High growth in accommodation, food services industry

Tanaka Mahanya

ZIMBABWE National Statistics Agency (ZimStat) say the accommodation and food services industry recorded the highest growth rate of 23.7 percent last year.

ZimStat said industry was dominated by food services, which accounted for 60.8 percent, and 39.2 percent for accommodation.

“Finance and insurance recorded 15.6 percent, while information and communication had 14.1 percent, mining and quarrying (10.5 percent), transport and storage (6.6 percent) and agriculture (6.2 percent).”

The manufacturing industry was dominated by food products, beverages and tobacco.

“Beverages and tobacco accounted for 50.5 percent, while food products accounted for 18.5 percent.

“The mining and quarrying industry is largely driven by mining of metal ores which accounted for 78.1 percent of mining value added.

“These include gold, platinum group of metals, nickel, and lithium, among others.”

In terms of value added, the top five contributing industries were trade, mining, agriculture, manufacturing, finance and insurance.

Last year, the economy recorded a growth rate of 6.5 percent from the 2021 estimate.