The volume and value of trade between Zimbabwe and China have been experiencing significant growth, with key sectors such as machinery, manufacturing, and agriculture leading the way.
The trade between the two nations has risen dramatically from US$973 million in 2019 to US$1.7 billion in 2023, and has reached US$3 billion in the first nine months of 2024.
This growth is attributed to increased interest from Chinese companies in forming partnerships to supply machinery and various products to Zimbabwe. Along with the ongoing rise in trade in finished goods, machinery, and minerals, new opportunities are emerging in agricultural exports.
At the Zimbabwe-China Business Forum in Harare, ZimTrade CEO Mr. Allan Majuru shared the latest developments in trade between the two nations. He revealed that Zimbabwe and China have recently signed agreements to export citrus and avocados, with further agreements in the pipeline for other agricultural products such as chillies, sesame seeds, and blueberries.
“Zimbabwe’s blueberry exports have been exceptional, with an annual growth rate of 108% over the past five years, making it the highest growth rate in Southern Africa,” Mr. Majuru noted. Zimbabwe is now the second-largest exporter of blueberries in Southern Africa, following South Africa.
Additionally, Zimbabwe’s peas exports to Europe have gained traction, with the country ranking as the third-largest African exporter and seventh globally.
Chinese Ambassador to Zimbabwe, Zhou Ding, praised Zimbabwe’s resilience in the face of challenges such as illegal sanctions and climate-induced droughts, highlighting the country’s 5.3% economic growth rate in 2023 one of the highest in Southern Africa.
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Ambassador Ding also pointed out that Zimbabwe’s exports of various agricultural products and minerals grew by 10% year-on-year, reaching US$7.2 billion in 2023.
Mr. Majuru emphasized that ZimTrade is working to boost the production of high-value crops like nuts and coffee to expand Zimbabwe’s exports, particularly to China. He highlighted the potential for Chinese businesses to support Zimbabwean agriculture through technology transfer, mechanization, irrigation, and climate-smart agricultural practices.
Investments in sectors such as horticulture, including macadamia nuts, avocados, and citrus fruits, are expected to further strengthen Zimbabwe’s export portfolio, ensuring a steady supply of premium produce to China.
Ambassador Ding also spoke about the growing engagement of Chinese companies in Zimbabwe, particularly in areas like technology transfer, skills training, and talent acquisition, which are contributing to job creation and increased tax revenue.
“The trade volume between our two countries is growing rapidly, reaching US$3 billion in the first nine months of 2024 almost matching the total for 2023,” Ambassador Ding said. “Zimbabwe exported US$2.1 billion to China and imported US$951 million, resulting in a trade surplus of over US$1 billion.”
In a message delivered by Mrs. Rudo Faranisi, the Chief Director of Economic Cooperation, International Trade, and Diaspora, Minister of Foreign Affairs and International Trade, Professor Amon Murwira, affirmed that efforts are underway to facilitate the export of additional agricultural products to China. He also highlighted the potential for increased trade in horticultural products following the recent signing of the phytosanitary protocol for exporting avocados to China.
Professor Murwira emphasized Zimbabwe’s commitment to building a vibrant, open economy, and the importance of deepening economic cooperation with China as a strategic partner. He expressed optimism about the country’s transformation into a knowledge-driven, industrialized economy by 2030, which would benefit both nations and their people.