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Zambia Economy 2014
http://www.theodora.com/wfbcurrent/zambia/zambia_economy.html
SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on January 28, 2014

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 rate.

GDP (purchasing power parity):
$23.69 billion (2012 est.)
country comparison to the world: 125

$22.09 billion (2011 est.)
$20.68 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$20.31 billion (2012 est.)

GDP - real growth rate:
7.2% (2012 est.)
country comparison to the world: 28

6.8% (2011 est.)
7.6% (2010 est.)

GDP - per capita (PPP):
$1,700 (2012 est.)
country comparison to the world: 198

$1,600 (2011 est.)
$1,600 (2010 est.)
note: data are in 2012 US dollars

Gross national saving:
19.4% of GDP (2012 est.)
country comparison to the world: 78

23.7% of GDP (2011 est.)
26.9% of GDP (2010 est.)

GDP - composition, by end use:
household consumption: 58.8%
government consumption: 26.7%
investment in fixed capital: 19.2%
investment in inventories: 1.1%
exports of goods and services: 36%
imports of goods and services: -41.8%

(2012 est.)
[see also: country ranks ]

GDP - composition, by sector of origin:
agriculture: 20.5%
industry: 33.3%
services: 46.3% (2012 est.)

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:
5.7% (2012 est.)
country comparison to the world: 46

Labor force:
6.098 million (2012 est.)
country comparison to the world: 66

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

Unemployment rate:
14% (2006 est.)
country comparison to the world: 140

50% (2000 est.)

Population below poverty line:
64% (2006)

Household income or consumption by percentage share:
lowest 10%: 1.2%
highest 10%: 38.8% (2004)

Distribution of family income - Gini index:
50.8 (2004)
country comparison to the world: 19

52.6 (1998)

Budget:
revenues: $4.255 billion
expenditures: $5.253 billion (2012 est.)

Taxes and other revenues:
20.9% of GDP (2012 est.)
country comparison to the world: 160

Budget surplus (+) or deficit (-):
-4.9% of GDP (2012 est.)
country comparison to the world: 163

Public debt:
29.5% of GDP (2012 est.)
country comparison to the world: 118

29.6% of GDP (2011 est.)

Fiscal year:
calendar year

Inflation rate (consumer prices):
6.6% (2012 est.)
country comparison to the world: 173

8.7% (2011 est.)

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

14.49% (31 December 2008)

Commercial bank prime lending rate:
12.15% (31 December 2012 est.)
country comparison to the world: 20

18.84% (31 December 2011 est.)

Stock of narrow money:
$2.185 billion (31 December 2012 est.)
country comparison to the world: 123

$1.63 billion (31 December 2011 est.)

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

$4.075 billion (31 December 2011 est.)

Stock of domestic credit:
$3.833 billion (31 December 2012 est.)
country comparison to the world: 121

$3.291 billion (31 December 2011 est.)

Market value of publicly traded shares:
$4.009 billion (31 December 2011)
country comparison to the world: 92

$2.817 billion (31 December 2010)
$2.804 billion (31 December 2009)

Current account balance:
$-189.9 million (2012 est.)
country comparison to the world: 80

$553.9 million (2011 est.)

Exports:
$9.414 billion (2012 est.)
country comparison to the world: 97

$8.66 billion (2011 est.)

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:
$7.961 billion (2012 est.)
country comparison to the world: 110

$6.454 billion (2011 est.)

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:
$3.042 billion (31 December 2012 est.)
country comparison to the world: 109

$2.324 billion (31 December 2011 est.)

Debt - external:
$5.618 billion (31 December 2012 est.)
country comparison to the world: 117

$4.36 billion (31 December 2011 est.)

Stock of direct foreign investment - at home:
$NA

Stock of direct foreign investment - abroad:
$NA

Exchange rates:
Zambian kwacha (ZMK) per US dollar -

5.1 (2012 est.)
4.9 (2011 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 2014 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Zambia Economy 2014 information contained here. All suggestions for corrections of any errors about Zambia Economy 2014 should be addressed to the CIA.



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