Video PlayerClose HARARE, Oct. 30 (Xinhua) — Zimbabwe managed to reduce its trade deficit last month compared to the previous month by about 14 million U.S. dollars as it seeks to address the widening gap that has left the country reeling from foreign currency shortages for years now. According to data released by the Zimbabwe National Statistics Agency on Wednesday, the country in last month exported goods worth about 378.4 million U.S. dollars against imports of some 403.7 million dollars, thereby incurring a deficit of 25.3 million dollars. This was a reduction from a trade deficit of nearly 39 million dollars recorded in August after the country imported goods worth 384.4 million dollars against exports of 345.5 million dollars. Zimbabwe exports a variety of goods that include agricultural produce, minerals and cultural artifacts to various destinations that include China and the United States. Zimbabwe has for long battled a widening trade deficit due to reduced production owing to a myriad of challenges that include lack of capital, obsolete technology and high cost of production.
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