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Zimbabwe needs to diversify its exports

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The CEO of ZimTrade has said exports from Zimbabwe need to urgently be diversified to narrow the trade deficit.

Imports have continued to dominate the economy over exports since dollarisation, but the trend is downwards and the trade gap is narrowing.

Zimbabwe’s exports mainly go to South Africa, which constituted 52 percent in 2018, followed by countries like the United Arab Emirates and other regional markets. The statistics agency indicated that the country has gradually lost its export dominance in traditional markets over the years due to a number of barriers.