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Economic overview
Zimbabwe — 37 years of data
Historical Values
| Year | Value |
|---|---|
| 1990 | Agriculture employs a majority of the labor force and supplies almost 40% of exports. The agro-based manufacturing sector produces a variety of goods and contributes about 25% to GDP. Mining accounts for only 5% of both GDP and employment, but supplies of minerals and metals account for about 40% of exports. Wide year-to-year fluctuations in agricultural production over the past six years resulted in not only an uneven growth rate, but one that did not equal the 3% annual increase in population. |
| 1991 | Agriculture employs three-fourths of the labor force and supplies almost 40% of exports. The manufacturing sector, based on agriculture and mining, produces a variety of goods and contributes 35% to GDP. Mining accounts for only 5% of both GDP and employment, but supplies of minerals and metals account for about 40% of exports. Wide year-to-year fluctuations in agricultural production over the past six years have resulted in an uneven growth rate, one that on average matched the 3% annual increa |
| 1992 | Agriculture employs three-fourths of the labor force and supplies almost 40% of exports. The manufacturing sector, based on agriculture and mining, produces a variety of goods and contributes 35% to GDP. Mining accounts for only 5% of both GDP and employment, but supplies of minerals and metals account for about 40% of exports. Wide year-to-year fluctuations in agricultural production over the past six years have resulted in an uneven growth rate, one that on average has matched the 3% annual in |
| 1993 | Agriculture employs three-fourths of the labor force and supplies almost 40% of exports. The manufacturing sector, based on agriculture and mining, produces a variety of goods and contributes 35% to GDP. Mining accounts for only 5% of both GDP and employment, but supplies of minerals and metals account for about 40% of exports. Wide fluctuations in agricultural production over the past six years have resulted in an uneven growth rate, one that on average has matched the 3% annual increase in pop |
| 1994 | Agriculture employs three-fourths of the labor force and supplies almost 40% of exports. The manufacturing sector, based on agriculture and mining, produces a variety of goods and contributes 35% to GDP. Mining accounts for only 5% of both GDP and employment, but supplies of minerals and metals account for about 40% of exports. Wide fluctuations in agricultural production over the past six years have resulted in an uneven growth rate, one that on average has matched the 3% annual increase in pop |
| 1995 | Agriculture employs three-fourths of the labor force and supplies almost 40% of exports. The manufacturing sector, based on agriculture and mining, produces a variety of goods and contributes 35% to GDP. Mining accounts for only 5% of both GDP and employment, but minerals and metals account for about 40% of exports. Severe drought caused GDP to drop 8% in 1992, with growth rebounding to 2% in 1993 and 3.5% in 1994. Despite the lingering effects of the drought on economic and social conditions, t |
| 1996 | Agriculture employs 70% of the labor force of this landlocked nation and supplies almost 40% of exports. Mining accounts for only 5% of both GDP and employment, but minerals and metals account for about 40% of exports. Severe drought caused GDP to drop 8% in 1992, with growth rebounding to 2% in 1993 and 4.5% in 1994, only to drop by 2.4% in 1995. The government is continuing to push its IMF/World Bank structural adjustment program aimed at encouraging exports and foreign investment. Officials f |
| 1997 | Agriculture employs 70% of the labor force of this landlocked nation and supplies almost 40% of exports. Mining accounts for only 5% of both GDP and employment, but minerals and metals account for about 40% of exports. Severe drought caused GDP to drop 8% in 1992, with growth rebounding to 2% in 1993 and 4.5% in 1994, only to drop by 2.4% in 1995. The government is continuing to push its IMF/World Bank structural adjustment program aimed at encouraging exports and foreign investment. Officials f |
| 1998 | Agriculture employs 27% of the labor force of this landlocked nation and supplies almost 25% of exports. Mining accounts for only 5% of both GDP and employment, but minerals and metals account for about 20% of exports. The government is working to consolidate earlier progress in developing a market-oriented economy. Although the IMF suspended support for Zimbabwe's economic structural adjustment program (ESAP) in 1995, due to government failure to meet key targets, recent talks between the gover |
