Zimbabwe

Zimbabwe

Ayan Acharya
Ayan Acharya

Country Expert
   

Zimbabwe Statistics

In 2018 Zimbabwe was the number 100 economy in the world in terms of GDP (current US$). The economy of Zimbabwe is mainly made of tertiary industry which makes up to 60% of the total GDP as of 2017. Zimbabwe has the second biggest informal economy as a share of its economy which has a score of 60.6%
Zimbabwe has one of Africa’s highest literacy rates at over 90%. The population is usually better educated than the African average, making the people one of the greatest assets of the country.
$ 1 Crores
GDP in USD trillion
1 Crores
Population (2019)
1
Area ( km. sq. )
Import Of Zimbabwe

In 2018 Zimbabwe imported a total of $5.99B, making it the number 122nd trade destination in the world.
Main Import Countries

Export Of Zimbabwe

In 2018 Zimbabwe exported a total of $4.46B, making it the number 115th exporter in the world.
Main Export Countries

Major Sectors

Mining Agriculture Manufacturing Energy Tourism

The Mining Business of Zimbabwe is under the control of the relevant government institutions such as the Ministry of Mines and Mining Development. As is the case with several nations in southern Africa, the nation is endowed with soils that contain materials and minerals such as platinum, iron ore, gold, diamonds, and coal. In fact, the recently discovered Marange diamond fields, which were discovered in 2006, are believed by many to be the richest in the globe. Other deposits also exist, such as copper and nickel, but in considerably smaller amounts.
Looking at the data on gold production, the amount of gold produced was a massive 59,776 pounds. The amount dropped to 15,469 pounds in 2007 then shot back up to about 40,565 pounds in 2015. As of 2014, the largest gold mining group is the Metallon Corporation. The drop in the mining of gold in 2007 can be attributed to the detrimental effects of Zimbabwe’s participation in the war in the Democratic Republic of Congo between 1998 and 2002.
The Marange field produced an estimated 12 million carats of diamond in 2014, which were worth more than $350 million. Fiscal studies into the potential of the field have shown that it has the potential to improve considerably Zimbabwe’s economic situation if the corruption stops. In 2013, the estimated total of all the mineral exports from the nation was $1.8 billion.

Commercial farming consists of growing cotton coffee, various fruits, peanuts, and tobacco while small-scale farmers mostly grow wheat and maize.
The Tobacco Production improved greatly after 2008 due to several interventions. One of the interventions came from international companies such as China Tobacco and British American Tobacco. These two firms gave out plenty of loans, equipment, and expertise to the people of Zimbabwe. The intervention saw the production recover to a colossal 217,000 tonnes, which was the third highest tobacco production of all time. Today, the once-large swathes of land have been replaced by smaller pieces of land that export the biggest percentage of their produce to the Chinese market.

The 2018 manufacturing survey released by the Confederation of Zimbabwe Industries (CZI) generally shows that resuscitating the sector is a challenge which government is likely to continue to be preoccupied with into the near future. Output growth, which had shown an upward trend in 2017 compared to 2016, appears to have plateaued as 2018 began to be characterized by low growth rates (Figure 9). It is only three subsectors (non-metallic products; drinks, tobacco and beverages; and chemicals and petroleum products) out of the eight that registered higher growth rates in 2018 compared to 2017. On the overall the manufacturing sector increased by about 12 percent, apparently pulled up by these three subsectors.

The Zimbabwe Electrical Supply Authority is tasked with regulating and controlling the distribution and supply of power to the nation. The nation’s energy is mainly produced from two large facilities. One of them is at the Kariba Dam along the Zambezi River while the other is the Hwange Thermal Power Station, which is next to the coal field at Hwange. Despite having these massive production stations, the nation does not meet the power demands. Consequently, this means that the nation is prone to power rationing from time to time.
The problems are further compounded by the age and neglect of the Hwange station. As such, it is unable to operate and produce electricity at full capacity. For these reasons, the nation was forced to import about 40% of its power in 2006 from the Democratic Republic of Congo (100 megawatts), Mozambique (200 megawatts), Zambia (300 megawatts), and South Africa (450 megawatts). In addition, the citizens are forced to use small generators all over the country. To put the dire situation in perspective, Zimbabwe was able to produce only 940 MW in May 2010 while the nation’s needs stood at 2500 MW.

On 22 January 2019, Zimbabwe’s Ministry of Environment, Tourism and Hospitality Industry in collaboration with a Chinese company -Touch Road International Holdings Group (TRIHG) and Ethiopian Airlines launched a new tourism package known as Tour Africa – New Horizon Project Zimbabwe Chapter. The package emanates from a Memorandum of Understanding that was signed between the Ministry of Environment and TRIHG in China during the first state visit by President Emmerson Mnangagwa in May, 2018. It is implemented under China’s Belt and Road Initiative.
The Ministry’s thrust is to raise awareness about the tourism facilities that exists for both local and foreign tourists. Thus, the package is meant to ensure that Zimbabwe’s tourism is marketed globally and will go a long way towards improving the country’s image. This newly launched package is therefore challenging local tourism industry players to spruce up their products in line with the new demands and tastes of the tourists.

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Latest News

Trade Fair Exhibition

zimbabwe transport expo
Mining, Engineering & Transport Expo (MINE ENTRA)

Date : 24-07 July 2020.
Place : Bulawayo, Zimbabwe.

zimbabwe tourism expo
Sanganai / Hlanganani World Tourism Expo

Date : 19-09 Sept 2020.
Place : Bulawayo, Zimbabwe.

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