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Zambia Economy 2015
http://www.theodora.com/wfbcurrent/zambia/zambia_economy.html
SOURCE: 2015 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on June 20, 2014

Economy - overview:
Zambia's economy has experienced strong growth in recent years, with real GDP growth in 2005-13 more than 6% per year. Privatization of government-owned copper mines in the 1990s relieved the government from covering mammoth losses generated by the industry and greatly increased copper mining output and profitability to spur economic growth. Copper output has increased steadily since 2004, due to higher copper prices and foreign investment. Zambia's dependency on copper makes it vulnerable to depressed commodity prices, but record high copper prices and a bumper maize crop in 2010 helped Zambia rebound quickly from the world economic slowdown that began in 2008. Zambia has made some strides to improve the ease of doing business. Regulatory changes by the current government in 2012-2013 included Statutory Instruments (SI) Number 33 (mandating use of the kwacha for domestic transactions) and SI Number 55 (monitoring foreign exchange transactions). Along with problems of fiscal management and weakening global copper prices, these SI's were perceived as undermining confidence in Zambia's economy and currency, leading to sharp depreciation of the kwacha in March 2014. In response, the Minister of Finance revoked SI 33 and 55 in late March 2014. Despite a strong economy, poverty remains a significant problem in Zambia, made worse by a high birth rate, relatively high HIV/AIDS burden, and by market distorting agricultural policies.

GDP (purchasing power parity):
$25.47 billion (2013 est.)
country comparison to the world: 124

$24.01 billion (2012 est.)
$22.39 billion (2011 est.)
note: data are in 2013 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$22.24 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
6% (2013 est.)
country comparison to the world: 37

7.2% (2012 est.)
6.8% (2011 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$1,800 (2013 est.)
country comparison to the world: 196

$1,700 (2012 est.)
$1,600 (2011 est.)
note: data are in 2013 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
14.5% of GDP (2013 est.)
country comparison to the world: 111

19.4% of GDP (2012 est.)
23.7% of GDP (2011 est.)
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 60%
government consumption: 26.5%
investment in fixed capital: 19.1%
investment in inventories: 1%
exports of goods and services: 36.2%
imports of goods and services: -42.9%

(2013 est.)

GDP - composition, by sector of origin:
agriculture: 19.8%
industry: 33.8%
services: 46.5% (2013 est.)

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:
8% (2013 est.)
country comparison to the world: 25
[see also: Industrial production growth rate country ranks ]

Labor force:
6.275 million (2013 est.)
country comparison to the world: 66
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 85%
industry: 6%
services: 9% (2004)

Unemployment rate:
15% (2008 est.)
country comparison to the world: 140

50% (2000 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
60.5% (2010)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 1.5%
highest 10%: 47.4% (2010)

Distribution of family income - Gini index:
57.5 (2010)
country comparison to the world: 9

50.8 (2004)
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $4.814 billion
expenditures: $6.687 billion (2013 est.)

Taxes and other revenues:
21.6% of GDP (2013 est.)
country comparison to the world: 150
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-8.4% of GDP (2013 est.)
country comparison to the world: 199
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
31.8% of GDP (2013 est.)
country comparison to the world: 114

29.5% of GDP (2012 est.)
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
7.1% (2013 est.)
country comparison to the world: 189

6.6% (2012 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
8.39% (31 December 2009)
country comparison to the world: 12

14.49% (31 December 2008)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
10.4% (31 December 2013 est.)
country comparison to the world: 64

12.15% (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$2.299 billion (31 December 2013 est.)
country comparison to the world: 122

$2.185 billion (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$5.047 billion (31 December 2013 est.)
country comparison to the world: 128

$4.86 billion (31 December 2012 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$5.458 billion (31 December 2013 est.)
country comparison to the world: 110

$3.833 billion (31 December 2012 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$3.004 billion (31 December 2012 est.)
country comparison to the world: 81

$4.009 billion (31 December 2011)
$NA (31 December 2010 est.)
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$1.25 billion (2013 est.)
country comparison to the world: 123

-$189.9 million (2012 est.)
[see also: Current account balance country ranks ]

Exports:
$8.547 billion (2013 est.)
country comparison to the world: 100

$9.414 billion (2012 est.)
[see also: Exports country ranks ]

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

Exports - partners:
China 43.4%, South Africa 7.2%, Democratic Republic of the Congo 6.7%, South Korea 5.4%, India 4.7%, UAE 4.3%, Egypt 4.1% (2012)

Imports:
$8.216 billion (2013 est.)
country comparison to the world: 109

$7.961 billion (2012 est.)
[see also: Imports country ranks ]

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

Imports - partners:
South Africa 36.7%, Democratic Republic of the Congo 19.8%, China 10.4%, Kuwait 6% (2012)

Reserves of foreign exchange and gold:
$2.833 billion (31 December 2013 est.)
country comparison to the world: 110

$3.042 billion (31 December 2012 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$5.985 billion (31 December 2013 est.)
country comparison to the world: 115

$5.618 billion (31 December 2012 est.)
[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 -

5.3 (2013 est.)
5.1 (2012 est.)
4,797.1 (2010 est.)
5,046.1 (2009)
3,512.9 (2008)


NOTE: The information regarding Zambia on this page is re-published from the 2015 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Zambia Economy 2015 information contained here. All suggestions for corrections of any errors about Zambia Economy 2015 should be addressed to the CIA.



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