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Zimbabwe

Zimbabwe Economy Stats

Overview:

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 provide food aid on humanitarian grounds. Until early 2009, the Reserve Bank of Zimbabwe routinely printed money to fund the budget deficit, causing hyperinflation. The power-sharing government formed in February 2009 has led to some economic improvements, including the cessation of hyperinflation by eliminating the use of the Zimbabwe dollar and removing price controls. The economy is registering its first growth in a decade, but will be reliant on further political improvement for greater growth.

Definitions

  • Debt > External: Total public and private debt owed to non-residents repayable in foreign currency, goods, or services.
  • Exports: This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  • Fiscal year: The beginning and ending months for a country's accounting period of 12 months, which often is the calendar year but which may begin in any month. All yearly references are for the calendar year (CY) unless indicated as a noncalendar fiscal year (FY).
  • GDP: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.
  • GDP > Composition by sector > Industry: The gross domestic product (GDP) or value of all final goods produced by the industrial sector within a nation in a given year. GDP dollar estimates in the Factbook are derived from purchasing power parity (PPP) calculations. See the CIA World Factbook for more information.
  • GDP > Per capita: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller. Per capita figures expressed per 1 population.
  • GDP > Per capita > PPP: This entry shows GDP on a purchasing power parity basis divided by population as of 1 July for the same year.
  • GDP > Purchasing power parity: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller.
  • GDP > Real growth rate: GDP growth on an annual basis adjusted for inflation and expressed as a percent.
  • GDP per capita: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Figures expressed per capita for the same year.
  • Gross National Income: GNI, Atlas method (current US$). GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and prop).
  • Population below poverty line: National estimates of the percentage of the population lying below the poverty line are based on surveys of sub-groups, with the results weighted by the number of people in each group. Definitions of poverty vary considerably among nations. For example, rich nations generally employ more generous standards of poverty than poor nations.
  • Public debt: This entry records the cumulatiive total of all government borrowings less repayments that are denominated in a country's home currency. Public debt should not be confused with external debt, which reflects the foreign currency liabilities of both the private and public sector and must be financed out of foreign exchange earnings.
  • Tourist arrivals: International inbound tourists (overnight visitors) are the number of tourists who travel to a country other than that in which they have their usual residence, but outside their usual environment, for a period not exceeding 12 months and whose main purpose in visiting is other than an activity remunerated from within the country visited. When data on number of tourists are not available, the number of visitors, which includes tourists, same-day visitors, cruise passengers, and crew members, is shown instead. Sources and collection methods for arrivals differ across countries. In some cases data are from border statistics (police, immigration, and the like) and supplemented by border surveys. In other cases data are from tourism accommodation establishments. For some countries number of arrivals is limited to arrivals by air and for others to arrivals staying in hotels. Some countries include arrivals of nationals residing abroad while others do not. Caution should thus be used in comparing arrivals across countries. The data on inbound tourists refer to the number of arrivals, not to the number of people traveling. Thus a person who makes several trips to a country during a given period is counted each time as a new arrival."
  • Unemployment rate: This entry contains the percent of the labor force that is without jobs. Substantial underemployment might be noted.
STAT AMOUNT DATE RANK HISTORY
Debt > External $8.77 billion 2012 99th out of 172
Exports $3.31 billion 2012 121st out of 189
Fiscal year calendar year 2013
GDP $10.81 billion 2012 118th out of 177
GDP > Composition by sector > Industry 25.1% 2012 117th out of 217
GDP > Per capita $349.61 per capita 2010 117th out of 118
GDP > Per capita > PPP $600.00 2012 184th out of 188
GDP > Purchasing power parity $7.17 billion 2012 151st out of 190
GDP > Real growth rate 4.4% 2012 75th out of 191
GDP per capita $787.94 2012 153th out of 177
Gross National Income $6.16 billion 2001 87th out of 158
Population below poverty line 68% 2004 2nd out of 19
Public debt 244.2% of GDP 2012 1st out of 149
Tourist arrivals 2.51 million 2007 53th out of 174
Unemployment rate 95% 2009 1st out of 112

SOURCES: CIA World Factbooks 18 December 2003 to 28 March 2011; CIA World Factbooks 2010, 2011, 2012, 2013; All CIA World Factbooks 18 December 2003 to 18 December 2008; World Bank national accounts data, and OECD National Accounts data files.; CIA World Factbook 2010, 2011, 2012, 2013; World Bank national accounts data, and OECD National Accounts data files. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; CIA World Factbooks 18 December 2003 to 28 March 2011; World Tourism Organisation, Yearbook of Tourism Statistics, Compendium of Tourism Statistics and data files.

