Country Snapshot

Population (2019, millions)¹14.64
Population Projections (2030, millions)¹17.59
Economically active population in agriculture (as % of Economically active population)12, 201950
CapitalHarare
Surface Area (km²)²390,760
Weather¹¹In Harare: Hottest months, October and November, 16-27°C; coldest months, June and July, 7-21°C (average daily minimum and maximum); driest month, July, 1 mm average rainfall; wettest month, January, 196 mm average rainfall
Languages³Official: Shona, Ndebele, English, and minority official including Chewa, Chibarwe, Kalanga, Koisan, Nambya, Ndau, Shangani, sign language, Sotho, Tonga, Tswana, Venda and Xhosa
Main Religions³Main: Protestant (Apostolic, Pentecostal and other protestant), Roman Catholic, other Christian, Muslim, tradition, others and none
Time⁴Central Africa Time (CAT) +0200 UTC
Driving Orientation⁵Left Side
Internet Country Code⁶.zw
Country Calling Code+263
Plug, Socket and Voltage⁷ Type D and G - 220V/50Hz
CurrencyUS Dollar (USD) - 1/100 = Cent
Exchange Rate (As of 19 February 2019, per USD)⁸N/A
GDP at Market Prices (2018, current, billions of USD)⁹31
GDP Growth (2018, annual %)⁹6.16
Average GDP Growth (2014-2018, annual %)⁹3.15
GDP per Capita, PPP (2018, current international $)⁹3,024
Inflation, Consumer Prices (2017, annual %)⁹0.90
Average Inflation, Consumer Prices (2013-2017, annual %)⁹(0.32)
Total Reserves in Months of Imports (2017)⁹0.5

Sources:

¹United Nations Population Division, Department of Economic and Social Affairs. 

²COMESA Statistics, COMESTAT Data Hub. 

³CIA World Factbook. 

⁴Time and Date Portal. 

⁵Chartsbin Portal, "Worldwide Driving Orientation by Country". 

Wikipedia, "List of Internet top-level domains"; and, Internet Assigned Numbers Authority, Root Zone Database. 

⁷International Electrotechnical Commission, World Plugs. 

⁸Reserve Bank of Zimbabwe.

World Bank, World Development Indicators 2019.

¹¹Economist Intelligence Unit. 

12AFDB Socio Economic Database

Reasons to Invest in Zimbabwe 

Population

Population Projections (millions)

Population (2019)14.64
Population Projections (2030)17.59

Source: United Nations Population Division, Department of Economic and Social Affairs. 

Population Residing in Urban Areas (%)

Population Projections (2019)32.21
Percentage of Population Residing in Urban Areas (2030)34.23

Source: United Nations Population Division, Department of Economic and Social Affairs. 

Youth Literacy Rates (2017, %)

Youth Literacy Rate, Population 15-24 Years, Both Sexes 
Youth Literacy Rate, Population 15-24 Years, Female 
Youth Literacy Rate, Population 15-24 Years, Male 

Source: United Nations Educational, Scientific and Cultural Organization, UNESCO Institute of Statistics.

Labour

Unemployment (2018, % of Total Labour Force)

Unemployment, Total 4.91
Unemployment, Female 5.42
Unemployment, Male 4.42

Source: World Bank, World Development Indicators 2019.

Labour Force (2018, % of Ages 15+)

Labour Force Participation Rate, Total 83.54
Labour Force Participation Rate, Female 78.56
Labour Force Participation Rate, Male88.99
Labour Force, Total (number)6,948,204

Source: World Bank, World Development Indicators 2019.

Economy - Overview

GDP

 20142015201620172018
GDP at Market Prices (current, billions of USD)19.4919.9620.5422.8131
GDP Growth (annual %)2.371.770.754.76.16

Source: World Bank, World Development Indicators 2019.

Value Added by Sector (% of GDP)

Indicator20182019
Agriculture 13.4913.76
Manufacturing  11.9011.67
Industry  29.8629.52
Services 75.6475.72
Construction 3.583.58
Electricity, gas and water  4.534.56
Mining and quarrying  9.869.71
Education  14.8515.10
Finance, real estate and business services  12.3711.92
Public administration and Defense  12.4912.67
Health and Social Work 3.193.26
Other services 3.843.82
Transport, storage and communication  12.3712.39
Wholesale and retail trade, hotels and restaurants17.2917.35

Source: AFDB Socio Economic Database.

Trade Profile

Import Partners (Imported Value, thousands, USD)

 20142015201620172018
World6,415,9886,045,8625,322,1575,165,0896,468,767
South Africa2,754,2702,326,5212,176,7722,042,2302,523,514
Singapore1,168,0281,338,4131,118,0871,105,3621,359,314
China404,055460,227370,913458,922413,742
United Kingdom210,39598,00192,452115,401227,674
Japan155,110129,911100,569124,669217,078

Source: COMSTAT database

Export Partners (Exported Value, thousands, USD)

 20142015201620172018
World3,871,5743,410,6593,341,1513,483,6114,037,945
South Africa2,016,3382,060,8702,265,8392,154,1092,073,131
United Arab Emirates96,056147,837116,683222,944731,911
Unspecified804,117577,551487,528525,278594,383
Mozambique574,122408,254266,409363,538384,465
Zambia95,07086,49169,58556,92863,176

Source: COMSTAT database

Zimbabwe’s Top Import Products (USD ‘000)

