BRUSSELS: Zimbabwe has registered a nearly five-fold increase in exports to the European Union to $153 million, latest trade figures from the International Trade Centre have shown.
The boost has been helped by diamond exports to Belgium and reengagement efforts between Harare and Brussels.
While the country continuing to have a trade deficit with the EU, imports on the other hand have been on a downward trend, dropping to $574 million last year from $1,75 billion in 2013 with fuel and machinery constituting the bulk.
Last year Zimbabwe held three diamond sales at the Antwerp World Diamond Centre (AWDC) in Belgium.
Figures obtained from the ITC, a joint agency of the World Trade Organisation and the United Nations, show that exports to the EU grew to $153 million in 2014 from $31 million the previous year, with exports of the unprocessed gems making up the bulk of the sales.
Pearls, precious stones, metals and coins accounted for $125 million of the exports. Raw hides and skins came a distant second, accounting for $12 million, followed by salt, sulphur, earth, stone, plaster, lime and cement which contributed $3 million.
Diamonds are produced by five mines in the Marange diamond fields to the east of the country, as well as Rio Tinto’s Murowa mine in south central Zimbabwe.
