Trade deficit narrows by 63% (NewsDay)
ZIMBABWE’S trade deficit narrowed by 63% to US$644 million between February and August this year compared to the same period last year, due to shortages of foreign currency for imports. Figures released by the Zimbabwe Statistics Agency (ZimStat) show that between February and August, the country imported goods and services worth US$2,79 billion against exports of US$2,15 billion.
In the same period last year, imports stood at US$4,13 billion and exports at US$2,41 billion, giving a trade deficit of US$1,73 billion. Exports dropped by 11% on the prior year figures, while imports fell by 32%.
Zimtrade rallies industry to export (NewsDay)
THE need to increase Zimbabwe’s exports will come under the spotlight when government, local exporters, industry players, academia and researchers among others meet in Bulawayo on Thursday for the ZimTrade annual exporters’ conference. The conference, taking place under the theme, Rethink, Reform, Export is set to discuss best approaches aimed at addressing challenges faced by local businesses.
Export opportunities and entry requirements from different markets of the world will be presented by buyers from Botswana, the Democratic Republic of Congo, Namibia, Mozambique, UAE and the United Kingdom.
WTO backs US (The Herald)
The United States has cleared the final procedural hurdle in order to impose tariffs on billions of dollars of European products later this month, at a meeting of the WTO’s (World Trade Organisation) governing body yesterday.