The Zimbabwe National Statistics Agency (ZimStat) will conduct an economic census next year to assess the true performance of the nation’s economy. The census will include small, medium, and large businesses. Current estimates indicate the economy is 70% informal and 30% formal.
The central bank’s research values the informal sector at $8.6 billion, with an annual revenue generation of $14.2 billion. Additionally, over $2 billion circulates daily in the informal sector.
In a statement, ZimStat announced that the listing of businesses operating in Zimbabwe will occur this year from August 1 to December 31. The economic census aims to provide comprehensive baseline statistics on the economy’s size and structure. It will also gauge industry interdependence potential through local value chain linkages and offer insights into the geographic spread of businesses and economic activities nationwide.
A census will be conducted for large and medium establishments, while a sample survey will cover small businesses. The survey for small businesses will begin in April 2025 and will be conducted monthly, with respondents expected to complete weekly record books.
The census will exclude establishments in agriculture, forestry, fishing, public administration, defense, compulsory social security, household employment, and extraterritorial organizations.
ZimStat emphasized that the economic census aims to generate key information for gross domestic product (GDP) compilation and develop a comprehensive statistical business register. The data will help understand the economy’s structure, size, and dynamics, aiding evidence-based policy formulation and decision-making.
The census will be conducted every five years to track economic activities over time. It will help meet the specific needs of different economic sectors and support various purposes, including assessing the market potential for new and existing products, facilitating investment decisions, and promoting regional capital investment.
Finance, Economic Development, and Investment Promotion Minister Mthuli Ncube first announced the economic census last November.
ZimStat highlighted that the census would be a valuable tool for the government, industry leaders, business owners, and other stakeholders. It will facilitate decisions on new establishment locations, and investment in new product lines, and provide data for research purposes.
The upcoming economic census is ready to offer a detailed snapshot of Zimbabwe’s economic landscape, informing strategic decisions and promoting sustainable growth.
Source: Newsday
