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Zimbabwe Economy 1998 https://greekorthodoxchurch.org/wfb1998/zimbabwe/zimbabwe_economy.html SOURCE: 1998 CIA WORLD FACTBOOK Economy - overview Agriculture employs 27% of the labor force of this landlocked nation and supplies almost 25% of exports. Mining accounts for only 5% of both GDP and employment, but minerals and metals account for about 20% of exports. The government is working to consolidate earlier progress in developing a market-oriented economy. Although the IMF suspended support for Zimbabwe's economic structural adjustment program (ESAP) in 1995, due to government failure to meet key targets, recent talks between the government and the Fund have held hope for renewed support if Zimbabwe remains committed to budgetary targets. A key element of the budget is the Zimbabwe Program for Socio-Economic Transformation (ZIMPREST), the second phase of ESAP, whose goals include increased commercialization and privatization of government-owned enterprises and more "outward-looking" trade and investment policies. The World Bank resumed balance of payments support to Zimbabwe in early 1998. Government officials face the difficult task of restraining expenditures in their effort to keep inflation within bounds. GDP purchasing power parity - $24.9 billion (1996 est.) GDP - real growth rate 8.1% (1996 est.) GDP - per capita purchasing power parity - $2,200 (1996 est.) GDP - composition by sector
Inflation rate - consumer price index 21.4% (1996) Labor force
Unemployment rate at least 45% (1994 est.) Budget
Industries mining (coal, clay, numerous metallic and nonmetallic ores), copper, steel, nickel, tin, wood products, cement, chemicals, fertilizer, clothing and footwear, foodstuffs, beverages Industrial production growth rate 10% (1994) Electricity - capacity 2.148 million kW (1995) Electricity - production 7.1 billion kWh (1995) Electricity - consumption per capita 792 kWh (1995) Agriculture - products corn, cotton, tobacco, wheat, coffee, sugarcane, peanuts; cattle, sheep, goats, pigs Exports
Imports
Debt - external $4.8 billion (1996) Economic aid
Currency 1 Zimbabwean dollar (Z$) = 100 cents Exchange rates Zimbabwean dollars (Z$) per US$1 - 18.7970 (January 1998), 11.8906 (1997), 9.9206 (1996), 8.6580 (1995), 8.1500 (1994), 6.4725 (1993) Fiscal year
1 July - 30 June
NOTE: The information regarding Zimbabwe on this page is re-published from the 1998 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Zimbabwe Economy 1998 information contained here. All suggestions for corrections of any errors about Zimbabwe Economy 1998 should be addressed to the CIA. |