Economy Of Zimbabwe
|
Economy overview
|
The government of Zimbabwe faces a wide variety of difficult economic problems as it struggles with an unsustainable fiscal deficit, an overvalued exchange rate, soaring inflation, and bare shelves. Its 1998-2002 involvement in the war in the Democratic Republic of the Congo, for example, drained hundreds of millions of dollars from the economy. Badly needed support from the IMF has been suspended because of the country's failure to meet budgetary goals. Inflation rose from an annual rate of 32% in 1998 to 383% in 2003, and is expected to reach 700% in 2004. 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.
|
|
GDP
|
purchasing power parity - $24.03 billion (2004 est.)
|
|
GDP - real growth rate
|
-13.6% (2004 est.)
|
|
GDP - per capita
|
purchasing power parity - $1,900 (2004 est.)
|
|
GDP - composition by sector
|
agriculture: 17.3%
industry: 24.5%
services: 58.3% (2004 est.)
|
|
Investment gross fixed
|
8.9% of GDP (2004 est.)
|
|
Population below poverty line
|
70% (2002 est.)
|
|
Household income or consumption by percentage share
|
lowest 10%: 1.97%
highest 10%: 40.42% (1995)
|
|
Distribution of family income - Gini index
|
50.1 (1995)
|
|
Inflation rate consumer prices
|
384.7% (2004 est.)
|
|
Labor force
|
4.17 million (2004 est.)
|
|
Labor force by occupation
|
agriculture 66%, industry 10%, services 24% (1996)
|
|
Unemployment rate
|
70% (2002 est.)
|
|
Budget
|
revenues: $1.568 billion
expenditures: $2.004 billion, including capital expenditures of NA (2004 est.)
|
|
Public debt
|
41.3% of GDP (2004 est.)
|
|
Agriculture products
|
corn, cotton, wheat, coffee, sugarcane, peanuts; sheep, goats, pigs
|
|
Industries
|
mining (coal, gold, copper, nickel, tin, clay, numerous metallic and nonmetallic ores), steel, wood products, cement, chemicals, fertilizer, clothing and footwear, foodstuffs, beverages
|
|
Industrial production growth rate
|
-14.7% (2004 est.)
|
|
Electricity production
|
6.735 billion kWh (2001)
|
|
Electricity production by source
|
fossil fuel: 47%
hydro: 53%
other: 0% (2001)
nuclear: 0%
|
|
Electricity consumption
|
9.813 billion kWh (2001)
|
|
Electricity exports
|
0 kWh (2001)
|
|
Electricity imports
|
3.55 billion kWh (2001)
|
|
Oil production
|
0 bbl/day (2001 est.)
|
|
Oil consumption
|
23,000 bbl/day (2001 est.)
|
|
Oil exports
|
NA (2001)
|
|
Oil imports
|
NA (2001)
|
|
Oil proved reserves
|
|
|
Natural gas production
|
|
|
Natural gas consumption
|
|
|
Natural gas exports
|
|
|
Natural gas imports
|
|
|
Natural gas proved reserves
|
|
|
Current account balance
|
$-346 million (2004 est.)
|
|
Exports
|
$1.261 billion f.o.b. (2004 est.)
|
|
Exports commodities
|
tobacco, gold, ferroalloys, textiles/clothing
|
|
Exports partners
|
Zambia 6.3%, South Africa 6.1%, China 5.3%, Germany 4.6%, Japan 4.4% (2003)
|
|
Imports
|
$1.691 billion f.o.b. (2003 est.)
|
|
Imports commodities
|
machinery and transport equipment, other manufactures, chemicals, fuels
|
|
Imports partners
|
South Africa 51.3%, Congo, Democratic Republic of the 6.1%, Germany 2.8% (2003)
|
|
Reserves of foreign exchange gold
|
$78 million (2004 est.)
|
|
Debt external
|
$3.404 billion (2004 est.)
|
|
Economic aid recipient
|
$178 million; note - the EU and the US provide food aid on humanitarian grounds (2000 est.)
|
|
Currency
|
Zimbabwean dollar (ZWD)
|
|
Currency code
|
ZWD
|
|
Exchange rates
|
Zimbabwean dollars per US dollar - NA (2003), 55.0358 (2002), 55.0521 (2001), 44.4179 (2000), 38.3012 (1999); note - these are official exchange rates, non-official rates vary significantly
|
|
Fiscal year
|
1 January - 31 December
|
Applied Language Solutions offer English Translation , English to Shona Translation , English to Sindebele Translation .
This information was reproduced in part from the CIA World Fact book.
Flags
If you would like to use this flag of Zimbabwe or any other on your website you are welcome to do so, all we ask is that you include a link back to our site on the same page. Please click here for information.
Map
If you would like to use this map of Zimbabwe or any other on your website you are welcome to do so, all we ask is that you include a link back to our site on the same page. Please click here for information.
Country Information
If you would like to use this information for Zimbabwe or any other on your website you are welcome to do so, all we ask is that you include a link back to our site on the same page. Please click here for information.