Economic Census Planned For Next Year To Assess Impact Of Informal Sector

Zimbabwe’s upcoming economic census, slated for next year, aims to comprehensively evaluate the nation’s economic landscape by including small, medium, and large businesses, the Zimbabwe National Statistics Agency (ZimStat) has announced.

With estimates indicating that 70% of the economy operates informally, ZimStat underscores the need for accurate data to gauge the true economic performance.

According to research from the central bank, the informal sector, valued at US$8.6 billion, generates an annual revenue of US$14.2 billion, with over US$2 billion circulating daily.

This sector forms a crucial part of Zimbabwe’s economic activity, necessitating detailed scrutiny in the forthcoming census. ZimStat outlined that the preparatory phase, which involves listing all establishments operating in the country, will take place from August 1 to December 31 this year.

The actual census will encompass large and medium establishments, while small establishments will undergo sampling surveys starting in April 2025, with monthly data collection.

The agency clarified that the census will exclude certain sectors like agriculture, public administration, and household activities, focusing instead on generating baseline statistics crucial for understanding economic structure, local value chain linkages, and geographical distribution of economic activities.

Moreover, the census aims to compile data essential for gross domestic product calculations and to develop a comprehensive business register.

Highlighting the census’s importance, ZimStat emphasized its role in providing accurate and timely data for evidence-based policymaking, strategic decision-making by economic agents, and fostering investment in new product lines and regions.

The initiative, scheduled for every five years, seeks to track economic dynamics over time and cater to diverse economic sectors’ specific needs.

Initially proposed by Finance Minister Mthuli Ncube in November last year, the economic census aims to empower stakeholders across government, industry, and academia with critical insights into Zimbabwe’s economic landscape, aiding in informed development and investment strategies nationwide.