Alois Vinga
ZIMBABWE’S annual exports for 2020 defied Covid-19 pandemic and grew to a record US$4.4 billion on the backdrop of a raft of economic reform measures, the country’s trade facilitation body, Zimtrade has reported.
Predictions by the World Trade Organization (WTO) last year had projected “world trade is expected to fall by between 13 to 32% in 2020 as the Covid-19 pandemic disrupts normal economic activity and life around the world”.
However, based on the Zimbabwe National Statistic Agency (Zimstat) data, the trade facilitator said exports grew by 2.7% in 2020.
The growth coincides with increased foreign currency availability on the Reserve Bank of Zimbabwe (RBZ) foreign exchange auction system coupled with stable exchange rates, which have spurred businesses.