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Zambia Economy 2013
http://www.theodora.com/wfbcurrent/zambia/zambia_economy.html
SOURCE: 2013 CIA WORLD FACTBOOK AND OTHER SOURCES
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Page last updated on February 15, 2013

Economy - overview:
Zambia's economy has experienced strong growth in recent years, with real GDP growth in 2005-12 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. In 2005, Zambia qualified for debt relief under the Highly Indebted Poor Country Initiative, consisting of approximately US$6 billion in debt relief. Poverty remains a significant problem in Zambia, despite a stronger economy. 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. A high birth rate, relatively high HIV/AIDS burden, and market distorting agricultural policies have meant that Zambia's economic growth has not dramatically decreased the stubbornly high poverty rates.

GDP (purchasing power parity):
$23.68 billion (2012 est.)
country comparison to the world: 124

$22.24 billion (2011 est.)
$20.87 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$20.68 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
6.5% (2012 est.)
country comparison to the world: 32

6.6% (2011 est.)
7.6% (2010 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$1,700 (2012 est.)
country comparison to the world: 200

$1,600 (2011 est.)
$1,600 (2010 est.)
note: data are in 2012 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 20.2%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 33.5%
services: 46.3% (2012 est.)

Labor force:
5.839 million (2012 est.)
country comparison to the world: 67
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 85%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 6%
services: 9% (2004)

Unemployment rate:
14% (2006 est.)
country comparison to the world: 138

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

Population below poverty line:
64% (2006)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 1.2%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 38.8% (2004)

Distribution of family income - Gini index:
50.8 (2004)
country comparison to the world: 20

52.6 (1998)
[see also: Distribution of family income - Gini index country ranks ]

Investment (gross fixed):
20.5% of GDP (2012 est.)
country comparison to the world: 90
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $4.092 billion
[see also: Budget revenues country ranks ]
expenditures: $5.369 billion (2012 est.)

Taxes and other revenues:
19.8% of GDP (2012 est.)
country comparison to the world: 162
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-6.2% of GDP (2012 est.)
country comparison to the world: 177
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
31.2% of GDP (2012 est.)
country comparison to the world: 110

26.7% of GDP (2011 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
6.5% (2012 est.)
country comparison to the world: 171

8.7% (2011 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
8.39% (31 December 2009)
country comparison to the world: 11

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

Commercial bank prime lending rate:
13% (31 December 2012 est.)
country comparison to the world: 20

18.84% (31 December 2011 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.919 billion (31 December 2012 est.)
country comparison to the world: 127

$1.631 billion (31 December 2011 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$4.906 billion (31 December 2012 est.)
country comparison to the world: 129

$4.075 billion (31 December 2011 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$3.956 billion (31 December 2012 est.)
country comparison to the world: 121

$3.293 billion (31 December 2011 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$4.009 billion (31 December 2011)
country comparison to the world: 91

$2.817 billion (31 December 2010)
$2.804 billion (31 December 2009)
[see also: Market value of publicly traded shares country ranks ]

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

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

Industrial production growth rate:
8.8% (2011 est.)
country comparison to the world: 20
[see also: Industrial production growth rate country ranks ]

Current account balance:
-$1.048 billion (2012 est.)
country comparison to the world: 113

$215 million (2011 est.)
[see also: Current account balance country ranks ]

Exports:
$8.346 billion (2012 est.)
country comparison to the world: 99

$8.672 billion (2011 est.)
[see also: Exports country ranks ]

Exports - commodities:
copper/cobalt 64%, cobalt, electricity; tobacco, flowers, cotton

Exports - partners:
China 34.8%, Switzerland 18.2%, South Africa 7.8%, Democratic Republic of the Congo 5.4%, South Korea 4.4% (2011)

Imports:
$7.279 billion (2012 est.)
country comparison to the world: 110

$6.454 billion (2011 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 20.6%, China 10%, Kuwait 5.9% (2011)

Reserves of foreign exchange and gold:
$2.616 billion (31 December 2012 est.)
country comparison to the world: 115

$2.324 billion (31 December 2011 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$5.445 billion (31 December 2012 est.)
country comparison to the world: 112

$4.619 billion (31 December 2011 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 -

5,100 (2012 est.)
4,860.7 (2011 est.)
4,797.1 (2010 est.)
5,046.1 (2009)
3,512.9 (2008)

Fiscal year:
calendar year


NOTE: The information regarding Zambia on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Zambia Economy 2013 information contained here. All suggestions for corrections of any errors about Zambia Economy 2013 should be addressed to the CIA.


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