Country Snapshot

Population (2019, millions)¹ 14.64
Population Projections (2030, millions)¹ 17.59
Economically active population in agriculture (as % of Economically active population)12, 2019 50
Capital Harare
Surface Area (km²)² 390,760
Weather¹¹ In 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
Languages³ Official: Shona, Ndebele, English, and minority official including Chewa, Chibarwe, Kalanga, Koisan, Nambya, Ndau, Shangani, sign language, Sotho, Tonga, Tswana, Venda and Xhosa
Main Religions³ Main: Protestant (Apostolic, Pentecostal and other protestant), Roman Catholic, other Christian, Muslim, tradition, others and none
Time⁴ Central Africa Time (CAT) +0200 UTC
Driving Orientation⁵ Left Side
Internet Country Code⁶ .zw
Country Calling Code +263
Plug, Socket and Voltage⁷ Type D and G – 220V/50Hz
Currency US Dollar (USD) – 1/100 = Cent
Exchange Rate (As of 19 February 2019, per USD)⁸ N/A
GDP at Market Prices (2018, current, billions of USD)⁹ 31
GDP Growth (2018, annual %)⁹ 6.16
Average GDP Growth (2014-2018, annual %)⁹ 3.15
GDP per Capita, PPP (2018, current international $)⁹ 3,024
Inflation, Consumer Prices (2017, annual %)⁹ 0.90
Average Inflation, Consumer Prices (2013-2017, annual %)⁹ (0.32)
Total Reserves in Months of Imports (2017)⁹ 0.5

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”.
⁶Wikipedia, “List of Internet top-level domains”; and, Internet Assigned Numbers Authority, Root Zone Database.
⁷International Electrotechnical Commission, World Plugs.
⁸Reserve Bank of Zimbabwe.
⁹World Bank, World Development Indicators 2019.
¹¹Economist Intelligence Unit.
¹²AFDB Socioeconomic Database

Reasons to Invest in Zimbabwe

Source: Zimbabwe Investment Development Agency – ZIDA

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, Male 88.99
Labour Force, Total (number) 6,948,204

Source: World Bank, World Development Indicators 2019.

Economy Overview

GDP

2014 2015 2016 2017 2018
GDP at Market Prices (current, billions of USD) 19.49 19.96 20.54 22.81 31
GDP Growth (annual %) 2.37 1.77 0.75 4.7 6.16

Source: World Bank, World Development Indicators 2019.

Value Added by Sector (% of GDP)

Indicator 2018 2019
Agriculture 13.49 13.76
Manufacturing 11.90 11.67
Industry 29.86 29.52
Services 75.64 75.72
Construction 3.58 3.58
Electricity, gas and water 4.53 4.56
Mining and quarrying 9.86 9.71
Education 14.85 15.10
Finance, real estate and business services 12.37 11.92
Public administration and Defense 12.49 12.67
Health and Social Work 3.19 3.26
Other services 3.84 3.82
Transport, storage and communication 12.37 12.39
Wholesale and retail trade, hotels and restaurants 17.29 17.35

Source: AFDB Socio Economic Database.

Trade Profile

Import Partners (Imported Value, thousands, USD)

2014 2015 2016 2017 2018
World 6,415,988 6,045,862 5,322,157 5,165,089 6,468,767
South Africa 2,754,270 2,326,521 2,176,772 2,042,230 2,523,514
Singapore 1,168,028 1,338,413 1,118,087 1,105,362 1,359,314
China 404,055 460,227 370,913 458,922 413,742
United Kingdom 210,395 98,001 92,452 115,401 227,674
Japan 155,110 129,911 100,569 124,669 217,078

Source: COMSTAT database

Export Partners (Exported Value, thousands, USD)

2014 2015 2016 2017 2018
World 3,871,574 3,410,659 3,341,151 3,483,611 4,037,945
South Africa 2,016,338 2,060,870 2,265,839 2,154,109 2,073,131
United Arab Emirates 96,056 147,837 116,683 222,944 731,911
Unspecified 804,117 577,551 487,528 525,278 594,383
Mozambique 574,122 408,254 266,409 363,538 384,465
Zambia 95,070 86,491 69,585 56,928 63,176

