Zimbabwe Trade Data Offer Glimmer of Hope to Beleaguered Economy

Zimbabwe recorded its fourth straight trade monthly surplus in November as Finance Minister Mthuli Ncube’s steps to devalue and stabilize the local currency started showing some positive results for exports.

Shipments rose 20% to $528.9 million in November, thanks to increased manufacturing and higher gold, tobacco and nickel sales.

The government started regular foreign-currency auctions in June to support the Zimbabwe dollar as part of an economic stabilization program. That’s placed the local currency on a more even keel, trading at just over 80 Zimbabwe dollars to the greenback since August.

Read more: Zimbabwe’s Maligned Dollar Catches Break on ...