Zimbabwe’s foreign currency earnings up 14.9 pct in 2020: central bank

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HARARE, Feb. 19 (Xinhua) — Zimbabwe’s total foreign currency earnings for the year 2020 stood at 6.3 billion U.S. dollars, up 14.9 percent from 5.5 billion U.S. dollars recorded in 2019, Reserve Bank Governor John Mangudya said Thursday.

In his monetary policy statement for 2021, the governor said export proceeds contributed the bulk of the funds at 3.696 billion dollars, followed by Diaspora remittances with 1 billion dollars and loan proceeds which contributed 845.21 million dollars.

Mangudya said cumulative export shipments, including tourism and cross-border road freight as of Dec. 31, 2020, amounted to 4.7 billion dollars.

Of the export shipments, mining contributed the bulk of the shipments worth 3.3 billion dollars.

While platinum export earnings rose to 1.77 billion dollars last year from 1.21 billion in 2019, gold export earnings declined by 6 percent last year to 994.7 million dollars.

Gold is one of Zimbabwe’s major foreign currency earners, along with platinum and tobacco. Enditem

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