Mineral exports slump hits Zim

The country suffered a slump in its major mineral exports in the first nine months of 2014 with latest figures showing that diamond and platinum exports plunged by 29,36% and 2,21% respectively compared to the same period in 2013.

Zimbabwe’s diamond exports decreased by 29,36% to US$175 million from January to September 2014 compared to US$247 million exported during the same period in 2013, according to the African Development Bank (AfDB)’s Zimbabwe monthly economic review for October.

AfDB said unsorted diamonds worth about US$173 million were exported from January to September 2014, compared to US$80 million exported during the same period in 2013.

Cumulative exports for non-industrial diamonds stood at US$1,8 million from January to September 2014, compared to US$167 million exported during the same period in 2013.

“The huge discrepancy on the exports in non-industrial diamonds in 2013 and 2014 is explained by the fact that the 2014 figures of non-industrial diamonds exports from Zimstat (Zimbabwe National Statistics Agency) show that it was only in the month of February that exports were made, with nothing exported for the rest of the period,” reads the report.

AfDB said cumulative exports for platinum unwrought or in powder form decreased by 2,21% to US$102 million from January to September 2014 compared to the same period in 2013.

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