Q2 GDP hits ZiG412 bln as economy grows 5,8pc

Business Reporter

Zimbabwe’s gross domestic product (GDP), at constant prices, grew by 5,8 percent to ZiG412 billion in the second quarter of 2026 from ZiG389,7 billion in the first quarter of the year, driven by manufacturing, mining and quarrying, agriculture and wholesale and trade.

According to the Zimbabwe National Statistics Agency (ZimStat), Zimbabwe’s GDP estimate at current prices during the second quarter of 2026 was ZiG457 billion, up 7,7 percent from ZiG424,6 billion in the first quarter.

ZimStat said that, on a quarter-to-quarter basis, the top 5 industries that grew in the second quarter of 2026 were mining and quarrying at 33,3 percent; accommodation and food services, 5,1 percent; water supply and sewage, waste management and remediation activities, 4,7 percent; wholesale and retail, 4,5 percent and agriculture, fishing and forestry, 4 percent.

And a year-on-year basis, the top five industries that grew in the second quarter of 2026 were water supply and sewage, waste management and remediation, 12,2 percent; human health 9,8 percent; real estate 8, 2 percent; transport 7,8 percent and agriculture, fishing and forestry 7,3 percent

ZimStat said the top five contributing industries in terms of value added in the second quarter of 2026 were manufacturing at 16,2 percent, mining and quarrying at 15,4 percent, agriculture at 12 percent, wholesale and trade at 10,8 percent and finance and insurance at 6,1 percent.

“Then, for the year-on-year growth rates, from 2025 to 2026, we had the year-on-year growth rates drop from 6,5 percent in the first quarter of 2026 to 3,1 percent in the second quarter of 2026,” ZimStat said.

Zimbabwe recorded an estimated full year GDP growth rate of 8,3 percent in 2025, driven by agricultural recovery from El Niño, strong mining output (particularly gold) and a construction surge.

Finance, Economic Development and Investment Promotion Minister Mthuli Ncube has projected a growth rate of 5 percent for 2026, citing the likely negative impact of El Niño-induced drought.

While the Treasury and the World Bank both see expansion at 5 percent, the International Monetary Fund estimates growth to come in at a close 4,6 percent expansion following the high baseline set in 2025.

Sound fiscal discipline, stable exchange rates and single-digit inflation trends are expected to support this ongoing resilience.