Zim saves US$80 million as cereal imports drop

By Stanely James Business Editor
THE success of the last summer cropping season has seen cereal imports including maize dropping from nine percent in January to less than three percent in August.
Latest statistics released this Monday by the Zimbabwe National Statistical Agency (ZIMSTAT) indicate that maize output, which reached a record high this year has had a positive effect on the level of imports.
According to the data, a rise in output for other grains including sorghum, pear millet and finger millet led to a reduction in grain imports by over 80 million United States dollars.
Treasury has already responded to the rise in agricultural output by revising upwards overall economic growth forecast this year to 7,8 percent despite COVID-19 challenges.
Zimbabwe’s major imports for the trade period under review were mainly machinery and equipment as well as mineral oils.
Other key imports were animal and vegetable fats, plastics and articles, fertilisers and pharmaceutical products, including vaccines.
Gold, platinum, nickel and chrome constituted the key elements of the country’s exports as the mining sector continues to play a leading role in economic development.
South Africa is still Zimbabwe’s major trading partner followed by the United Arab Emirates, Mozambique, China, Singapore, Hong Kong, India, Mauritius and the United Kingdom.

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