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US trade positive despite Agoa blacklisting

12 Feb 2024 - by -
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Despite being excluded from the African Growth and Opportunity Act (Agoa) benefits, Zimbabwe is growing its exports to the US.According to official US trade figures, Zimbabwean exports to the US totalled $87 million in 2022, up 102.2% ($44m) from 2021, and up 65% from 2012.In contrast, US exports to Zimbabwe in 2022 dropped by 9.7% to $41m from 2021 and are down 24% from 2012. The trade balance shifted from a goods trade surplus of $2m in 2021 to a goods trade deficit of $46m in favour of Zimbabwe in 2022.US foreign direct investment in Zimbabwe (stock) was $238m in 2022, a 31% decrease from 2021.Zimbabwe benefits from the Trade & Investment Framework Agreement between the US and the Common Market for Eastern and Southern Africa

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