Zimbabwe’s Gold Export Earnings Surge 72% to USD 3.1 bn in First Half of 2026

Mon Sep 21 2026

Zimbabwe recorded a significant increase in gold export earnings during the first half of 2026, generating approximately USD 3.1 billion from gold exports, according to official figures from the Reserve Bank of Zimbabwe (RBZ). The figure represents a 72.2 percent increase compared with the USD 1.8 billion earned during the corresponding period in 2025.

The strong performance highlights the continued importance of gold to Zimbabwe’s export sector and foreign-currency earnings. The increase was supported by higher gold production, strong deliveries from miners and favourable international bullion prices.

Gold export revenues remained above the previous year’s levels throughout the six-month period. In January 2026, the country earned USD 498.3 million, compared with USD 296.8 million in January 2025. February recorded another substantial increase, with receipts reaching USD 549 million, up from USD219.9 million a year earlier. In March, gold exports generated USD 406.1 million, compared with USD 244.2 million in March 2025. April earnings also increased significantly, reaching approximately USD 528 million, against USD 307.1 million recorded during the same month last year.

The upward trend continued into May, when Zimbabwe earned US$503.3 million from gold exports, compared with USD 373.3 million in May 2025. June delivered the strongest monthly performance during the first half of 2026, with gold export receipts climbing to USD 597.1 million. This was substantially higher than the USD 394.2 million recorded in June 2025.

The increase in export receipts reflects a combination of higher gold production volumes and favourable international gold prices, which have helped strengthen the value of Zimbabwe’s bullion exports. During the six-month period, total gold deliveries to Fidelity Gold Refinery, Zimbabwe’s sole authorised gold buyer, amounted to 21.39 tonnes. The figures underline the continued contribution of the country’s mining sector to export earnings.

Artisanal and small-scale miners played a particularly important role, accounting for more than 70 percent of total gold deliveries to Fidelity Gold Refinery during the first half of the year. Their contribution demonstrates the significant role of smaller-scale mining operations in Zimbabwe’s gold production and foreign-currency generation.

Source: https://trendsnafrica.com