| 1998 | This entry briefly describes the type of economy, including the degree of market orientation, the level of economic development, the most important natural resources, and the unique areas of specialization. It also characterizes major economic events and policy changes in the most recent 12 months and may include a statement about one or two key future macroeconomic trends. |
| 1999 | The government of Zimbabwe faces a wide variety of difficult economic problems as it struggles to consolidate earlier progress in developing a market-oriented economy. Its involvement in the war in the Democratic Republic of the Congo, for example, has already drained hundreds of millions of dollars from the economy. Badly needed support from the IMF suffers delays in part because of the country's failure to meet budgetary goals. Inflation rose from an annual rate of 25% in January 1998 to 47% i |
| 2000 | The government of Zimbabwe faces a wide variety of difficult economic problems as it struggles to consolidate earlier progress in developing a market-oriented economy. Its involvement in the war in the Democratic Republic of the Congo, for example, has already drained hundreds of millions of dollars from the economy. Badly needed support from the IMF suffers delays in part because of the country's failure to meet budgetary goals. Inflation rose from an annual rate of 32% in 1998 to 59% in 1999. |
| 2001 | The government of Zimbabwe faces a wide variety of difficult economic problems as it struggles to consolidate earlier moves to develop a market-oriented economy. Its involvement in the war in the Democratic Republic of the Congo, for example, has already drained hundreds of millions of dollars from the economy. Badly needed support from the IMF suffers delays in part because of the country's failure to meet budgetary goals. Inflation rose from an annual rate of 32% in 1998 to 59% in 1999 and 60% |
| 2002 | The government of Zimbabwe faces a wide variety of difficult economic problems as it struggles to consolidate earlier moves to develop a market-oriented economy. Its involvement in the war in the Democratic Republic of the Congo, for example, has already 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 59% in 1999, to 60% in |
| 2003 | 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% |
| 2004 | 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% |
| 2005 | 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% |
| 2006 | 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 government's arrears on past loans, which it began repaying in 2005. The official an |
| 2007 | 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 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 fore |
| 2008 | The government of Zimbabwe faces a wide variety of difficult economic problems as it struggles with an unsustainable fiscal deficit, an overvalued official exchange rate, hyperinflation, and bare store shelves. 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 expo |
| 2009 | The government of Zimbabwe faces a wide variety of difficult economic problems as it struggles with an unsustainable fiscal deficit, an overvalued official exchange rate, hyperinflation, and bare store shelves. 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 expo |
| 2010 | 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 |
| 2011 | Zimbabwe's economy is growing at a brisk pace despite continuing political uncertainty. Following a decade of contraction, Zimbabwe's economy recorded real growth of 5.9% in 2010. But the government of Zimbabwe still faces a number of difficult economic problems, including a large external debt burden and insufficient formal employment. Zimbabwe's 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 la |
| 2012 | Zimbabwe's economy is growing despite continuing political uncertainty. Following a decade of contraction from 1998 to 2008, Zimbabwe's economy recorded real growth of more than 9% per year in 2010-11, before slowing to 5% in 2012, due in part to a poor harvest and low diamond revenues. However, the government of Zimbabwe still faces a number of difficult economic problems, including infrastructure and regulatory deficiencies, ongoing indigenization pressure, policy uncertainty, a large external |
| 2013 | Zimbabwe's economy is growing despite continuing political uncertainty. Following a decade of contraction from 1998 to 2008, Zimbabwe's economy recorded real growth of more than 9% per year in 2010-11, before slowing to 5% in 2012, due in part to a poor harvest and low diamond revenues. However, the government of Zimbabwe still faces a number of difficult economic problems, including infrastructure and regulatory deficiencies, ongoing indigenization pressure, policy uncertainty, a large external |