Citation

"Zimbabwe Economy Stats", NationMaster. Retrieved from http://www.nationmaster.com/country-info/profiles/Zimbabwe/Economy

NationMaster

Zimbabwe Economy Profiles (Subcategories)

Adjusted savings 3 Innovation 9
Aid 5 Interest payments 3
Balance of payments 34 International tourism 10
Bank and trade-related lending 4 Labor force 3
Budget 10 Long-term debt 4
Changes in net 4 Market capitalization of listed companies 4
Commercial service 4 Merchandise 4
Commercial service imports 4 Merchandise imports 4
Companies 33 National accounts 105
Consumption 4 Natural gas 8
Currency 11 Net capital account 4
Current account balance 5 Net current transfers 4
Current transfers 4 Net current transfers from abroad 6
Debt 92 Net errors and omissions 4
Economic aid 3 Net financial flows 28
Electricity 8 Net income 4
Entrepreneurship 12 Net income from abroad 6
Exports 3 Net incurrence of liabilities 3
External balance on goods and services 7 Net trade in goods 4
External debt 214 Net trade in goods and services 4
Final 20 Official development assistance and official aid 4
Financial sector 36 Oil 10
Foreign aid 43 Portfolio investment 12
Foreign direct investment 10 Poverty 20
GDP 37 Poverty and inequality 11
GDP growth 3 Private nonguaranteed debt 4
GDP per capita 4 Public and publicly guaranteed debt service 6
GNI 12 Public and publicly guaranteed (PPG) debt 3
Goods 4 Reserves 6
Goods imports 4 Royalty and license fees 8
Government 8 Savings 42
Government debt 8 Service 4
Government spending 5 Service imports 4
Gross capital formation 10 Services 10
Gross domestic savings 6 Spending 57
Gross fixed capital formation 10 Stocks traded 5
Gross national expenditure 9 Tax 69
Gross savings 6 Total 9
Gross value added at factor cost 9 Total debt service 6
High-technology 4 Tourism 10
Household final 23 Tourism receipts 5
IBRD loans and IDA credits 4 Tourist arrivals by region of origin 7
Income distribution 4 Trade 1366
Income payments 4 Trademark applications 3
Income receipts 4 Transnational corporations 4
Inequality 8 Use of IMF credit 4
Inflation 9 Welfare 5
Zimbabwe] Rhodesia - Population
Financial History: Zimbabwe Economic Collapse 2000-2008
Trivia Tidbit Of The Day: Part 330 -- The Disaster That Is Zimbabwe.
Zimbabwe ranked first for unemployment rate amongst Christian countries in 2009.
Zimbabwe ranked first for deposit interest rate amongst Hot countries in 2005.
Zimbabwe ranked first for consumer price index amongst Former British colonies in 2002.
Zimbabwe ranked first for inflation globally in 2007.
Zimbabwe ranked first for GDP > composition, by end use > government consumption amongst Heavily indebted countries in 2013.
Zimbabwe ranked first for financial sector > exchange rates and prices > GDP deflator > base year varies by country amongst Landlocked countries in 2005.
Zimbabwe ranked third last for GDP > per capita > PPP amongst Failed states in 2012.
Zimbabwe ranked second for GDP > composition, by end use > exports of goods and services amongst Sub-Saharan Africa in 2013.

0

Funny, I'm in sixth grade, too, doing a project on Zimbabwe. But could you tell me how long ago since Zimbabwe had started hyperinflation?

Posted on 04 Feb 2010

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