Oliver Kazunga

THE national trade development and promotion agency, ZimTrade, says Zimbabwe’s exports have started picking up as the world markets re-open from the Covid-19-induced lockdown.

When Zimbabwe and the rest of the world announced lockdown measures to curb the spread of the Covid-19 pandemic, concerns were raised from business interests on how these would affect economies.

This was in the context that the lockdown measures, in most cases, frustrated trading and resulted in reduced consumption of non-essential commodities.

According to official figures from the Zimbabwe National Statistics Agency (Zimstat), between January and May this year, exports declined by 24,89 percent from around US$397,7 million to US$298,7 million.

“Although, exports declined during the period, it is encouraging that exports have started to pick up even when the world markets have not fully re-opened,” said ZimTrade in a statement.

It said decline the Zimbabwe’s exports during the period under review is within World Trade Organisation’s projections that “world trade is expected to fall by between 13-32 percent in 2020 as the Covid-19 pandemic disrupts normal economic activity and life around the world.”

Imports also decreased by 5,85 percent from US$383,5 million in January to US$361,1 million in May.

The resurgence of exports growth, ZimTrade said, is indicative of the potential for the country to grow exports once world markets fully open.

“During the period April and May this year, exports took a huge jump from around US$200 million to US$299 million mostly due to an increase in exports of minerals and tobacco,” said the trade development and export organisation.

It said the increase in exports growth will be easily sustained by value addition as well as increased production of  goods that are presently in demand around the world.

“For example, with changes in consumption behaviours and people paying attention to what they eat, there has been an increase in the consumption of goods considered to be super foods because of perceived healthy benefits,” said ZimTrade.