ChapterDescription20142015201620172018
 All products       6,415,988        6,045,862        5,322,157        5,165,089        6,468,767 
27Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes       1,567,430        1,581,847        1,502,883        1,501,012        1,870,363 
84Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof          489,204           481,289           408,651           520,387           666,058 
87Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof          545,847           460,054           342,863           350,519           603,818 
31Fertilizers          269,314           184,794           120,323           217,684           325,155 
10Cereals          331,649           409,879           517,921           361,764           269,708 

Source: COMSTAT database

Zimbabwe’s Top Export Products (USD ‘000)

ChapterDescription20142015201620172018
 All products    3,871,574     3,410,659     3,341,151     3,483,611     4,037,945 
71Natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metal, and articles thereof; imitation jewellery; coin    1,102,188         940,877     1,023,718     1,019,732     1,347,399 
24Tobacco and manufactured tobacco substitutes        843,265         907,606         927,177         838,795         893,113 
75Nickel and articles thereof        570,214         428,935         434,404         436,209         525,294 
26Ores, slag and ash        368,006         339,408         380,973         469,623         497,182 
72Iron and steel        283,582         176,746         123,958         282,049         251,778 

Source: COMSTAT database

Investment Profile

FDI Inflows (millions of USD)

Year20142015201620172018
FDI Inflows545421372349745

Source: United Nations Conference on Trade and Development, World Investment Report 2019

FDI Inward Stock (millions of USD)

Year 2014 2015 2016 2017 2018
FDI Inward Stock 212 252 241 242 243

Source: United Nations Conference on Trade and Development, World Investment Report 2019

FDI Outward Stock (millions of USD)

Year20142015201620172018
FDI Outflows72.022.028.842.226.8

Source: United Nations Conference on Trade and Development, World Investment Report 2019

FDI Inward Stock (millions of USD)

Year20142015201620172018
FDI Inward Stock3,5463,9674,3394,6885,433

Source: United Nations Conference on Trade and Development, World Investment Report 2019.

FDI Outward Stock (millions of USD)

Year20142015201620172018
FDI Outward Stock487509538580607

Source: United Nations Conference on Trade and Development, World Investment Report 2019.

FDI Inflows Main Source Countries (in terms of number of projects)

South Africa, UK, China, Togo, Botswana, India, Canada, Netherlands, Russia, and Switzerland.

Source: Financial Times, fDi Markets, 2018

Financial Times, fDi Markets, 2018

Financial Services, Metals, Communications, Food & Tobacco, Coal, Oil and Natural Gas, Minerals, Renewable energy, Real Estate, Business Services, and Beverages.

Source: Financial Times, fDi Markets, 2018

FDI Inflows Main Companies (in terms of number of projects)

Ecobank Zimbabwe, BancABC Zimbabwe, ZTS International Industrial (G-Tide), Choppies Zimbabwe, Old Mutual Zimbabwe, Telecel Zimbabwe, Lesaffre Zimbabwe, MBCA Bank, Ruschrome Mining, and deVere & Partners (deVere Group).

Source: Financial Times, fDi Markets, 2018

Doing Business

Overall Doing Business Ranking

2020140/190
2019155/190

Source: World Bank, Doing Business, 2020

Starting a Business

2020 Rank167/190
Procedures (number)9
Time (days)27
Cost (% of income per capita*)76.6
Paid-in Minimum Capital (% of income per capita*)0.0

*GNI per capita used: USD 1,790
Source: World Bank, Doing Business, 2020

Paying Taxes

Paying Taxes

2020 Rank146/190
Payments (number per year)51
Time (hours per year)242
Total Tax Rate (% of profit)31.6
       Profit Tax (% of profit) 17.6
       Labor Tax and Contributions (% of profit)5.6
       Other Taxes (% of profit)8.3

Source: World Bank, Doing Business, 2020

Trading Across Borders

2020 Rank159/190
Time to Export: Border Compliance (hours)88
Cost to Export: Border Compliance (USD)285
Time to Export: Documentary Compliance (hours) 99
Cost to Export: Documentary Compliance (USD)170
Time to Import: Border Compliance (hours) 228
Cost to Import: Border Compliance (USD) 562
Time to Import: Documentary Compliance (hours) 81
Cost to Import: Documentary Compliance (USD) 150

Assumptions:
* It is assumed that shipment travels from a warehouse in the largest business city of the exporting economy to a warehouse in the largest business city of the importing economy.
* It is assumed that each economy imports a standardized shipment of 15 metric tons of containerized auto parts (HS 8708) from its natural import partner—the economy from which it imports the largest value (price times quantity) of auto parts. It is assumed that each economy exports the product of its comparative advantage (defined by the largest export value) to its natural export partner—the economy that is the largest purchaser of this product.
* A shipment is a unit of trade. Export shipments do not necessarily need to be containerized, while import shipments of auto parts are assumed to be containerized.
* Shipping cost based on weight is assumed to be greater than shipping cost based on volume.
* If government fees are determined by the value of the shipment, the value is assumed to be $50,000.
* The mode of transport is the one most widely used for the chosen export or import product and the trading partner, as is the seaport, airport or land border crossing.
* Time is measured in hours, and 1 day is 24 hours.
* Costs do not include tariffs.
Source: World Bank, Doing Business, 2020

Investment Regime

Legal Framework

Investment Code 2007

Source: Deloitte, Guide to Fiscal Information, Key Economies in Africa 2018

Investment Incentives

General Incentives:

Mining incentives – Capital redemption allowance 

Certain tax incentives apply to mining companies, including the following:

Indigenisation incentives and regulations 

With effect, from 1 January 2018, the indigenisation and empowerment regulations requirement of 51% local ownership apply only to the extractive sector of platinum and diamond and does not apply to all other sectors. 

Source: Deloitte, Guide to Fiscal Information, Key Economies in Africa 2018.