|Zim trade deficit widens|
|Thursday, 07 January 2016 19:47|
Zimbabwe’s trade deficit in the 11 months to November 2015 widened to US$3 billion, latest figures from the Zimbabwe National Statistics Agency (ZIMSTAT) show.
Cumulative imports for the 11 months stood at US$5.5 billion against an export bill of US$2.48 billion.
Neighbouring South Africa remains the country’s biggest trading partner with imports from the country amounting to US$1.9 billion during the 11 under review.
The country’s huge trade deficit has been attributed to among other factors, the country’s over-reliance on foreign goods, most of which can be produced locally.
These goods include grains, foodstuffs, chemicals and pharmaceutical products, among others.