Zimbabwe recorded a trade surplus in February 2026, driven by strong export earnings that outpaced import expenditure, latest trade data revealed.
This marks the country’s fifth consecutive monthly trade surplus, its longest streak in years.
Exports for the month were valued at US$1.01 billion, comfortably exceeding imports of US$963.1 million, resulting in a positive trade balance of about US$46 million, according to the Zimbabwe National Statistics Agency.
The surplus reflects sustained growth in mineral and agricultural exports, which continue to anchor the country’s external sector performance.
Gold remained the dominant export, with semi-manufactured gold accounting for 45.7 percent of total exports.
Tobacco, partly or wholly stemmed or stripped, followed at 27.5 percent, while other mineral substances contributed nine percent.
Together, these three products made up more than four-fifths of Zimbabwe’s export earnings for the month, underscoring the economy’s heavy reliance on primary commodities.
Other notable export items included nickel ores and concentrates (3.8 percent), ferro-chromium (2.1 percent) and industrial diamonds (two percent).
Coke and semi-coke of coal, as well as platinum in unwrought or powder form, made smaller contributions.
Exports to the Southern African Development Community (SADC) were led by nickel ores and concentrates at 28.3 percent, followed by coke and semi-coke of coal (11.7 percent), industrial diamonds (10.1 percent) and iron and steel products (9.8 percent).
These four categories alone accounted for about 60 percent of export value to the regional bloc, which totalled US$130.6 million.
On the import side, Zimbabwe continued to weighed down heavily by fuel and capital goods.
Mineral fuels, mineral oils and related products accounted for the largest share at 18.6 percent of total imports.
Machinery and mechanical appliances followed at 14.9 percent, while electrical machinery and equipment made up 9.1 percent.
Food imports also featured prominently, with cereals accounting for 7.3 percent of the import bill, highlighting ongoing vulnerabilities in domestic food production. Vehicles (6.7 percent) and iron and steel products (5.7 percent) were also among the top imports.
Other imports included plastics and fertilisers (at 3.7 percent each), as well as miscellaneous chemical products and construction materials. – TML