The small African nation of Zimbabwe has in the recent months been able to bring their trade deficit down significantly. Just 8 months ago in February of 2018 they had a deficit of $229 million, they have been able to grow their exports significantly, cutting down 44% of their deficit to only $127 million in August. This is a really impressive feat for such a small country to pull off, cutting down their deficit by $102 million. Now this may not seem that impressive to countries as large as the United States, where they have deficits in the multi billion range, but this is their equivilant.<\/p>\n
Not only is their trade deficit doing better, but their total trade with other nations has increased nearly 25% more than the previous year, going from $5.1 billion to $6.4 billion. From a 3rd world country that has been for the most part neglected and made fun of since their economic crisis, they in my mind have shown that they are getting themselves back in line. In such a dry country as Zimbabwe they do not export too much agricultural goods, for the most part it is precious metals. In this years exports nearly 88% of their exported goods were precious metals, with semi-processed gold making up 32% of that. The majority of that 12% that was not precious metals was flu-cured tobacco.<\/p>\n
I believe that if the global market demand continues in the trend that it is in with certain markets tightening up and demands rising, Zimbabwe will be able to finally regrow and have their economy get a lift. In order for this to happen though they are dependant on not only the global market demand but the economic growth and stability of their major trade partners. Their largest, which is only 885 miles away, is South Africa, who takes in 46% of Zimbabwe’s exports. Following South Africa is the United Arab Emerites, which is not too large of a surprise to me because of how much money is sitting in there and how much of Zimbabwe’s exports is precious metals, take up 22% of their exports.<\/p>\n","protected":false},"excerpt":{"rendered":"
The small African nation of Zimbabwe has in the recent months been able to bring their trade deficit down significantly. Just 8 months ago in February of 2018 they had a deficit of $229 million, they have been able to grow their exports significantly, cutting down 44% of their deficit to only $127 million in August. This is a really… Read more »<\/a><\/p>\n","protected":false},"author":127,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-2104","post","type-post","status-publish","format-standard","hentry","category-analysis"],"_links":{"self":[{"href":"https:\/\/baileyonlineclassroom.com\/subsaharanafricablog\/wp-json\/wp\/v2\/posts\/2104","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/baileyonlineclassroom.com\/subsaharanafricablog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/baileyonlineclassroom.com\/subsaharanafricablog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/subsaharanafricablog\/wp-json\/wp\/v2\/users\/127"}],"replies":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/subsaharanafricablog\/wp-json\/wp\/v2\/comments?post=2104"}],"version-history":[{"count":1,"href":"https:\/\/baileyonlineclassroom.com\/subsaharanafricablog\/wp-json\/wp\/v2\/posts\/2104\/revisions"}],"predecessor-version":[{"id":2106,"href":"https:\/\/baileyonlineclassroom.com\/subsaharanafricablog\/wp-json\/wp\/v2\/posts\/2104\/revisions\/2106"}],"wp:attachment":[{"href":"https:\/\/baileyonlineclassroom.com\/subsaharanafricablog\/wp-json\/wp\/v2\/media?parent=2104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/subsaharanafricablog\/wp-json\/wp\/v2\/categories?post=2104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/subsaharanafricablog\/wp-json\/wp\/v2\/tags?post=2104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}