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 futher political improvement for greater growth.
GDP (purchasing power parity):
$332.1 million (2009 est.)
note: data are in 2009 US dollars
GDP (official exchange rate):
NA
note:
the Zimbabwean dollar was taken out of circulation, making Zimbabwe's GDP at the official exchange rate a highly inaccurate statistic (2009 est.)
GDP - real growth rate:
3.7% (2009 est.)
GDP - per capita (PPP):
$200 (2008 est.)
note: data are in 2009 US dollars
GDP - composition by sector:
agriculture: 19.1%
industry:
23.9%
services:
56.9% (2009 est.)
Labor force:
3.84 million (2009 est.)
Labor force - by occupation:
agriculture: 66%
industry:
10%
services:
24% (1996)
Unemployment rate:
95% (2009 est.); 80% (2005 est.)
Population below poverty line:
68% (2004)
Household income or consumption by percentage share:
lowest 10%: 2%
highest 10%:
40.4% (1995)
Distribution of family income - Gini index:
50.1 (2006)
Investment (gross fixed):
21.5% of GDP (2009 est.)
Budget:
revenues: $138 million
expenditures:
$258 million (2008 est.)
Public debt:
304.3% of GDP (2009 est.)
Inflation rate (consumer prices):
5.1% (2009 est.)
Central bank discount rate:
NA% (31 December 2008)
Commercial bank prime lending rate:
NA% (31 December 2008)
Stock of money:
$NA (31 December 2008)
note: this number reflects 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 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
Stock of quasi money:
$NA (31 December 2008)
Stock of domestic credit:
$NA (31 December 2008)
Market value of publicly traded shares:
$NA (31 December 2008)
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:
-2% (2009 est.)
Electricity - production:
8.89 billion kWh (2007 est.)
Electricity - consumption:
10.89 billion kWh (2007 est.)
Electricity - exports:
32 million kWh (2007 est.)
Electricity - imports:
2.691 billion kWh (2007 est.)
Oil - production:
0 bbl/day (2008 est.)
Oil - consumption:
13,000 bbl/day (2008 est.)
Oil - exports:
0 bbl/day (2007 est.)
Oil - imports:
13,830 bbl/day (2007 est.)
Oil - proved reserves:
0 bbl (1 January 2009 est.)
Natural gas - production:
0 cu m (2008 est.)
Natural gas - consumption:
0 cu m (2008 est.)
Natural gas - exports:
0 cu m (2008 est.)
Natural gas - imports:
0 cu m (2008 est.)
Natural gas - proved reserves:
0 cu m (1 January 2009 est.)
Current account balance:
$-597.4 million (2009 est.)
Exports:
$1.09 billion (2009 est.)
Exports - commodities:
platinum, cotton, tobacco, gold, ferroalloys, textiles/clothing
Exports - partners:
South Africa 32.1%, Democratic Republic of the Congo 9.7%, Botswana 8.7%, China 5.6%, Zambia 4.8%, Japan 4.5%, Italy 4.4%, US 4.3% (2008)
Imports:
$2.03 billion (2009 est.)
Imports - commodities:
machinery and transport equipment, other manufactures, chemicals, fuels
Imports - partners:
South Africa 60.1%, China 4.2%, Botswana 3.7% (2008)
Reserves of foreign exchange and gold:
$111 million (31 December 2009 est.)
Debt - external:
$5.821 billion (31 December 2009 est.)
Stock of direct foreign investment - at home:
$NA
Stock of direct foreign investment - abroad:
$NA
Exchange rates:
Zimbabwean dollars (ZWD) per US dollar - 234.25 (2009), (2008), 30,000 (2007), 162.07 (2006), 77.965 (2005)
note:
these are official exchange rates; non-official rates vary significantly
NOTE: The information regarding Zimbabwe on this page is re-published from the 2010 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Zimbabwe Economy 2010 information contained here. All suggestions for corrections of any errors about Zimbabwe Economy 2010 should be addressed to the CIA.
- Main Index
- 2010 Index
- Country Ranks
- Definitions
- Zimbabwe Main Index
- Zimbabwe Index 2010
- Introduction
- History
- Geography
- Maps
- People
- Religion
- Government
- Gov. Leaders
- Flags
- Economy
- Communications
- Transportation
- Airport Codes
- Military
- Transnational Issues
- Photos
- Advertise Here
- Feedback
This page was last modified 09-Feb-10