach to issuing import permits to protect local industry and cut on an ever ballooning import bill. Bimha said the move was against cheaper imports as the United States Dollar (US$), the country’s mai...
China leads Zim towards recession 12 January 2016 HARARE - The contagion from China's ongoing financial meltdown will likely drive Zimbabwe into a worse recession this year, experts warned this week, after Harare ill-advisedly adopted the yuan as a reserve currency this month. This comes as  the People's Bank of China, the central bank, last ...
South Africa ends trade row with US 8 January 2016 JOHANNESBURG - South Africa has resolved a trade row with the US which threatened millions of dollars worth of business, its trade minister has said. The US had said it would throw South Africa out of its preferential trade programme over its refusal to allow the importation of American chicke...
Zim exports surge to $2,2bn 16 December 2015 HARARE - Zimbabwe's total export receipts for the eleven months to November 2015 stood at $2,2 billion with gold exports accounting for 24 percent of the earnings at $503 million, it has emerged. Data from the Zimbabwe National Statistics Agency (Zimstat) indicates that the yellow metal is cur...
Time to rethink trade with China 8 December 2015 HARARE - While we welcome trade growth between Zimbabwe and China which was highlighted by the high-profile visit of the Chinese president Xi Jingping last week — where a string of deals were signed between the two countries — we will not stop raising concerns about the deplorable labour relation...
Zim trade deficit balloons 19 October 2015 HARARE - Zimbabwe's trade deficit widened to $2,3 billion in the nine months to September 2015, in a latest clear sign of the Zanu PF government's failure to reign in the country's moribund economy. Figures released on Friday by the Zimbabwe National Statistics Agency (Zimstat) revealed that t...
'Zim can reduce trade deficit with SA' 11 April 2015 HARARE - Zimbabwe has the capacity to turn around its $2,2 billion trade deficit with South Africa if the country starts producing more goods, economic analysts say. This comes after President Robert Mugabe on Wednesday told the media that Zimbabwe “will never” balance its trade with South Afr...
Zim to import food: Mnangagwa 13 March 2015 HARARE - The leader of government business told lawmakers that government had made efforts to seed the clouds to enhance rains but this failed. He was responding to Zanu PF MP David Chapifika who wanted to know if it was not advisable for government to make use of the $400 000 set aside for cl...
Cheap imports choke local industry 19 May 2014 HARARE - Local industrialists are crying foul over the influx of cheap imported commodities into the Zimbabwean market. Stephen Chikomba, a business development manager with Mallcrest Enterprises, said local products were being pushed out of the market because people prefer cheap, foreign good...
US strengthens Zim trade ties 25 April 2014 BULAWAYO - Bruce Wharton, the American Ambassador to Zimbabwe, has praised Harare for its positive trade relations with Washington over the past 15 years despite seemingly frosty relations. In an address at the Zimbabwe International Business Conference, Wharton said Zimbabwe and the US had be...
Zim-China trade tops $1,1 billion 24 February 2014 HARARE - Trade between China and Zimbabwe grew to over $1,1 billion last year as the southern African country's reliance on the emerging Asian giant grows. Lin Lin, the Chinese ambassador to Zimbabwe, last week said business traffic between the two countries ballooned from $310 million in 2003...
WTO pact no benefit for Zim 17 January 2014 HARARE - Zimbabwe will not benefit from the World Trade Organisation (WTO)’s Bali agreement as the country remains a net importer, Industry minister Mike Bimha said yesterday. Last month, WTO adopted a trade facilitation pact at the 9th ministerial conference held in Bali, Indonesia. Whilst...
Zim trade deficit worsens 11 December 2013 HARARE - Zimbabwe's current account deficit ballooned by half a billion dollars in the 10 months to October 2013 as the country remains a net importer. Figures released by the Zimbabwe Statistical Agency indicate that the southern African country ? whose industry is depressed, operating at way...
Zim cautious on EPAs: Bimha 11 November 2013 HARARE - Zimbabwe will negotiate Economic Partnership Agreements (EPAs) cautiously, Trade minister Mike Bimha said ahead of the forthcoming 9th World Trade Organisation (WTO) ministerial conference in Bali, Indonesia, next month. The country is among East and Southern African (ESA) countries s...
Trade deficit widens 21 October 2013 HARARE - Zimbabwe's trade deficit ballooned to $3,02 billion in the eight months to August 2013 after the country imported goods worth $5 137 billion against $2,11 billion exports during the period. According to latest figures from the national statistics agency, Zimstats, the southern African...
Zim, SA trade up marginally 15 October 2013 HARARE - Trade between Zimbabwe and South Africa (SA) has marginally increased from R18, 5 billion in 2011 to R18, 8 billion last year. SA ? the continent's largest economy ? is Zimbabwe's biggest trading partner. Elizabeth Thebethe, SA's Trade and Industry deputy minister, yesterday said t...
Mugabe's new threat to SA firms 13 August 2013 HARARE - News that President Robert Mugabe will continue for a seventh term has left investors white in the face — not exactly a useful colour in Zimbabwe right now. Mugabe will target the remaining 1 138 white and foreign-owned companies left in the country, as well as local banks with foreig...
Uncertainty haunts Zim 12 August 2013 HARARE - As the country races towards year-end, the aftermath of Zanu PF's heavily-contested election victory has brought uncertainty on a stuttering economy and could have a negative impact on millions of Zimbabweans reeling with poverty and a bleak future. Long-suffering Zimbabweans are faci...
'Zanu PF victory not detrimental to economy' 9 August 2013 BULAWAYO - President Robert Mugabe's Zanu PF has been rattled by the panic gripping the nation triggered by its contested victory in the just-ended harmonised elections. The party's Bulawayo provincial chairperson Callistus Ndlovu said growing fears which have led to some people trying to pull...