Reasons to do business in this African country
Zimbabwe Fact Sheet
- A Home to 15.17Million people. Where 7.289 million (48%) are male and 7.889million (52%) are female.
- 16.2% increase in population since 2012. Thus, a 1.5% annual growth rate.
- Covered 390,757 Square kilometres of land. With 3.88 million households, Zimbabwe has an average of 4 persons per household.
- Zimbabwe Provinces;
- Harare (16%.of population) Capital city
- Manicaland (13.4% of the population)
- Mashonaland West (12.5% of the population)
- Bulawayo (4.4% of the population)
- Matabeleland South (5% of the population)
- Matabeleland North (5.5% of the population)
- Zimbabwe has 16 official languages. Mains are Shona (spoken 70%) & Ndebele (Spoken by 20%).
- English is the country’s Lingua Franca – Bridge language, Common language, and Trade language. Used in government and business and as the main medium of instruction in schools.
- In 2021, Zimbabwe had a Gross Domestic Product of 26.22Billion USD.
- 60% of which is generated from tertiary industries ie. The tertiary sector covers a wide range of activities from commerce to administration, transport, financial and real estate activities, business and personal services, education, health and social work.
- Unemployment rate is 5.17%. A major improvement considering the 94% unemployment rate in 2008.
- As of 2020, the total export value was 4,394,837,096 USD and the import was 5, 047, 868, 606
- Major export destinations (2020)
- South Africa 1.73Billion USD (39%),
- United Arab Emirates – 20% (891 million US$)
- Mozambique – 9.27% (407 million US$)
- Uganda – 2.89% (127 million US$)
- Belgium – 1.65% (72 million US$)
- Major exports -products (2020)
- 30% (1.34 billion US$): – Natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin
- 22% (985 million US$): – Nickel and articles thereof
- 18% (794 million US$): – Tobacco and manufactured tobacco substitutes
- 15% (662 million US$): – Ores, slag and ash
- 3.28% (144 million US$): – Iron and steel
- 1.75% (76 million US$): – Sugars and sugar confectionery
- Major import partners
- South Africa – 49% (2.48 billion US$)
- Singapore – 10.8% (548 million US$)
- China with – 9.32% (470 million US$)
- India – 3.21% (162 million US$)
- Mauritius – 3.2% (161 million US$)
- Mozambique – 2.7% (136 million US$)
- Zambia – 2.2% (111 million US$)
- United Kingdom – 1.8% (91 million US$)
- United Arab Emirates – 1.41% (71 million US$)
- USA – 1.09% (55 million US$)
- Major Imports – Products
- 16.1% (817 million US$):- Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes
- 12.7% (642 million US$):- Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof
- 10.3% (524 million US$):- Cereals
- 6.46% (326 million US$):- Vehicles other than railway or tramway rolling stock, and parts and accessories thereof
- 4.66% (235 million US$):- Fertilizers
- 4.47% (226 million US$):- Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles
- 3.85% (194 million US$):- Plastics and articles thereof
- 3.73% (188 million US$):- Pharmaceutical products
- 3.72% (187 million US$):- Miscellaneous chemical products
- 3.51% (177 million US$):- Articles of iron or steel
Food and Food Security
- Main Zimbabwean cuisine is maize/corn and used in variety of dishes. However, the British Colonization left its mark – British spices, bread, sugar & tea have become part of daily life in Zimbabwe. Popular dishes include Sadza, Bota Dovi, Nhedzi, and Mapopo Candy
The HyperInflation (Economic Crisis) in Zimbabwe. What Happen?
- The Hyperinflation began in February 2007.
- Though the government had stopped filing official inflation statistics, Zimbabwe’s peak month of inflation was estimated at 79.6 billion per cent month-on-month, 89.7 sextillion per cent year-on-year in mid-November 2008.
- Was during this period (in 2008) that the unemployment rate reached 94%
- In April 2009, Zimbabwe stopped printing its currency, and currencies from other countries were used.
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