Overview: The economy has been in decline for more than a decade with falling imports and growing foreign debt. Economic difficulties stem from a chronically depressed level of copper production and ineffective economic policies. In 1991 real GDP fell by 2% and in 1992 by 3% more. An annual population growth of 3% has brought a decline in per capita GDP of 50% over the past decade. A high inflation rate has also added to Zambia's economic woes in recent years.

National product: GDP - purchasing power equivalent - $7.3 billion (1993 est.)

National product real growth rate: -2.8% (1992)

National product per capita: $800 (1993 est.)

Inflation rate (consumer prices): 191% (1992)

Unemployment rate: NA%

Budget:
revenues: $665 million
expenditures: $767 million, including capital expenditures of $300 million (1991 est.)

Exports: $1 billion (f.o.b., 1992 est.)
commodities: copper, zinc, cobalt, lead, tobacco
partners: EC countries, Japan, South Africa, US, India

Imports: $1.2 billion (c.i.f., 1992 est.)
commodities: machinery, transportation equipment, foodstuffs, fuels, manufactures
partners: EC countries, Japan, Saudi Arabia, South Africa, US

External debt: $7.6 billion (1991)

Industrial production: growth rate -2% (1991); accounts for 40% of GDP

Electricity:
capacity: 2,775,000 kW
production: 12 billion kWh
consumption per capita: 1,400 kWh (1991)

Industries: copper mining and processing, construction, foodstuffs, beverages, chemicals, textiles, and fertilizer

Agriculture: accounts for 12% of GDP and 85% of labor force; crops - corn (food staple), sorghum, rice, peanuts, sunflower, tobacco, cotton, sugarcane, cassava; cattle, goats, beef, eggs

Illicit drugs: role as regional transshipment center for mandrax and heroin

Economic aid:
recipient: US commitments, including Ex-Im (1970-89), $4.8 billion; Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $4.8 billion; OPEC bilateral aid (1979-89), $60 million; Communist countries (1970-89), $533 million

Currency: 1 Zambian kwacha (ZK) = 100 ngwee
Exchange rates: Zambian kwacha (ZK) per US$1 - 344.8276 (October 1993), 156.25 (1992), 61.7284 (1991), 28.9855 (1990), 12.9032 (1989)

Fiscal year: calendar year

NOTE: The information regarding Zambia on this page is re-published from the 1995 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Zambia Economy 1995 information contained here. All suggestions for corrections of any errors about Zambia Economy 1995 should be addressed to the CIA.