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Zambia Economy 2017
http://www.theodora.com/wfbcurrent/zambia/zambia_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Zambia Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Zambia has had one of the world’s fastest growing economies for the past ten years, with real GDP growth averaging roughly 6.7% per annum, though growth slowed in 2015 to just over 3%, 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.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, and by market-distorting agricultural and energy policies. Economic policy inconsistency and poor budget execution in recent years has hindered the economy and contributed to weakness in the kwacha, which was Africa’s worst performing currency during 2015. Zambia has raised $7 billion from international investors by issuing separate sovereign bonds in September 2012, April 2014, and July 2015, significantly increasing the country’s public debt as a share of GDP.Poor management of water resources has also contributed to a power generation shortage, which has hampered industrial productivity and contributed to an increase in year-on-year inflation to 23% by March 2016. Zambia’s currency, the kwacha, also depreciated sharply against the dollar through 2015, before the central bank restricted lending.

GDP (purchasing power parity):
$65.17 billion (2016 est.) $63.27 billion (2015 est.) $61.43 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 102
[see also: GDP country ranks ]

GDP (official exchange rate):
$20.57 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3% (2016 est.) 3% (2015 est.) 5% (2014 est.)
country comparison to the world: 97
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$3,900 (2016 est.) $3,900 (2015 est.) $3,900 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 178
[see also: GDP - per capita country ranks ]

Gross national saving:
27% of GDP (2016 est.) 31.9% of GDP (2015 est.) 37.1% of GDP (2014 est.)
country comparison to the world: 39
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 53%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 21.7%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 26%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 1.2%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 43.8%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -45.7% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 9.2%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 29.2%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 61.7% (2016 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:
0.2% (2016 est.)
country comparison to the world: 171
[see also: Industrial production growth rate country ranks ]

Labor force:
7.116 million (2016 est.)
country comparison to the world: 65
[see also: Labor force country ranks ]

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

Unemployment rate:
15% (2008 est.) 50% (2000 est.)
country comparison to the world: 153
[see also: Unemployment rate country ranks ]

Population below poverty line:
60.5% (2010 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: 9
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $3.418 billion
[see also: Budget revenues country ranks ]
expenditures: $5.079 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
16.6% of GDP (2016 est.)
country comparison to the world: 176
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-8.1% of GDP (2016 est.)
country comparison to the world: 193
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
57.2% of GDP (2016 est.) 58.6% of GDP (2015 est.)
country comparison to the world: 71
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
20.7% (2016 est.) 10.1% (2015 est.)
country comparison to the world: 219
[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: 30
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
15.7% (31 December 2016 est.) 13.25% (31 December 2015 est.)
country comparison to the world: 32
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.328 billion (31 December 2016 est.) $1.288 billion (31 December 2015 est.)
country comparison to the world: 142
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$5.682 billion (31 December 2014 est.) $5.437 billion (31 December 2013 est.)
country comparison to the world: 126
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$3.672 billion (31 December 2016 est.) $3.682 billion (31 December 2015 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: 94
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$932 million (2016 est.) -$768 million (2015 est.)
country comparison to the world: 123
[see also: Current account balance country ranks ]

Exports:
$6.609 billion (2016 est.) $6.998 billion (2015 est.)
country comparison to the world: 100
[see also: Exports country ranks ]

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

Exports - partners:
China 25.5%, Democratic Republic of the Congo 13%, South Africa 6.4%, South Korea 4.9%, India 4.3% (2015)

Imports:
$6.752 billion (2016 est.) $7.711 billion (2015 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 34.5%, Democratic Republic of the Congo 18.2%, Kenya 9.7%, China 7.3%, India 4.4% (2015)

Reserves of foreign exchange and gold:
$2.046 billion (31 December 2016 est.) $2.968 billion (31 December 2015 est.)
country comparison to the world: 114
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$9.27 billion (31 December 2016 est.) $8.88 billion (31 December 2015 est.)
country comparison to the world: 112
[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 - 10.8 (2016 est.) 8.6 (2015 est.) 8.6 (2014 est.) 6.2 (2013 est.) 5.1 (2012 est.)


NOTE: The information regarding Zambia on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Zambia Economy 2017 information contained here. All suggestions for corrections of any errors about Zambia Economy 2017 should be addressed to the CIA.




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