The economy of Zimbabwe shrank 6.5 percent year-on-year in 2019, following a 4 percent growth in the previous year. It was the first economic contraction since 2008, amid declines in agriculture (-18 percent); construction (-14 percent); mining (-11.9 percent) and manufacturing (-5.9 percent).

GDP Annual Growth Rate in Zimbabwe averaged 2.71 percent from 1961 until 2019, reaching an all time high of 22.57 percent in 1970 and a record low of -17.20 percent in 2003. This page provides - Zimbabwe GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Zimbabwe GDP Annual Growth Rate - values, historical data and charts - was last updated on October of 2020.

GDP Annual Growth Rate in Zimbabwe is expected to reach -8.00 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Zimbabwe GDP Annual Growth Rate is projected to trend around 7.00 percent in 2021 and 5.50 percent in 2022, according to our econometric models.

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Zimbabwe GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-6.50 4.00 22.57 -17.20 1961 - 2019 percent Yearly

Zimbabwe GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate -6.50 4.00 22.57 -17.20 percent [+]
GDP 21.44 24.31 24.31 1.05 USD Billion [+]
GDP per capita 1183.10 1305.80 1524.30 725.60 USD [+]
GDP Per Capita Ppp 2835.90 3130.00 3653.90 1739.20 USD [+]


Zimbabwe GDP Annual Growth Rate
Zimbabwe’s economy, once one of the strongest in Africa, has one of the lowest GDP per capita in the world. Years of mismanagement and endemic corruption has completely destroyed the country. The main sources of government revenues are exports of nickel, platinum, diamond and tobacco. To make things even worst, in response to political violence and human rights abuse, Zimbabwe has been subjected to numerous sanctions. As a result, the country experienced ten consecutive years of contraction and had one of the worst cases of hyperinflation of all time which resulted in the suspension of the national currency. The current sluggish growth is expected to endure as government fails to address structural obstacles to growth such as limited capital resource and deficient infrastructure.