Forget the hype or the Look East policy. Zimbabwe is still doing more business with the European Union than with China despite the economic sanctions imposed on Zimbabwe by the EU, according to Vice-President Joice Mujuru.
Mujuru told delegates to the Zimtrade conference last week that South Africa remained Zimbabwe’s main trading partner accounting for 40 percent of total exports and 60 percent of total imports.
Though she did not give the percentages, the Vice-President said China was the third most important market for Zimbabwe’s exports after South Africa and the European Union.
The EU imposed sanctions on Zimbabwe more than a decade ago and lifted most of them this year leaving only 10 individuals and one company.
The individuals are President Robert Mugabe and his wife Grace, Didymus Mutasa and the service chiefs.
The only company still on the list is the Zimbabwe Defence Industries.
The Insider could not find the trade data as the website of the Zimbabwe National Statistics is down.
Data released by Zimtrade at the conference showed that in the 20 years between 1992 and 2012, Zimbabwe’s export commodities and the market had changed drastically except only in the case of South Africa which remained Zimbabwe’s main trading partner.
Zimbabwe’s main exports in 1992 were tobacco which accounted for 35 percent of the exports, followed by base metals and products at 23 percent, minerals at 7 percent, textiles also at 7 percent and agricultural products at 5 percent.
Other major exports included processed foods, precious metals, stones and jewellery, chemicals, leather and hides and transportation equipment.
The picture had changed by 2012 with mineral products dominating at 25 percent, followed by tobacco at 21 percent, precious and semi-precious stones at 20 percent and cotton at 8 percent.
The market also changed significantly. South Africa only accounted for 14 percent of exports in 1992, followed by the United Kingdom at 11 percent, Germany 7 percent, the United States 6 percent, Japan also at 6 percent with China way down below Botswana, Switzerland, Zambia and Italy. It only accounted for 4 percent.
South Africa now accounts for 68 percent of the exports and is followed by United Arab Emirates at 6 percent and China at 5 percent. Other major markets are Mozambique, Zambia, Belgium, Italy, Singapore, Botswana and finally the United Kingdom.
(23 VIEWS)
