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The statistical data body, Zimbabwe National Statistical Agency, on June 13 said exports valued at US$344 988 758 were recorded with a total import receipt of US$497 473 358.
According to the data body, trade deficit, compared to the corresponding period in 2010, reduced from US$745,2m when the country exported goods worth $813, 7 million while imports were valued at $1,5billion.
South Africa, it says, accounted for the highest imports with US$240 934 303, while imports from both Botswana and China totaled over US$23 million each. India accounted for US$20 572 204 of the total imports, and Zambia US$16 147 907.
Most basic food products consumed are from neighboring countries as local industries are struggling to produce due to undercapitalization
On exports, South Africa benefited from US$219 628 432 worth of goods, China US$39 927 578, United Arab Emirates US$20 187 234, Italy US$9 843 860, Botswana US$3 028 436, Malawi US$2 145 722, Swaziland US$1 966 634 and US$1 891 512 for Mozambique.
Last week, International Monetary Fund downgraded Zimbabwe’s projected economic growth from 9 percent to 5, 5 percent
Between the months of January and May this year, Zimbabwe Investment Authority (ZIA) okayed 75 investment projects worth US$900 million compared to 72 valued at US$104 million last year.
The agricultural sector recorded two projects worth US$444 million, with the manufacturing sector recording 34 projects worth US$104 million.
Mining came third with 20 projects worth US$239 million, while services had 18 projects worth US$4108 million.
The 75 investment projects is expected to create employment for 5 246 people and generate some US$438 million compared to last year’s US$35 million.
Of the approved projects 26 are foreign owned with 49 projects being joint ventures.
