Source: Manhize steel, China zero tariffs drive Zim’s record US$7bn export boom – herald
Sunday Mail Reporter
A STRUCTURAL shift in Zimbabwe’s export profile, driven by the ramping up of industrial steel production at the Manhize steel plant and zero-tariff access to the Chinese market, pushed merchandise export earnings to a record US$7,36 billion during the first seven months of 2026.
According to trade data released by the national trade promotion body, ZimTrade, exports jumped 55,1 percent from US$4,75 billion recorded during the same period last year.
Crucially, export growth comfortably outstripped the 31,6 percent rise in imports, swinging Zimbabwe’s trade balance from a deficit of US$799,5 million to a surplus of US$65,6 million. While traditional minerals and unmanufactured tobacco continued to anchor overall revenues, the increase was, however, heavily driven by a growth of heavy industrial steel exports through Dinson Iron and Steel Company (Disco)’s plant in Manhize, as well as an expanding horticultural trade relationship with China under Beijing’s new zero-tariff regime.
Central to the growth of value-added manufacturing is the US$1,5 billion Disco steel facility at Manhize, near Mvuma.
The flagship investment has rapidly emerged as a key pillar for the country’s industrialisation, import substitution and regional market expansion.
Industrial engineering exports doubled, soaring 110,4 percent to US$143,3 million.
Within this category, hot-rolled iron and steel bars generated US$43,1 million in export value — where zero exports were recorded in the previous year — while forged bars leaped 339,1 percent to US$43,6 million and semi-finished iron products contributed US$33,2 million.
Industry experts note that the Manhize plant is not only saving the country an estimated US$500 million annually in steel import costs, but its Phase One capacity is positioning Zimbabwe as a major steel exporter across Sub-Saharan Africa.
By using local raw materials and processing slag for secondary industries like cement, the Manhize operation is transforming from a mere production site into an integrated industrial hub capable of anchoring national development aspirations.
Parallel to the industrial steel boom, Zimbabwe’s bilateral trade with China has emerged as another core driver of export revenues.
Overall exports to China surged by a remarkable 142,4 percent to reach US$1,44 billion, lifting China’s share of total national exports from 12,5 percent to 19,6 percent.
The main catalyst behind this rapid expansion is China’s zero-tariff policy for 53 African nations, which officially took effect on May 1, 2026.
Coupled with newly finalised bilateral phytosanitary protocols, the policy has unlocked the lucrative Chinese consumer market for Zimbabwean fresh produce, including citrus, avocados and blueberries.
As a direct result, horticulture exports returned to growth, climbing 6 percent to US$37 million.
Fresh fruit led the charge, with the category containing blueberries nearly doubling to US$8,5 million.
The sector’s direct access to duty-free trade in China is proving pivotal for rural development, offering higher profit margins for local growers and encouraging agro-processing investments.
Overall value-added exports jumped 55,7 percent to US$469,4 million, reflecting a broader structural move away from relying strictly on raw material extractions.
While mineral exports (US$6,12 billion) and tobacco (US$799,2 million across raw and manufactured lines) remain dominant revenue sources, the performance of steel manufacturing from Manhize and tariff-free agricultural exports to China demonstrates that economic diplomacy and domestic value addition are successfully opening new growth frontiers for Zimbabwe.
Writing for The Sunday Mail last week, ZimTrade’s chief executive officer Mr Allan Majuru said the performance points to strengthening external demand for Zimbabwean products while signalling early gains from efforts to expand value addition and diversify the country’s export basket.
“China posted the fastest growth among the three leading markets, with exports rising 142,4 percent to US$1,44 billion,” said Mr Majuru.
“Its share increased from 12,5 percent to 19,6 percent, with the trade outlook linking the increase to the newly introduced zero-tariff arrangement and stronger trade. The China performance is significant within the wider engagement and re-engagement agenda.”
Similarly, exports to the United Arab Emirates, which has evolved to become the country’s largest market, rose by 46,3 percent to US$3,36 billion, while those to South Africa increased by 54,5 percent to US$1,79 billion.
Growth in Zimbabwe’s steel exports, Mr Majuru added, offers an indication of what could happen if more minerals are processed locally before export.
The export figures, however, show that the country still needs to work on establishing a fully diversified export economy.
Minerals and alloys continued to dominate exports, rising by 58,2 percent to US$6,12 billion and accounting for the overwhelming bulk of total export earnings.
Gold exports increased by 46,7 percent to US$3,34 billion, nickel mattes rose by 60,6 percent to US$1,1 billion, while other mineral substances more than tripled to US$681,8 million.
Tobacco was another major earner, with unmanufactured tobacco exports rising by 37,2 percent to US$712,4 million.
Manufactured tobacco exports also increased by 25,3 percent to US$86,8 million, while other manufactured tobacco products rose by 55,6 percent to US$58 million.
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