Business Correspondent
Zimbabwe has moved up the rankings of Africa’s largest economies, with gross domestic product (GDP) projected to reach US$65.92 billion in 2026, according to the International Monetary Fund’s (IMF) October 2026 World Economic Outlook.
The latest projections place Zimbabwe 14th on the continent, ahead of Cameroon, whose economy is estimated at US$64.81 billion, and Tunisia, at US$62.74 billion.
The improved ranking marks a recovery from earlier estimates, which placed Zimbabwe 17th in 2025 with a GDP of US$51.22 billion. The IMF’s April 2026 projections had ranked the country 16th, with an estimated economy of US$56.71 billion.
Zimbabwe’s economy is forecast to grow by 5% in 2026, following an estimated expansion of 8.3% in 2025, supported by stronger mining activity, recovering agricultural production, favourable gold prices and remittance inflows.
The latest rankings underline Zimbabwe’s improved position in terms of the estimated dollar value of its economic output, while highlighting persistent challenges surrounding currency stability, inflation and access to international financing.
Despite the improvement in its economic ranking, Zimbabwe continues to grapple with currency instability, high inflation and significant external debt arrears that have constrained its access to international financing.
The widespread use of the US dollar has helped households and businesses preserve purchasing power amid repeated episodes of local currency depreciation. However, it has also limited the Reserve Bank of Zimbabwe’s control over domestic monetary conditions.
The government introduced the Zimbabwe Gold (ZiG) currency in April 2024 in an effort to restore monetary stability, but the US dollar remains dominant in domestic transactions.
The US dollar accounts for about two-thirds of payments by value in Zimbabwe’s national payment system, according to an IMF assessment published in May 2026.
The country’s economic performance is also affected by the distinction between nominal GDP and the actual living standards of its population.
Nominal GDP measures the value of goods and services produced in an economy, expressed in monetary terms. Its dollar value can change because of exchange-rate movements and revisions to national accounts, meaning an improvement in the rankings does not necessarily translate into a corresponding increase in household incomes or purchasing power.
According to the IMF October 2026 World Economic Outlook, South Africa remains Africa’s largest economy, with a projected nominal GDP of US$489.1 billion, followed by Egypt at US$442.9 billion and Nigeria at US$386.7 billion. Algeria ranks fourth with US$331.9 billion, ahead of Morocco at US$195.6 billion, Angola at US$157.3 billion and Kenya at US$151.2 billion. Ghana occupies eighth place with US$128.6 billion, followed by Ethiopia at US$127.1 billion, the Democratic Republic of Congo at US$122.3 billion, Côte d’Ivoire at US$110.4 billion, Tanzania at US$96.2 billion and Uganda at US$72.2 billion. Zimbabwe ranks 14th with a projected GDP of US$65.9 billion, while Cameroon completes the top 15 with US$64.8 billion.
The IMF’s October 2026 World Economic Outlook provides updated estimates and projections for economies worldwide, offering a basis for comparing economic performance across countries.
