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The economy of Zimbabwe is a gold standard based economy. Zimbabwe has a $44 billion dollar informal economy in PPP terms which translates to 64.1% of the total economy. [22] Agriculture and mining largely contribute to exports. The economy is estimated to be at $73 billion at the end of 2023.
With growth rates of 6.1% in 2022 and 5.3% in 2023, Zimbabwe is one of the fastest-growing economies in Southern Africa, due to an expansion in agriculture, mining, and remittances-induced services growth. Real GDP growth is expected to decline to 2% in 2024 due to El Niño-induced droughts, lower mining prices, and macroeconomic instability.
Zimbabwe Economic Outlook. Recent macroeconomic and financial developments. Real GDP growth moderated from 6.1% in 2022 to 5.0% in 2023, due mainly to drought and floods that affected agricultural output and to higher costs of fuel and food imports.
Gross Domestic Product (GDP) growth in Zimbabwe is projected to reach 3.9 percent in 2021, a significant improvement after a two-year recession, according to the World Bank Zimbabwe Economic Update (ZEU) launched today.
To achieve the ambitious goal of becoming an upper-middle income country (UMIC) by 2030, Zimbabwe will need to sharply accelerate productivity growth and ensure quality jobs, according to the World Bank’s Zimbabwe Country Economic Memorandum (CEM) launched today.
GDP (current US$) - Zimbabwe. World Bank national accounts data, and OECD National Accounts data files. License : CC BY-4.0. Line Bar Map. Label.
Zimbabwe Global Economic Prospects examines trends for the world economy and how they affect developing countries. The report includes country-specific three-year forecasts for major macroeconomic indicators, including commodity and financial markets.