Zimbabwe’s fuel exports rose to 2.9% of merchandise exports in 2024.

Neither way is good in itself. A higher share means fuel carries more of the country's goods earnings, which brings greater exposure to fuel prices. A lower share means other products carry more of them. The latest figure is 2.9% of merchandise exports in 2024, up from 2.8% of merchandise exports a year earlier, a rise of 0.07 percentage points. Since 2015 the lowest reading was 0.58% of merchandise exports in 2016, and the highest is the current 2.9% of merchandise exports in 2024. The latest figure therefore sits at the top of its range for the period.

Why it matters. At 2.9% of merchandise exports, fuel supplies a small slice of Zimbabwe's goods earnings, so most export income depends on other products. Households and firms tied to those other export sectors therefore have more bearing on the country's foreign currency receipts than fuel producers do. For the state, a share this size makes fuel a minor source of export revenue, though it has grown from its 2016 low.