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Zimbabwe Economy 2011
https://theodora.com/wfb2011/zimbabwe/zimbabwe_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















Zimbabwe Economy 2011
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 13, 2011

Economy - overview:
The government of Zimbabwe faces a wide variety of difficult economic problems. Its 1998-2002 involvement in the war in the Democratic Republic of the Congo drained hundreds of millions of dollars from the economy. The government's land reform program, characterized by chaos and violence, has badly damaged the commercial farming sector, the traditional source of exports and foreign exchange and the provider of 400,000 jobs, turning Zimbabwe into a net importer of food products. The EU and the US provide food aid on humanitarian grounds. Until early 2009, the Reserve Bank of Zimbabwe routinely printed money to fund the budget deficit, causing hyperinflation. The power-sharing government formed in February 2009 has led to some economic improvements, including the cessation of hyperinflation by eliminating the use of the Zimbabwe dollar and removing price controls. The economy is registering its first growth in a decade, but will be reliant on further political improvement for greater growth.

GDP (purchasing power parity):
$4.395 billion (2010 est.)
country comparison to the world: 165

$4.223 billion (2009 est.)
$4.279 billion (2008 est.)
note: data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$5.574 billion
note: in 2009, the Zimbabwean dollar was taken out of circulation, making Zimbabwe's GDP at the official exchange rate a highly inaccurate statistic
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4.1% (2010 est.)
country comparison to the world: 79

-1.3% (2009 est.)
-14.4% (2008 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$400 (2010 est.)
country comparison to the world: 228

$400 (2009 est.)
$400 (2008 est.)
note: data are in 2010 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 19.5%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 24%
[see also: GDP - composition by sector - industry country ranks ]
services: 56.5% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
3.848 million (2009 est.)
country comparison to the world: 89
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 66%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 10%
[see also: Labor force - by occupation - industry country ranks ]
services: 24% (1996)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
95% (2009 est.)
country comparison to the world: 201

80% (2005 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
68% (2004)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 40.4% (1995)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
50.1 (2006)
country comparison to the world: 24

50.1 (1995)
[see also: Distribution of family income - Gini index country ranks ]

Investment (gross fixed):
21% of GDP (2009 est.)
country comparison to the world: 76
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $133 million
[see also: Budget - revenues country ranks ]
expenditures: $258 million (2008 est.)
[see also: Budget - expenditures country ranks ]

Public debt:
241.6% of GDP (2010 est.)
country comparison to the world: 1

282.6% of GDP (2009 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
5.03% (2010 est.)
country comparison to the world: 145

5.1% (2009 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
NA% (31 December 2009)
country comparison to the world: 1

975% (31 December 2007)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
NA% (31 December 2009 est.)
country comparison to the world: 1

578.96% (31 December 2007)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$NA (31 December 2009 est.)

$2.151 million (31 December 2008 est)
note: the money data for Zimbabwe for 2007 reflected the vastly overvalued official exchange rate of 30,000 Zimbabwe dollars per US dollar; at an unofficial rate of 800,000 Zimbabwe dollars per US dollar, the stock of Zimbabwe dollars, narrowly defined, would equal only about US$500 million and Zimbabwe's velocity of money (the number of times money turns over in the course of a year) would be nine, in line with the velocity of money for other countries in the region
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$3.057 million (31 December 2009 est.)

$NA (31 December 2009 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.186 million (31 December 2008 est.)
country comparison to the world: 186

$60 (31 December 2009 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA (31 December 2008)
country comparison to the world: 80

$5.333 billion (31 December 2007)
$26.56 billion (31 December 2006)
[see also: Market value of publicly traded shares country ranks ]

Agriculture - products:
corn, cotton, tobacco, wheat, coffee, sugarcane, peanuts; sheep, goats, pigs

Industries:
mining (coal, gold, platinum, copper, nickel, tin, clay, numerous metallic and nonmetallic ores), steel; wood products, cement, chemicals, fertilizer, clothing and footwear, foodstuffs, beverages

Industrial production growth rate:
4% (2009 est.)
country comparison to the world: 82
[see also: Industrial production growth rate country ranks ]

Electricity - production:
8.89 billion kWh (2007 est.)
country comparison to the world: 95
[see also: Electricity - production country ranks ]

Electricity - consumption:
10.89 billion kWh (2007 est.)
country comparison to the world: 84
[see also: Electricity - consumption country ranks ]

Electricity - exports:
32 million kWh (2007 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
2.691 billion kWh (2007 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
0 bbl/day (2009 est.)
country comparison to the world: 120
[see also: Oil - production country ranks ]

Oil - consumption:
11,000 bbl/day (2009 est.)
country comparison to the world: 148
[see also: Oil - consumption country ranks ]

Oil - exports:
0 bbl/day (2007 est.)
country comparison to the world: 165
[see also: Oil - exports country ranks ]

Oil - imports:
13,830 bbl/day (2007 est.)
country comparison to the world: 131
[see also: Oil - imports country ranks ]

Oil - proved reserves:
0 bbl (1 January 2010 est.)
country comparison to the world: 104
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
0 cu m (2008 est.)
country comparison to the world: 109
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
0 cu m (2008 est.)
country comparison to the world: 170
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
0 cu m (2008 est.)
country comparison to the world: 96
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
0 cu m (2008 est.)
country comparison to the world: 111
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
0 cu m (1 January 2010 est.)
country comparison to the world: 117
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
-$414.2 million (2010 est.)
country comparison to the world: 111

-$807.5 million (2009 est.)
[see also: Current account balance country ranks ]

Exports:
$1.869 billion (2010 est.)
country comparison to the world: 134

$1.213 billion (2009 est.)
[see also: Exports country ranks ]

Exports - commodities:
platinum, cotton, tobacco, gold, ferroalloys, textiles/clothing

Exports - partners:
Democratic Republic of the Congo 14.82%, South Africa 13.39%, Botswana 13.23%, China 7.82%, Zambia 7.3%, Netherlands 5.39%, UK 4.93% (2009)

Imports:
$2.871 billion (2010 est.)
country comparison to the world: 143

$2.413 billion (2009 est.)
[see also: Imports country ranks ]

Imports - commodities:
machinery and transport equipment, other manufactures, chemicals, fuels, food products

Imports - partners:
South Africa 62.24%, China 4.2% (2009)

Reserves of foreign exchange and gold:
$376 million (31 December 2010 est.)
country comparison to the world: 120

$351 million (31 December 2009 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$5.772 billion (31 December 2010 est.)
country comparison to the world: 100

$5.667 billion (31 December 2009 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$NA
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$NA
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Zimbabwean dollars (ZWD) per US dollar - 234.25 (2010), 234 (2008), 30,000 (2007), 162 (2006), 78 (2005)


NOTE: The information regarding Zimbabwe on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Zimbabwe Economy 2011 information contained here. All suggestions for corrections of any errors about Zimbabwe Economy 2011 should be addressed to the CIA.






This page was last modified 09-Feb-11
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