Trade deficit set to continue

Zimbabwe is the world’s biggest
exporter of “unused postage,
revenue or similar stamps”,
according to official statistics.
In 2010 Zimbabwe sold more
than half a billion dollars’ worth of
unused government-issued stamps
to buyers unknown, according to
official statistics.
The problem is that no-one
believes the figures, and there is
much speculation around what
constitutes unused postage
stamps.
Zimbabwe’s export mix is made
up primarily of unused postage,
revenue or similar stamps (17%);
nickel mattes and other products
of nickel metallurgy (14%),
tobacco, raw (11%), diamonds
(11%), and gold (9%).
The biggest export trade
partners in 2013 were South Africa
(68.9%), United Arab Emirates
(12.4%), China (2.2%), Zambia
(2.5%), and Mozambique (7.3%),
according to the World Trade
Organisation (WTO).
“Strict control in trade exercised
by the government and the
relatively high customs duties
create a difficult access to the
country,” according to the WTO.
Other barriers that “continued
to harm foreign trade” during
2013 were “the lack of long-term
economic and political reforms, the
State control over the companies,
insecurity and a lack of skilled
labour force”.