Zimbabwe

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Introduction - Zimbabwe:
Location - Zimbabwe:
People - Zimbabwe:
Government - Zimbabwe:
Economy - 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 drained hundreds of millions of dollars from the economy. The governments 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. Badly needed support from the IMF has been suspended because of the governments arrears on past loans, which it began repaying in 2005. The official annual inflation rate rose from 32% in 1998, to 133% in 2004, 585% in 2005, and approached 1000% in 2006, although private sector estimates put the figure much higher. Meanwhile, the official exchange rate fell from approximately 1 (revalued) Zimbabwean dollar per US dollar in 2003 to 160 per US dollar in 2006.

Gdp purchasing power parity

$25.36 billion (2006 est.)

Gdp official exchange rate

$3.146 billion (2006 est.)

Gdp real growth rate

-4.4% (2006 est.)

Gdp per capita ppp

$2,100 (2006 est.)

Gdp composition by sector

agriculture: 17.7%
industry: 22.9%
services: 59.4% (2006 est.)

Labor force

3.958 million (2006 est.)

Labor force by occupation

agriculture: 66%
industry: 10%
services: 24% (1996)

Unemployment rate

80% (2005 est.)

Population below poverty line

80% (2004 est.)

Household income or consumption by percentage share

lowest 10%: 2%
highest 10%: 40.4% (1995)

Distribution of family income gini index

56.8 (2003)

Inflation rate consumer prices

976.4% official data; private sector estimates are much higher (2006 est.)

Investment gross fixed

16.1% of GDP (2006 est.)

Budget

revenues: $1.411 billion
expenditures: $1.924 billion; including capital expenditures of $NA (2006 est.)

Public debt

108.4% of GDP (2006 est.)

Agriculture products

corn, cotton, tobacco, wheat, coffee, sugarcane, peanuts; sheep, goats, pigs

Industries

mining (coal, gold, platinum, copper, nickel, tin, clay, numerous metallic and nonmetallic ores), steel; wood products, cement, chemicals, fertilizer, clothing and footwear, foodstuffs, beverages

Industrial production growth rate

-1.8% (2006 est.)

Electricity production

9.412 billion kWh (2004)

Electricity consumption

11 billion kWh (2004)

Electricity exports

0 kWh (2004)

Electricity imports

2.25 billion kWh (2004)

Oil production

0 bbl/day (2004 est.)

Oil consumption

22,500 bbl/day (2004 est.)

Oil exports

0 bbl/day (2004 est.)

Oil imports

13,370 bbl/day (June 26)

Oil proved reserves

0 bbl

Natural gas production

0 cu m (2004 est.)

Natural gas consumption

0 cu m (2004 est.)

Current account balance

-$264.6 million (2006 est.)

Exports

$1.766 billion f.o.b. (2006 est.)

Exports commodities

cotton, tobacco, gold, ferroalloys, textiles/clothing

Exports partners

South Africa 32.3%, China 6.3%, Zambia 6.2%, Japan 5.9%, US 4.9%, Netherlands 4.6%, Italy 4.4%, Germany 4% (2006)

Imports

$2.055 billion f.o.b. (2006 est.)

Imports commodities

machinery and transport equipment, other manufactures, chemicals, fuels

Imports partners

South Africa 46.1%, China 5.9%, Botswana 4.8%, Zambia 4.1% (2006)

Reserves of foreign exchange and gold

$140 million (2006 est.)

Debt external

$5.26 billion (2006 est.)

Economic aid recipient

$178 million; note - the EU and the US provide food aid on humanitarian grounds (2000 est.)

Currency code

Zimbabwean dollar (ZWD)

Exchange rates

Zimbabwean dollars per US dollar - 162.07 (2006), 77.965 (2005), 5.729 (2004), 0.824 (2003), 0.055 (2002)
note: these are official exchange rates; non-official rates vary significantly

Communications - Zimbabwe:
Transportation - Zimbabwe:
Military - Zimbabwe:
This page was last updated on 16 September, 2007
Source: CIA >>>


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Zimbabwe



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