Zimbabwe’s trade surplus surged by 34.1% to reach US$320.6 million in July 2026, up from US$239.1 million recorded in June 2026, according to the latest data from the Zimbabwe National Statistics Agency (ZimStat).

The country’s exports amounted to US$1.47 billion in July 2026, an increase of 1.9% from the June 2026 value of US$1.44 billion.

ZimStat said imports for the month totalled US$1.15 billion, which was 4.5% less than the June 2026 imports of US$1.20 billion.

Extractive industry products dominated the country’s export basket during the month, with semi-manufactured gold leading at 34.1% of total export value.

Unspecified mineral substances accounted for 21.7%, while nickel mattes comprised 13.5%. Other notable exports included nickel ores and concentrates at 8.2%, partly or wholly stemmed tobacco at 3.9%, and ferro-chromium at 2.2%.

The United Arab Emirates emerged as Zimbabwe’s primary export destination in July 2026, absorbing US$535.2 million worth of goods.

China followed as the second-largest destination with US$466.8 million, while South Africa accounted for US$316.4 million.

Together, ZimStat said these three trading partners accounted for approximately 90% of the total export value for the month.

On the import side, ZimStat said mineral fuels and oil products represented the single largest category, accounting for 22.5% of the total import bill.

Capital goods and industrial inputs also featured heavily, with machinery and mechanical appliances constituting 14.5%, vehicles representing 6.5%, and electrical machinery and equipment comprising 6.4%. Iron and steel products made up 5.0%, while fertilisers accounted for 4.4% of total imports.

South Africa maintained its position as Zimbabwe’s major source of imports, supplying US$398.6 million worth of goods in July 2026.

Imports from China stood at US$221.1 million, followed by Bahrain at US$76.2 million and Mozambique at US$51.2 million.

Collectively, these four source markets supplied 65% of the country’s total imports during the review period.

Regional trade patterns showed that nickel mattes dominated exports to the Southern African Development Community (SADC) and the African Continental Free Trade Area (AfCFTA), accounting for 53.6% and 53.3% of shipments to those respective markets.

For trade with the Common Market for Eastern and Southern Africa (COMESA), iron and steel products formed the leading export category at 30.6%.

Exports to the European Union (EU) totaled US$36.0 million, anchored predominantly by partly or wholly stemmed tobacco at 48% and ferro-chromium at 34.4%.