\n This is in sharp contrast to headlines that suggest that the country is on a recovery path, primarily fueled by a growing revenue base and the introduction of a gold-backed currency, simply referred to as ZiG.\n <\/p>\n
\n The exchange\u2019s benchmark index jumped 45%, increasing its market capitalisation to $1.8 billion by the end of September.\n <\/p>\n
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\n Currently, as disclosed by Mrs. Tafadzwa Bandama, Director General of the Zimbabwe Statistical Agency, another factor contributing to the recovery of Zimbabwe\u2019s economy is a narrowing gap in the country\u2019s trade deficit.\n <\/p>\n
\n \u201cThe fact that exports increased significantly, without a big rise in imports, suggests that Zimbabwe is earning more in foreign currency, which leads to foreign currency reserve accumulation for the country,\u201d she revealed in the African Current podcast<\/a>, by Sputnik.\n <\/p>\n \n She also added that primary industries such as mining and agriculture were responsible for a surge in the commodities the country exported in recent months.\n <\/p>\n \n Referencing the trade deficit in July, she noted that the month was particularly pivotal for the country\u2019s improved trade deficit.\n <\/p>\n \n July\u2019s trade deficit for the Southern African nation dropped by 94.5 percent to just US$8.7 million, as sen on The Herald<\/a>.\n <\/p>\n \n According to the country’s statistics department, exports increased 22.9 percent in August, increasing the country’s foreign exchange reserves to $900 million.\n <\/p>\n