Breaking News

AfDB urges Zimbabwe to diversify export base

by Staff reporter
18 February 2013 | 3428 Views
ZIMBABWE should focus on diversifying its export basket for it to lower the widening trade deficit, the African Development Bank has said. The country presently imports about US$7 billion worth of goods, mainly from South Africa, and exports about US$3 billion worth of goods.

In its monthly economic review for January 2013, the AfDB said the country's export basket continued to be dominated by raw products.

For example, the bank said that during the period January to October 2012, mineral exports accounted for 64 percent of all exports followed by tobacco at 19,4 percent.

"Thus, about 83 percent of exports are raw materials, emphasising the need to broaden the export base to also include semi-processed commodities," said the bank.

"Low exports are a reflection of the local industry's low production capacity and the absence of diversification and value addition."

The AfDB said Zimbabwe should strive to recapture regional markets by increasing and creating new export products.

It also encouraged Zimbabwe to ensure beneficiation of products, particularly minerals, before export to increase their value.

"In this regard, horticultural exports and agro-processing industries need to be revamped, and there should be beneficiation of minerals to increase the value of mineral exports.

"The current scenario which encompasses over-reliance on primary commodities, whose prices are influenced by international developments, leaves little room to influence the pattern of exports.




"Beneficiation of primary commodities would go a long way in increasing the value of exports," said the AfDB.

Industrial capacity utilisation in Zimbabwe is currently below 50 percent mainly due to lack of affordable capital. At least US$2 billion is required to finance industrial recovery in the country.


Exports AfDB

Source: New Ziana.

Is Itai Dzamara eyeing the US Green Card?

Yes
19.07%
No
75.06%
Not sure
5.87%
409

Comments

News Updates

Email:

Latest News

Systems thinking as a tool to harness organizational learning - All hu...

by Temba Munsaka | 27 April 2015 | 182 Views

ZUJ to launch Press Freedom day book - The Zimbabwe Union of Journalis...

by Stephen Jackson | 27 April 2015 | 447 Views

Gold mine executive comments on the current working environment in Zim...

by Edison Investment Research | 27 April 2015 | 754 Views

Tsvangirai stop waffling and put your house in order

by Peacemaker Zano | 27 April 2015 | 1478 Views

Dzamara demo foiled, cops impound cars - POLICE on Saturday morning fo...

by Staff Reporter | 27 April 2015 | 1933 Views

Those who say Mugabe must go must shut up - Zanu PF youth member - Zan...

by Stephen Jackson | 27 April 2015 | 1191 Views

Mugabe's govt neglecting Bulawayo for voting MDC-T, says Mphoko - VICE...

by Staff reporter | 27 April 2015 | 1275 Views

Zimbabwe counterfeiter sent on design and print course in UK jail - A ...

by Staff reporters | 27 April 2015 | 1324 Views

'Zanu-PF not bothered by MDC poll boycott' - ZANU-PF spokesperson Simo...

by Staff Reporter | 27 April 2015 | 627 Views

'Ndebele nation consists of many tribes including the Shona people' - ...

by Concerned Citizen | 27 April 2015 | 1552 Views

Mugabe returns home from Asia - President Mugabe returned home this mo...

by Staff reporter | 27 April 2015 | 1111 Views

PSL in goals - 99 scores from 66 players - The Castle Lager Premier L...

by Thobekile Zhou | 27 April 2015 | 1097 Views

Police biased against men who report cases of gender based violence - ...

by Marvelous Moyo | 27 April 2015 | 976 Views

Toll gates collections treble - ZINARA'S revenue collections from toll...

by Lloyd Gumbo | 27 April 2015 | 1818 Views

Motorist runs over traffic cop at roadblock - A BULAWAYO police office...

by Loveness Bepete | 27 April 2015 | 2844 Views

Tsvangirai threatens to evict resettled farmers - MDC-T leader, Morgan...

by Walter Mswazie | 27 April 2015 | 2294 Views

Guta Ra Mwari leader's son buried - CHEGUTU West Member of Parliament ...

by Mashudu Netsianda | 27 April 2015 | 2376 Views

Italian Mafia smuggles $450 million Zimbabwean diamonds - A Sicilian M...

by Staff reporter | 27 April 2015 | 1609 Views

Grace Mugabe dumps 'Gang of Four' ....as - knives sharpen against Kas...

by Staff reporter | 27 April 2015 | 4399 Views

Kasukuwere dismisses alleged rift with Mnangangwa - Zanu-PF national p...

by Staff reporter | 27 April 2015 | 1158 Views

Pioneer Coaches lays off 80 workers - Some 80 workers at Pioneer Coach...

by Staff reporter | 27 April 2015 | 1681 Views

Granny (93) assaulted over child maintenance by 20 year old

by Staff Reporter | 27 April 2015 | 1017 Views

Bulawayo water safest in the country - ZimStat

by Staff Reporter | 27 April 2015 | 831 Views

Witchcraft allegations over stolen panties

by Staff Reporter | 27 April 2015 | 1260 Views

Dad walks undressed in the house infront of teen daughters

by Staff Reporter | 27 April 2015 | 2237 Views

Mugabe admits Zim economy is in 'dismal state' to Zuma - Mugabe surpri...

by Wilbert Mukori | 27 April 2015 | 2670 Views

Tsvangirai's 'No Reforms - No Election' rallies are receiving full att...

by Prof Richard M Simango | 27 April 2015 | 1611 Views

Manheru: 'Fire breathing' in a grass thatch hut! - Why is every artic...

by Delight Mafika | 27 April 2015 | 1152 Views

Bulawayo 'blood hunter' stabs granny twice

by Staff Reporter | 27 April 2015 | 1109 Views

Entertainment

Chimbetu faces arrest - Dendera musician Tryson Chimbetu is facing ar...

by Tawanda Marwizi | 27 April 2015 | 1846 Views

Cassper Nyovest overwhelmed by the warm reception from Zimbabweans - ...

by Bongani Ndlovu | 27 April 2015 | 2115 Views

Big Nuzz finally dates Byo

by Staff Reporter | 27 April 2015 | 787 Views

Emily Kachote crowned Miss World Zimbabwe 2015 - Beautiful, Emily Tata...

by Staff reporter | 26 April 2015 | 3152 Views

Cassper Nyovest's show not for free - SOUTH African, rapper Cassper Ny...

by Tafadzwa Zimoyo | 23 April 2015 | 3268 Views

Charambas cancel SA tour due to xenophobia - Celebrated gospel artiste...

by Staff reporter | 23 April 2015 | 2427 Views

DJ Sbu's MoFaya hits Bulawayo - Controversial South African TV and ra...

by Staff reporter | 21 April 2015 | 6734 Views
iBlog

Rules Or Relationship

The dog does not need a lead to go for a walk. its owner can just speak a word and the dog responds. now, we are not comparing ourselves to dogs, we are comparing performance-based christian living to relationship-based christian living. big, big ... Read More
LindaDiokpa 30 December 2014 ago

The Zero-day Vulnerability Cve-2014-4114 Impacting All Versions Of Microsoft Windows

new microsoft windows zero-day vulnerability - cve-2014-4114on tuesday, october 14, 2014, isight partners - in close collaboration with microsoft - announced the discovery of a zero-day vulnerability impacting all supported versions of microsoft win... Read More
SecNews 16 October 2014 ago