Source: COMSTAT database

Zimbabwe’s Top Import Products (USD ‘000)

Chapter Description 2014 2015 2016 2017 2018
All products 6,415,988 6,045,862 5,322,157 5,165,089 6,468,767
27 Mineral 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
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 489,204 481,289 408,651 520,387 666,058
87 Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof 545,847 460,054 342,863 350,519 603,818
31 Fertilizers 269,314 184,794 120,323 217,684 325,155
10 Cereals 331,649 409,879 517,921 361,764 269,708

Source: COMSTAT database

Zimbabwe’s Top Export Products (USD ‘000)

Chapter Description 2014 2015 2016 2017 2018
All products 3,871,574 3,410,659 3,341,151 3,483,611 4,037,945
71 Natural 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
24 Tobacco and manufactured tobacco substitutes 843,265 907,606 927,177 838,795 893,113
75 Nickel and articles thereof 570,214 428,935 434,404 436,209 525,294
26 Ores, slag and ash 368,006 339,408 380,973 469,623 497,182
72 Iron and steel 283,582 176,746 123,958 282,049 251,778

Source: COMSTAT database

Investment Profile

FDI Inflows (millions of USD)

Year 2014 2015 2016 2017 2018
FDI Inflows 545 421 372 349 745

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)

Year 2014 2015 2016 2017 2018
FDI Outflows 72.0 22.0 28.8 42.2

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 3,546 3,967 4,339 4,688 5,433

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

FDI Outward Stock (millions of USD)

Year 2014 2015 2016 2017 2018
FDI Outward Stock 487 509 538 580

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

2020 140/190
2019 155/190

Source: World Bank, Doing Business, 2020

Starting a Business

2020 Rank 167/190
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 Rank 146/190
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 Rank 159/190
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

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.

Country Snapshot

Population (2019, millions)¹ 14.64
Population Projections (2030, millions)¹ 17.59
Economically active population in agriculture (as % of Economically active population)12, 2019 50
Capital Harare
Surface Area (km²)² 390,760
Weather¹¹ In 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
Languages³ Official: Shona, Ndebele, English, and minority official including Chewa, Chibarwe, Kalanga, Koisan, Nambya, Ndau, Shangani, sign language, Sotho, Tonga, Tswana, Venda and Xhosa
Main Religions³ Main: Protestant (Apostolic, Pentecostal and other protestant), Roman Catholic, other Christian, Muslim, tradition, others and none
Time⁴ Central Africa Time (CAT) +0200 UTC
Driving Orientation⁵ Left Side
Internet Country Code⁶ .zw
Country Calling Code +263
Plug, Socket and Voltage⁷ Type D and G – 220V/50Hz
Currency US Dollar (USD) – 1/100 = Cent
Exchange Rate (As of 19 February 2019, per USD)⁸ N/A
GDP at Market Prices (2018, current, billions of USD)⁹ 31
GDP Growth (2018, annual %)⁹ 6.16
Average GDP Growth (2014-2018, annual %)⁹ 3.15
GDP per Capita, PPP (2018, current international $)⁹ 3,024
Inflation, Consumer Prices (2017, annual %)⁹ 0.90
Average Inflation, Consumer Prices (2013-2017, annual %)⁹ (0.32)
Total Reserves in Months of Imports (2017)⁹ 0.5

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”.
⁶Wikipedia, “List of Internet top-level domains”; and, Internet Assigned Numbers Authority, Root Zone Database.
⁷International Electrotechnical Commission, World Plugs.
⁸Reserve Bank of Zimbabwe.
⁹World Bank, World Development Indicators 2019.
¹¹Economist Intelligence Unit.
¹²AFDB Socioeconomic Database

Reasons to Invest in Zimbabwe

Source: Zimbabwe Investment Development Agency – ZIDA

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, Male 88.99
Labour Force, Total (number) 6,948,204

Source: World Bank, World Development Indicators 2019.

