Online Reporter
Nelson Gahadza
Zimbabwe’s gross domestic product (GDP), at current prices, for the first quarter of 2025 rose to ZiG335 billion from ZiG299 billion in the fourth quarter of 2024.
The growth was driven by key economic sectors such as agriculture, electricity supply, information and communication and finance and insurance activities.
According to the Zimbabwe National Statistics Agency (ZimStat), the quarterly GDP figures provide an indication of changes in economic activities based on developments during the quarter.
Presenting the GDP figures yesterday, ZimStat manager national accounts, Mr Grown Chirongwe, said that during the quarter under review, selected industries that registered growth included agriculture (18,8 percent), electricity supply (6,1 percent), information and communication (4,3 percent), and finance and insurance activities (4,3 percent).
During the same quarter, mining and quarrying declined by 21,6 percent, accommodation and food services by 24,1 percent and water supply by 12,3 percent.
Mr Chirongwe added that the top five contributing industries to GDP in the first quarter of 2025 were manufacturing at 15 percent, followed by mining and quarrying at 12.4 percent, while agriculture recorded 11.7 percent.
“Wholesale and retail trade stood at 11.6 percent, while finance and insurance accounted for 11,2 percent,” he said.
According to the 2023 Economic Census conducted by ZimStat, the country’s GDP was rebased to ZiG168,5 trillion, equivalent to US$44,4 billion, up from the initial estimate of ZiG133,7 trillion (US$35,2 billion).
This 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.
The Zimbabwe National Chamber of Commerce, one of the country’s biggest and influential business lobby groups, estimates the sector to constitute about 64,1 percent, approximately US$42 billion, of the gross domestic product (GDP).
The Government is actively encouraging the formalisation of its informal sector through various initiatives aimed at increasing tax compliance, providing access to formal financial services, and offering legal protections.
These efforts include promoting electronic transactions, developing a Small to Medium Enterprises (SMEs) Formalisation Strategy, and streamlining the formalisation process.
Online Reporter