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Zambia Economy 2019

SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES











Zambia Economy 2019
SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 08, 2019

Economy - overview:
Zambia had one of the world’s fastest growing economies for the ten years up to 2014, with real GDP growth averaging roughly 6.7% per annum, though growth slowed during the period 2015 to 2017, due to falling copper prices, reduced power generation, and depreciation of the kwacha. Zambia’s lack of economic diversification and dependency on copper as its sole major export makes it vulnerable to fluctuations in the world commodities market and prices turned downward in 2015 due to declining demand from China; Zambia was overtaken by the Democratic Republic of Congo as Africa’s largest copper producer. GDP growth picked up in 2017 as mineral prices rose.

Despite recent strong economic growth and its status as a lower middle-income country, widespread and extreme rural poverty and high unemployment levels remain significant problems, made worse by a high birth rate, a relatively high HIV/AIDS burden, by market-distorting agricultural and energy policies, and growing government debt. Zambia raised $7 billion from international investors by issuing separate sovereign bonds in 2012, 2014, and 2015. Concurrently, it issued over $4 billion in domestic debt and agreed to Chinese-financed infrastructure projects, significantly increasing the country’s public debt burden to more than 60% of GDP. The government has considered refinancing $3 billion worth of Eurobonds and significant Chinese loans to cut debt servicing costs.

GDP (purchasing power parity):
$68.93 billion (2017 est.)
$66.66 billion (2016 est.)
$64.25 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 102
[see also: GDP country ranks ]

GDP (official exchange rate):
$25.71 billion (2017 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.4% (2017 est.)
3.8% (2016 est.)
2.9% (2015 est.)
country comparison to the world: 103
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$4,000 (2017 est.)
$4,000 (2016 est.)
$4,000 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 178
[see also: GDP - per capita country ranks ]

Gross national saving:
38.3% of GDP (2017 est.)
37.3% of GDP (2016 est.)
38.9% of GDP (2015 est.)
country comparison to the world: 11
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 52.6% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 21% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 27.1% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 1.2% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 43% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -44.9% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 7.5% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 35.3% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 57% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
corn, sorghum, rice, peanuts, sunflower seeds, vegetables, flowers, tobacco, cotton, sugarcane, cassava (manioc, tapioca), coffee; cattle, goats, pigs, poultry, milk, eggs, hides

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

Industrial production growth rate:
4.7% (2017 est.)
country comparison to the world: 62
[see also: Industrial production growth rate country ranks ]

Labor force:
6.898 million (2017 est.)
country comparison to the world: 68
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 54.8%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 9.9%
[see also: Labor force - by occupation - industry country ranks ]
services: 35.3% (2017 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
15% (2008 est.)
50% (2000 est.)
country comparison to the world: 173
[see also: Unemployment rate country ranks ]

Population below poverty line:
54.4% (2015 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 1.5%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 47.4% (2010)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
57.5 (2013)
50.8 (2004)
country comparison to the world: 7
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: 4.473 billion (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 6.357 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
17.4% (of GDP) (2017 est.)
country comparison to the world: 169
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-7.3% (of GDP) (2017 est.)
country comparison to the world: 195
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
63.1% of GDP (2017 est.)
60.7% of GDP (2016 est.)
country comparison to the world: 66
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
6.6% (2017 est.)
17.9% (2016 est.)
country comparison to the world: 192
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
9.1% (31 December 2012)
19% (31 December 2011)
country comparison to the world: 29
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
12.5% (31 December 2017 est.)
15.5% (31 December 2016 est.)
country comparison to the world: 66
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.764 billion (31 December 2017 est.)
$1.582 billion (31 December 2016 est.)
country comparison to the world: 137
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$1.764 billion (31 December 2017 est.)
$1.582 billion (31 December 2016 est.)
country comparison to the world: 146
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$5.401 billion (31 December 2017 est.)
$4.167 billion (31 December 2016 est.)
country comparison to the world: 129
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$3.004 billion (31 December 2012 est.)
$4.009 billion (31 December 2011 est.)
$2.817 billion (31 December 2010 est.)
country comparison to the world: 93
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$1.006 billion (2017 est.)
-$934 million (2016 est.)
country comparison to the world: 142
[see also: Current account balance country ranks ]

Exports:
$8.216 billion (2017 est.)
$6.514 billion (2016 est.)
country comparison to the world: 98
[see also: Exports country ranks ]

Exports - partners:
Switzerland 44.8%, China 16.1%, Democratic Republic of the Congo 6.2%, Singapore 6%, South Africa 5.9% (2017)

Exports - commodities:
copper/cobalt, cobalt, electricity; tobacco, flowers, cotton

Imports:
$7.852 billion (2017 est.)
$6.539 billion (2016 est.)
country comparison to the world: 113
[see also: Imports country ranks ]

Imports - commodities:
machinery, transportation equipment, petroleum products, electricity, fertilizer, foodstuffs, clothing

Imports - partners:
South Africa 28.2%, Democratic Republic of the Congo 20.8%, China 12.9%, Kuwait 5.4%, UAE 4.6% (2017)

Reserves of foreign exchange and gold:
$2.082 billion (31 December 2017 est.)
$2.353 billion (31 December 2016 est.)
country comparison to the world: 121
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$11.66 billion (31 December 2017 est.)
$9.562 billion (31 December 2016 est.)
country comparison to the world: 108
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
NA
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
NA
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Zambian kwacha (ZMK) per US dollar -
9.2 (2017 est.)
10.3 (2016 est.)
10.3 (2015 est.)
8.6 (2014 est.)
6.2 (2013 est.)


NOTE: 1) The information regarding Zambia on this page is re-published from the 2019 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Zambia Economy 2019 information contained here. All suggestions for corrections of any errors about Zambia Economy 2019 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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