Value Of Exports Rose To US$528.9 In Nov. 2020 – Zimstat

Value Of Exports Rose To US$528.9 In Nov. 2020 – Zimstat
Value Of Exports Rose To US$528.9 In Nov. 2020 – Zimstat

Africa-PressZimbabwe. The total value of Zimbabwe’s exports in November 2020 rose by 20.3 per cent from the previous month, official statistics reveal.

According to the Zimbabwe National Statistic Agency (Zimstat), the total value of the country’s exports in November 2020 was US$528.9 million, an increase from $439.4 million in October of the same year.

Imports also increased in November, albeit, by 4.0% to US$509.7 million from US$490.2 million in October 2020. Zimstat said in a statement:

The value of total exports in November 2020 was US$528.9 million. This was an increase of 20.3% from the value of total exports in October 2020, which was about US$439.4 million.

During the same period (November 2020), imports increased slightly by 4.0% to US$509.7 million from US$490.2 million in October 2020.

Zimstat also revealed that Zimbabwe’s trade balance has been positive in November 2020 due to large quantities of tobacco exports.

While a positive trade balance was maintained for the four months in a row, at the end of 2019, the trade balance has been positive as well in November 2020 due to large quantities of tobacco exports.

Balance of trade (BOT) is the difference between the value of a country’s exports and the value of a country’s imports for a given period.

A positive BOT is when the value of a country’s exports exceeds the value of its imports for a given period.

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