| 2014 | Zimbabwe's economy is growing despite continuing political uncertainty. Following a decade of contraction from 1998 to 2008, Zimbabwe's economy recorded real growth of roughly 10% per year in 2010-11, before slowing in 2012-13 due poor harvests and low diamond revenues. The government of Zimbabwe faces a number of difficult economic problems, including infrastructure and regulatory deficiencies, ongoing indigenization pressure, policy uncertainty, a large external debt burden, and insufficient f |
| 2015 | Zimbabwe's economy depends heavily on its mining and agriculture sectors. Following a decade of contraction from 1998 to 2008, the economy recorded real growth of more than 10% per year from 2010-13, before slowing to roughly 3% in 2014 due to poor harvests, low diamond revenues, and decreased investment. Infrastructure and regulatory deficiencies, a poor investment climate, a large public and external debt burden, and extremely high government wage expenses impede the country’s economic perform |
| 2016 | Zimbabwe's economy depends heavily on its mining and agriculture sectors. Following a decade of contraction from 1998 to 2008, the economy recorded real growth of more than 10% per year in the period 2010-13, before slowing to roughly 3% in 2014 due to poor harvests, low diamond revenues, and decreased investment. Lower mineral prices, infrastructure and regulatory deficiencies, a poor investment climate, a large public and external debt burden, and extremely high government wage expenses impede |
| 2017 | Zimbabwe's economy depends heavily on its mining and agriculture sectors. Following a decade of contraction from 1998 to 2008, the economy recorded real growth of more than 10% per year in the period 2010-13, before slowing to roughly 4% in 2014 due to poor harvests, low diamond revenues, and decreased investment. Growth turned negative in 2016. Lower mineral prices, infrastructure and regulatory deficiencies, a poor investment climate, a large public and external debt burden, and extremely high |
| 2018 | Zimbabwe's economy depends heavily on its mining and agriculture sectors. Following a contraction from 1998 to 2008, the economy recorded real growth of more than 10% per year in the period 2010-13, before falling below 3% in the period 2014-17, due to poor harvests, low diamond revenues, and decreased investment. Lower mineral prices, infrastructure and regulatory deficiencies, a poor investment climate, a large public and external debt burden, and extremely high government wage expenses impede |
| 2019 | Zimbabwe's economy depends heavily on its mining and agriculture sectors. Following a contraction from 1998 to 2008, the economy recorded real growth of more than 10% per year in the period 2010-13, before falling below 3% in the period 2014-17, due to poor harvests, low diamond revenues, and decreased investment. Lower mineral prices, infrastructure and regulatory deficiencies, a poor investment climate, a large public and external debt burden, and extremely high government wage expenses impede |
| 2020 | Zimbabwe's economy depends heavily on its mining and agriculture sectors. Following a contraction from 1998 to 2008, the economy recorded real growth of more than 10% per year in the period 2010-13, before falling below 3% in the period 2014-17, due to poor harvests, low diamond revenues, and decreased investment. Lower mineral prices, infrastructure and regulatory deficiencies, a poor investment climate, a large public and external debt burden, and extremely high government wage expenses impede |
| 2021 | Zimbabwe's economy depends heavily on its mining and agriculture sectors. Following a contraction from 1998 to 2008, the economy recorded real growth of more than 10% per year in the period 2010-13, before falling below 3% in the period 2014-17, due to poor harvests, low diamond revenues, and decreased investment. Lower mineral prices, infrastructure and regulatory deficiencies, a poor investment climate, a large public and external debt burden, and extremely high government wage expenses impede |
| 2022 | Zimbabwe's economy depends heavily on its mining and agriculture sectors. Following a contraction from 1998 to 2008, the economy recorded real growth of more than 10% per year in the period 2010-13, before falling below 3% in the period 2014-17, due to poor harvests, low diamond revenues, and decreased investment. Lower mineral prices, infrastructure and regulatory deficiencies, a poor investment climate, a large public and external debt burden, and extremely high government wage expenses impede |
| 2023 | low income Sub-Saharan economy; political instability, protest crackdowns, and COVID-19 have damaged economic potential; reliant on natural resource extraction and agriculture; endemic corruption; ongoing hyperinflation |
| 2024 | 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 |
| 2025 | 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 |