Zim now fifth largest economy in Sadc
Mukudzei Chingwere
Herald Reporter
Zimbabwe is now the fifth-largest economy in Southern Africa, following a major revision of its Gross Domestic Product (GDP) to capture previously unrecorded economic activity, particularly new businesses that started operating after 2019, as well as activity in the informal sector. According to the 2023 Economic Census conducted by the Zimbabwe National Statistics Agency (Zimstat), the country’s GDP has been rebased to ZiG168,5 trillion – equivalent to US$44,4 billion – up from the initial estimate of ZiG133,7 trillion (US$35,2 billion). The adjustment reflects expanded coverage of economic activity, particularly in the informal sector, and the inclusion of new business entities that have emerged since the last base year in 2019. It also highlights years of silent growth that had gone unaccounted for, signaling renewed momentum in Zimbabwe’s economic recovery. The process of rebasing an economy involves adjusting GDP figures to reflect the current economic structure by including previously uncounted economic activities. The revised GDP figures place Zimbabwe as the fifth-largest economy in the region, behind only South Africa (US$400 billion), Angola (US$115 billion), Tanzania (US$80 billion) and the Democratic Republic of Congo (US$71 billion), based on the 2024 projections by the International Monetary Fund (IMF). ReadMore