Economy Overview

GDP

2014 2015 2016 2017 2018
GDP at Market Prices (current, billions of USD) 19.49 19.96 20.54 22.81 31
GDP Growth (annual %) 2.37 1.77 0.75 4.7 6.16

Source: World Bank, World Development Indicators 2019.

Value Added by Sector (% of GDP)

Indicator 2018 2019
Agriculture 13.49 13.76
Manufacturing 11.90 11.67
Industry 29.86 29.52
Services 75.64 75.72
Construction 3.58 3.58
Electricity, gas and water 4.53 4.56
Mining and quarrying 9.86 9.71
Education 14.85 15.10
Finance, real estate and business services 12.37 11.92
Public administration and Defense 12.49 12.67
Health and Social Work 3.19 3.26
Other services 3.84 3.82
Transport, storage and communication 12.37 12.39
Wholesale and retail trade, hotels and restaurants 17.29 17.35

Source: AFDB Socio Economic Database.

Trade Profile

Import Partners (Imported Value, thousands, USD)

2014 2015 2016 2017 2018
World 6,415,988 6,045,862 5,322,157 5,165,089 6,468,767
South Africa 2,754,270 2,326,521 2,176,772 2,042,230 2,523,514
Singapore 1,168,028 1,338,413 1,118,087 1,105,362 1,359,314
China 404,055 460,227 370,913 458,922 413,742
United Kingdom 210,395 98,001 92,452 115,401 227,674
Japan 155,110 129,911 100,569 124,669 217,078

Source: COMSTAT database

Export Partners (Exported Value, thousands, USD)

2014 2015 2016 2017 2018
World 3,871,574 3,410,659 3,341,151 3,483,611 4,037,945
South Africa 2,016,338 2,060,870 2,265,839 2,154,109 2,073,131
United Arab Emirates 96,056 147,837 116,683 222,944 731,911
Unspecified 804,117 577,551 487,528 525,278 594,383
Mozambique 574,122 408,254 266,409 363,538 384,465
Zambia 95,070 86,491 69,585 56,928 63,176

Source: COMSTAT database

Zimbabwe’s Top Import Products (USD ‘000)

Chapter Description 2014 2015 2016 2017 2018
All products 6,415,988 6,045,862 5,322,157 5,165,089 6,468,767
27 Mineral 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
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 489,204 481,289 408,651 520,387 666,058
87 Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof 545,847 460,054 342,863 350,519 603,818
31 Fertilizers 269,314 184,794 120,323 217,684 325,155
10 Cereals 331,649 409,879 517,921 361,764 269,708

Source: COMSTAT database

Zimbabwe’s Top Export Products (USD ‘000)

Chapter Description 2014 2015 2016 2017 2018
All products 3,871,574 3,410,659 3,341,151 3,483,611 4,037,945
71 Natural 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
24 Tobacco and manufactured tobacco substitutes 843,265 907,606 927,177 838,795 893,113
75 Nickel and articles thereof 570,214 428,935 434,404 436,209 525,294
26 Ores, slag and ash 368,006 339,408 380,973 469,623 497,182
72 Iron and steel 283,582 176,746 123,958 282,049 251,778

Source: COMSTAT database

Investment Profile

FDI Inflows (millions of USD)

Year 2014 2015 2016 2017 2018
FDI Inflows 545 421 372 349 745

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)

Year 2014 2015 2016 2017 2018
FDI Outflows 72.0 22.0 28.8 42.2

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 3,546 3,967 4,339 4,688 5,433

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

FDI Outward Stock (millions of USD)

Year 2014 2015 2016 2017 2018
FDI Outward Stock 487 509 538 580

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

2020 140/190
2019 155/190

Source: World Bank, Doing Business, 2020

Starting a Business

2020 Rank 167/190
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 Rank 146/190
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 Rank 159/190
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

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.