Zimbabwe - Economy
How is the economy of Zimbabwe? Based on the information we have, Zimbabwe has a low income Sub-Saharan economy; political instability and endemic corruption have prevented reforms and stalled debt restructuring; new Zimbabwe Gold (ZiG) currency latest effort to combat ongoing hyperinflation; reliant on natural resource extraction, agriculture and remittances. Key agricultural products in this country include: sugarcane, maize, beef, milk, cassava, wheat, bananas, vegetables, tobacco, cotton (2022).
More about the economy of Zimbabwe
Labor force 6.561 million (2023 est.)
Industrial production growth rate 5.5% (2022 est.)
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
Population below poverty line 38.3% (2019 est.)
Taxes and other revenues 7.21% (of GDP) (2018 est.)
Fiscal year
Exchange rates
Currency Zimbabwean dollars (ZWD) per US dollar -
Exchange rates 2023 3,509.172 (2023 est.)
Exchange rates 2022 374.954 (2022 est.)
Exchange rates 2021 88.552 (2021 est.)
Exchange rates 2020 51.329 (2020 est.)
Exchange rates 2019 16.446 (2019 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2023 $115.53 million (2023 est.)
Reserves of foreign exchange and gold 2022 $598.622 million (2022 est.)
Reserves of foreign exchange and gold 2021 $838.78 million (2021 est.)
Current account balance
Current account balance 2020 $1.096 billion (2020 est.)
Current account balance 2019 $920.472 million (2019 est.)
Current account balance 2018 -$1.38 billion (2018 est.)
Public debt
Public debt 2017 82.3% of GDP (2017 est.)
Budget
Revenues $17 million (2018 est.)
Expenditures $23 million (2018 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 11.74% of GDP (2023 est.)
Remittances 2022 11.27% of GDP (2022 est.)
Remittances 2021 9.07% of GDP (2021 est.)
Household income
Lowest 10% 2.5% (2017 est.)
Highest 10% 34.8% (2017 est.)
Imports
Imports 2022 $10.126 billion (2022 est.)
Imports 2021 $7.964 billion (2021 est.)
Imports 2020 $5.489 billion (2020 est.)
Imports (partners) South Africa 39%, China 15%, Singapore 12%, UAE 6%, Mozambique 4% (2022)
Comodities Imports force refined petroleum, fertilizers, trucks, soybean oil, electricity (2022)
Exports
Imports 2022 $10.126 billion (2022 est.)
Imports 2021 $7.964 billion (2021 est.)
Imports 2020 $5.489 billion (2020 est.)
Exports (partners) UAE 57%, South Africa 17%, China 7%, Belgium 4%, Mozambique 2% (2022)
Comodities Exports force gold, nickel, tobacco, iron alloys, diamonds (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $58.583 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $55.817 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $52.399 billion (2021 est.)
GDP (official exchange rate) $26.538 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $3,500 (2023 est.)
Real GDP per capita 2022 $3,400 (2022 est.)
Real GDP per capita 2021 $3,300 (2021 est.)
GDP - composition, by sector of origin
Agriculture 27% (2023 est.)
Industry 46.9% (2023 est.)
Services 18.5% (2023 est.)
GDP - composition, by end use
Household consumption 77.7% (2022 est.)
Government consumption 16.7% (2022 est.)
Investment in fixed capital 11.3% (2022 est.)
Investment in inventories 3.3% (2022 est.)
Exports of goods and services 28% (2022 est.)
Imports of goods and services -37% (2022 est.)
Unemployment rate
Unemployment rate 2023 8.76% (2023 est.)
Unemployment rate 2022 10.09% (2022 est.)
Unemployment rate 2021 9.54% (2021 est.)
Youth unemployment rate (ages 15-24)
Total 14.3% (2023 est.)
Male 13.2% (2023 est.)
Female 15.6% (2023 est.)
All Important Facts about Zimbabwe

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Zimbabwe is found in Southern Africa