The Buy Zimbabwe Campaign has called for increased government support for local industries following the release of September 2024 trade data, which shows a widening trade deficit of USD 207.6 million. This reflects a 4.2% rise from August’s USD 199.1 million, driven by a sharp decline in exports.
Zimbabwe’s exports fell 14.7% to USD 575 million in September, with major drops in key commodities such as semi-manufactured gold (down to USD 231.1 million) and nickel ores (down to USD 19.7 million). Imports, although reduced to USD 782.6 million, still outpaced exports, exacerbating the trade imbalance.
The Buy Zimbabwe Campaign highlighted that many of the imported goods—such as fertilizers, furniture, and ceramics—are already produced locally. “We urge the government to incentivize domestic manufacturers,” the organization said in a statement. “This will help reduce the import bill, boost exports, and strengthen our economy.”
The campaign also emphasized that Zimbabwe’s reliance on imports for essential goods, such as mineral fuels and cereals, can be mitigated by further developing local industries.
Some export sectors showed promise, with tobacco exports rising to USD 111.2 million and nickel mattes increasing to USD 74.6 million. However, Buy Zimbabwe believes more needs to be done to expand the range of competitive exports.
“We must prioritize value addition and increase production across sectors to close the trade gap,” the organization added.
The group called on policymakers to introduce targeted incentives for local manufacturers and promote the “Buy Local” agenda to foster economic growth.
