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Zimbabwe Economy 2017
http://www.theodora.com/wfbcurrent/zimbabwe/zimbabwe_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Zimbabwe Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Zimbabwe's economy depends heavily on its mining and agriculture sectors. Following a decade of contraction from 1998 to 2008, the economy recorded real growth of more than 10% per year in the period 2010-13, before slowing to roughly 3% in 2014 due to poor harvests, low diamond revenues, and decreased investment. Lower mineral prices, infrastructure and regulatory deficiencies, a poor investment climate, a large public and external debt burden, and extremely high government wage expenses impede the country’s economic performance.Until early 2009, the Reserve Bank of Zimbabwe (RBZ) routinely printed money to fund the budget deficit, causing hyperinflation. Dollarization in early 2009 - which allowed currencies such as the Botswana pula, the South Africa rand, and the US dollar to be used locally - ended hyperinflation and reduced inflation below 10% per year. The RBZ introduced bond coins denominated in 1, 5, 10, and 25 cent increments on a par with the US dollar in December 2014, more than five years after the Zimbabwe dollar was taken out of circulation. In January 2015, as part of the government’s effort to boost trade and attract foreign investment, the RBZ announced that the Chinese renmimbi, Indian rupee, Australian dollar, and Japanese yen would be accepted as legal tender in Zimbabwe.Zimbabwe’s government entered a second Staff Monitored Program with the IMF in 2014 and undertook other measures to reengage with international financial institutions. Foreign and domestic investment continues to be hindered by the lack of clarity regarding the government’s Indigenization and Economic Empowerment Act. In 2015 the depreciation of the South African rand against the US dollar has led to deflation in Zimbabwe as prices for South African imports decline while the costs of domestic production in US dollars remains stable.

GDP (purchasing power parity):
$28.33 billion (2016 est.) $28.41 billion (2015 est.) $28.11 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 134
[see also: GDP country ranks ]

GDP (official exchange rate):
$14.19 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
-0.3% (2016 est.) 1.1% (2015 est.) 3.9% (2014 est.)
country comparison to the world: 199
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$2,000 (2016 est.) $2,000 (2015 est.) $2,000 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 204
[see also: GDP - per capita country ranks ]

Gross national saving:
7.3% of GDP (2016 est.) 1.3% of GDP (2015 est.) -2.3% of GDP (2014 est.)
country comparison to the world: 162
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 83.7%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 25.4%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 13.2%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -0.1%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 24.4%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -46.6% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 12.2%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 28.4%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 59.4% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

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

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

Industrial production growth rate:
-3% (2016 est.)
country comparison to the world: 190
[see also: Industrial production growth rate country ranks ]

Labor force:
8.098 million (2016 est.)
country comparison to the world: 60
[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.) 80% (2005 est.)
note: figures include unemployment and underemployment; true unemployment is unknown and, under current economic conditions, unknowable
country comparison to the world: 208
[see also: Unemployment rate country ranks ]

Population below poverty line:
72.3% (2012 est.)
[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) 50.1 (1995)
country comparison to the world: 21
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $3.4 billion
[see also: Budget revenues country ranks ]
expenditures: $3.9 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
24% of GDP (2016 est.)
country comparison to the world: 125
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3.5% of GDP (2016 est.)
country comparison to the world: 120
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
45.4% of GDP (2016 est.) 44.7% of GDP (2015 est.)
country comparison to the world: 101
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
1.6% (2016 est.) -2.4% (2015 est.)
country comparison to the world: 95
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
7.17% (31 December 2010) 975% (31 December 2007)
country comparison to the world: 44
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
20% (31 December 2016 est.) 18% (31 December 2015 est.)
country comparison to the world: 18
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$2.13 billion (31 December 2016 est.) $2.112 billion (31 December 2015 est.)
note: Zimbabwe's central bank no longer publishes data on monetary aggregates, except for bank deposits, which amounted to $2.1 billion in November 2010; the Zimbabwe dollar stopped circulating in early 2009; since then, the US dollar and South African rand hav
country comparison to the world: 128
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$47.64 billion (31 December 2013 est.) $101.1 billion (31 December 2014 est.)
country comparison to the world: 68
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$5.055 billion (31 December 2016 est.) $5.013 billion (31 December 2015 est.)
country comparison to the world: 123
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$4.073 billion (13 April 2015 est.) $11.82 billion (31 December 2012 est.) $10.9 billion (31 December 2011 est.)
country comparison to the world: 89
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$1.069 billion (2016 est.) -$1.52 billion (2015 est.)
country comparison to the world: 126
[see also: Current account balance country ranks ]

Exports:
$3.257 billion (2016 est.) $3.551 billion (2015 est.)
country comparison to the world: 120
[see also: Exports country ranks ]

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

Exports - partners:
China 27.8%, Democratic Republic of the Congo 14%, Botswana 12.5%, South Africa 7.6% (2015)

Imports:
$5.738 billion (2016 est.) $6.016 billion (2015 est.)
country comparison to the world: 118
[see also: Imports country ranks ]

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

Imports - partners:
South Africa 48.1%, China 12.1%, India 5.2%, Zambia 4.6% (2015)

Reserves of foreign exchange and gold:
$326.3 million (31 December 2016 est.) $339.1 million (31 December 2015 est.)
country comparison to the world: 156
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$10.9 billion (31 December 2016 est.) $10.56 billion (31 December 2015 est.)
country comparison to the world: 108
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$3.413 billion (31 December 2016 est.)
country comparison to the world: 105
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$252.1 million (31 December 2016 est.)
country comparison to the world: 95
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Zimbabwean dollars (ZWD) per US dollar - 1 (2016 est.) NA (2013) 234.25 (2010)
note: the dollar was adopted as a legal currency in 2009; since then the Zimbabwean dollar has experienced hyperinflation and is essentially worthless

NOTE: The information regarding Zimbabwe on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Zimbabwe Economy 2017 information contained here. All suggestions for corrections of any errors about Zimbabwe Economy 2017 should be addressed to the CIA.




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