Find all the Details on Economy of Zimbabwe

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Economy of Zimbabwe

The Industrial Development Policy aims at establishing Zimbabwe as a major producer of industrial goods and services within the region.

The Policy focuses on attracting both domestic and foreign investment. There will be an accelerated implementation of infrastructure related projects and increased employment opportunities resulting in endogenous and balanced development countrywide. The main emphasis will be on the manufacturing sector, particularly, agro-processing, mineral processing, textiles and clothing, leather and leather products, motor industry, wood and furniture, jewellery, electronics, and other down stream industries.

 

The Economy of Zimbabwe

 
 
 

Harare

View of Harare.  The Capital of Zimbabwe matches most of European cities

 

The Capital of Zimbabwe matches most of European cities. The city was laid out with large open spaces like the 68ha National Botanic Garden with more than 900 species of wild trees and shrubs from all over the country.

 

Life in Harare

Harare had long been a city in motion. Corners were crammed with men offering fruit or cigarettes, restaurants were busy and plentiful, shops were well-stocked. And only the foolhardy would dare cross the traffic-clogged streets of Harare without the assistance of a green light.

 

 

Map of Zimbabwe

Map of Zimbabwe. Can you find Harare?

Above is the Map of Zimbabwe. Can you locate Harare?

 

GDP:

purchasing power parity - $24.03 billion (2003 est.)

GDP - real growth rate:

-13.6% (2003 est.)

GDP - per capita:

purchasing power parity - $1,900 (2003 est.)

GDP - composition by sector:

agriculture: 17.3%
industry: 24.5%
services: 58.3% (2003)

Investment (gross fixed):

8.9% of GDP (2003)

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% (2003 est.)

Labor force:

4.17 million (2003 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 (2003)

Public debt:

41.3% of GDP (2003)

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% (2003 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)

Current account balance:

$-346 million (2003)

Exports:

$1.261 billion f.o.b. (2003 est.)

Exports - commodities:

tobacco, gold, ferroalloys, textiles/clothing

Exports - partners:

South Africa 6.4%, China 5.6%, Germany 4.9%, Japan 4.7% (2003 est.)

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 est.)

Reserves of foreign exchange & gold:

$78 million (2003)

Debt - external:

$3.404 billion (2003 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

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