Zimbabwe's Manufacturing Sector Drives Economic Growth with Over $1.4 Billion in New Investments

Strategic Insights -

Zimbabwe's economic growth has been gaining momentum in recent years, driven by agriculture, mining, tourism, and a significant services sector. However, the manufacturing sector has emerged as the top contributor to the country's gross domestic product (GDP), accounting for 15.3 percent in 2024. The sector's growth is attributed to new investments worth over $1.4 billion for expansions in 2025, marking a significant shift towards industrialisation. This surge in manufacturing activity reflects renewed confidence in Zimbabwe's economic reforms and the success of the country's industrialisation agenda.

Key Takeaways:

  • The manufacturing sector contributed 15.3 percent to Zimbabwe's GDP in 2024, surpassing mining, wholesale and retail trade, financial services, and agriculture.
  • The sector has attracted over $1.4 billion in new investments for expansions in 2025, driving structural transformation, import substitution, and job creation.
  • The investments will drive growth across multiple value chains, reflecting the resilience of Zimbabwean industry and the positive impact of policies implemented under the Second Republic.
  • Minister Professor Mthuli Ncube emphasized the importance of these investments, stating they are driving the country towards Vision 2030.
  • The sector's growth is expected to have a positive impact on the economy, contributing to the country's industrialisation agenda.

Statistics:

  • Manufacturing sector contributed 15.3 percent to Zimbabwe's GDP in 2024.
  • Over $1.4 billion in new investments attracted for expansions in 2025.
  • 14.5 percent: Mining sector's contribution to Zimbabwe's GDP in 2024.
  • 11.9 percent: Wholesale and retail trade sector's contribution to Zimbabwe's GDP in 2024.
  • 10.8 percent: Financial services sector's contribution to Zimbabwe's GDP in 2024.
  • 9.3 percent: Agriculture sector's contribution to Zimbabwe's GDP in 2024.

Sources:

  • "2025 Mid-Term Budget Statement"
  • Presentation by Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube at the ZANU-PF Annual People's Conference in Mutare.