Zimstat data in sync with RBZ auction impact on manufacturing
DATA released by the Zimbabwe National Statistics Agency (ZIMSTAT) Monday is in sync with the Reserve Bank of Zimbabwe (RBZ) auction allotments with signals of relative growth of the manufacturing sector across the country’s provinces.
The RBZ foreign exchange auction was incepted in June 2020 and current statistics show a corresponding impact of between 2% to 3% during the period.
As at December 2021, the auction platform had disbursed a total US$1,9 billion with about 62% of the total allotments going to support raw material needs.
The information which shows the current worth of provincial economies shows that in Harare Province where the total GDP is $294 billion, the manufacturing sector’s contribution rose from 21,9% to 24,3 % between 2019 and 2020.
“In a comparative period, out of Bulawayo’s $155 billion economy’s net worth, the manufacturing sector’s contribution jumped from 19,4% to 21,7% signifying the sector’s growth,” said the Zimstat report.
The trend was sustained throughout the provinces with Masvingo out of its $84 billion worth GDP witnessing manufacturing sector’s contribution jumping from 14% to 17,2%.
The Midlands Province saw manufacturing sector contribution jumping from 12,1 % to 14,6% towards the $130 billion provincial GDP.
Other provinces such as Matabeleland South $56 billion was a result of the manufacturing sector’s jump from 12,1% to 14,6%, Matabeleland North’s manufacturing sector from 13,9% to 16,2% and Mashonaland West from 10,2% to 11,6%.
The figures were the same for Mashonaland East which jumped from 15,6% to 18,5%, Mashonaland Central from 9,9% to 12,7% and Manicaland from 14,2% to 16,9%.