The economy of Zimbabwe is mostly dependent on agriculture and mineral resources.The major industrial sectors in Zimbabwe are iron, steel, chemicals, food processing, clothing, textiles, plastic goods, furniture and metal products.
Major exported products of Zimbabwe are textiles, chrome alloys, asbestos, gold, coal, platinum, copper etc.
Proper utilization of rich mineral resources can strengthen the economy of Zimbabwe.
The energy sector of Zimbabwe is mostly dependent on hydroelectric power and thermal power. Zimbabwe’s energy sector is less dependent on oil resources and it imports 40% of its total electric power demand. Zimbabwe imports around 1.2 billion liters of oil per year.
The major agricultural products of Zimbabwe are corn and tobacco and cotton. Cotton and tobacco are the two agricultural products which are exported. Some other agricultural products include tea, wheat, sugarcane, coffee, peanuts, etc. Agriculture contributes 15% to the Gross Domestic Product.
GDP(Gross Domestic Product):
In 2005 Eastern Standard Time the Gross Domestic Product of Zimbabwe was U.S. $3.2 billion, the real GDP growth rate was -5.3% and real per capita GDP was U.S. $520.
In the year 2002, the unemployment rate in Zimbabwe was 70% and the population below poverty line was 70%.
The major industries in Zimbabwe are manufacturing, public administration, commerce, mining, transport and communication. The leading trading partners are U.S.( exports U.S. $47.58 million and imports U.S. $103.28 million�in 2006), South Africa, and Germany.
Last Updated on : 25th June 2013