Zim’s GDP surges to ZW$1,2 trillion; up from $187,4 billion – ZIMSTAT

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By Alois Vinga

ZIMBABWE’s Gross Domestic Product figure has surged to ZWL$1,157 trillion amid corresponding growth in the country’s provincial economies worth, the Zimbabwe National Statistics Agency (ZIMSTAT) revealed this week.

Officially opening an event to launch the country’s provincial GDP figures, ZIMSTAT director general Taguma Mahonde said the latest figures are part of efforts to complement the government’s ongoing devolution exercise.

“Data shows that the top five provinces such as Harare had the highest GDP of ZWL$294,2 billion, followed by Bulawayo at ZWL$155,6 billion, Mashonaland West ZWL$133 billion, Midlands ZWL$133 billion and Manicaland at ZWL$103 billion.

“The rest of the provinces have a GDP of  less than ZWL$100 billion to give us a total national GDP of ZWL$1,157 trillion as at December 31 2020,” he said.

“The stats are truly reflecting the extent of inequalities existing between the provinces as well as industrialisation gaps.

“Using the findings, policy makers must take note of the existing opportunities in the provinces and set up value-added industries in order to stop the current trend where raw materials continue to leave the provinces and in the process impoverishing the locals by transferring their job opportunities,” he said.

ZIMSTAT’s figures show that the figure has risen from $187,4 billion recorded in 2019 with experts partly attributing the increase to inflationary pressures.

The wholesale and retail trade, repair of motor vehicles were the major contributor to GDP with 22.7% in 2019, and 21.8% in 2020.

Major contributors towards Harare’s GDP were the wholesale and retail trade, repair of motor vehicles was a major contributor to GDP with 22,7% in 2019, and jumped to 21,8% in 2020 while the contribution of the sector to GDP rose to 24, 3% in 2020.

The per capita GDP in Harare province was 16,564 Zimbabwe dollars in 2019 and it reached 104,674 ZWL in 2020.

In Bulawayo, the Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles also contributed towards the GDP from 31,4% in 2019 and 30,5% in 2020.

In Manicaland wholesale and retail trade contributed 22,7% towards the provincial GDP.

However in Mashonaland Central, agriculture, hunting and fishing and forestry had the highest contribution to provincial GDP at 30.8% in 2019 and 23.3% in 2020.

Mining and quarrying in this province was the second highest economic activity contributing 18,4% to the GDP in 2019 and 17.4% in 2020.

Economist Prosper Chitambara hailed the statistics for being reflective of the situation on the ground but warned that across provinces there is still need to revamp geographically relevant industries.