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Zimbabwe Economy 2016
https://theodora.com/wfbcurrent/zimbabwe/zimbabwe_economy.html
SOURCE: 2016 CIA WORLD FACTBOOK AND OTHER SOURCES











Zimbabwe Economy 2016
SOURCE: 2016 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 11, 2016

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 from 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 International Monetary Fund 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):
$27.92 billion (2015 est.) $27.52 billion (2014 est.) $26.66 billion (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 132
[see also: GDP country ranks ]

GDP (official exchange rate):
$13.91 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1.4% (2015 est.) 3.3% (2014 est.) 4.5% (2013 est.)
country comparison to the world: 163
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$2,100 (2015 est.) $2,100 (2014 est.) $2,000 (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 200
[see also: GDP - per capita country ranks ]

Gross national saving:
-10.1% of GDP (2015 est.) -8.9% of GDP (2014 est.) -12.5% of GDP (2013 est.)
country comparison to the world: 178
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 68.9%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 32.2%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 22.5%
[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: 68.8%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -92.3% (2015 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 20%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 26%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 53.3% (2015 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:
4.2% (2015 est.)
country comparison to the world: 51
[see also: Industrial production growth rate country ranks ]

Labor force:
5.777 million (2015 est.)
country comparison to the world: 70
[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: 207
[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: 22
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $3.732 billion
[see also: Budget revenues country ranks ]
expenditures: $4.615 billion (2014)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
26.8% of GDP (2014)
country comparison to the world: 107
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-6.4% of GDP (2014)
country comparison to the world: 187
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
205.3% of GDP (2015 est.) 184.1% of GDP (2014 est.)
country comparison to the world: 2
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
0.1% (2015 est.) 1.63% (2014 est.)
country comparison to the world: 41
[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: 43
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
18% (31 December 2015 est.) 22% (31 December 2014 est.)
country comparison to the world: 20
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$76.2 billion (31 December 2015 est.) $41.3 billion (31 December 2014 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 have been the most frequently used currencies; there are no reliable estimates of the amount of foreign currency circulating in Zimbabwe
country comparison to the world: 41
[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: 70
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$9.902 billion (31 December 2015 est.) $9.474 billion (31 December 2014 est.)
country comparison to the world: 103
[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) $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:
-$3.187 billion (2015 est.) -$3.046 billion (2014 est.)
country comparison to the world: 161
[see also: Current account balance country ranks ]

Exports:
$3.301 billion (2015 est.) $3.263 billion (2014 est.)
country comparison to the world: 125
[see also: Exports country ranks ]

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

Exports - partners:
China 27.8%, Democratic Republic of the Congo 12.3%, Botswana 11%, South Africa 6.8%, Belgium 4.4%, Zambia 4.1% (2014)

Imports:
$5.207 billion (2015 est.) $5.135 billion (2014 est.)
country comparison to the world: 121
[see also: Imports country ranks ]

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

Imports - partners:
South Africa 49.7%, China 8.8%, Zambia 5.5%, India 4.3% (2014)

Reserves of foreign exchange and gold:
$457 million (31 December 2015 est.) $448 million (31 December 2014 est.)
country comparison to the world: 152
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$9.13 billion (31 December 2014 est.) $8.193 billion (31 December 2013 est.)
country comparison to the world: 109
[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 - NA (2013) 234.25 (2010) 234.25 (2009) 9,686.8 (2007)
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 2016 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Zimbabwe Economy 2016 information contained here. All suggestions for corrections of any errors about Zimbabwe Economy 2016 should be addressed to the CIA.




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