Monday , September 26 2022

Rise in Tobacco Exports Narrows Zim Trade deficit ⋆ Pindula News


Zimbabwean Reserve Bank (RBZ) has revealed that Zimbabwe's negative trade balance declined in August, down 42 percent to $ 127.2. This was due to an increase in exports, especially exports of tobacco, which rose by 94 percent. The mining industry also contributed to reducing the deficit in gold trade, which grew by 35.5%, matte nickel rose by 28% and nickel concentrates, which rose by 28.7%. RBZ says in his statement

Exports of goods increased to USD 449.3 million in August 2018, an increase of 32.03% compared to USD 340.3 million recorded in July 2018.

Significant growth in exports was attributed to good exports of smoke-cured tobacco (94.4%); gold (35.4%); nickel mat (28.0 percent); and nickel ores and concentrates (28.7%).

More: Herald

The Reserve Bank of Zimbabwe (RBZ) is the Zimbabwe Central Bank. Her offices are located on Samora Machel Avenue No. 80 in Harare. The Zimbabwean Reserve Bank operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The law provides … Read more about Zimbabwe Reserve Bank

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