Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Zambia’s economic outlook, debt to GDP ratio, international trade performance and population trends.
Basic Information
Government Type: Presidential republic
Capital City: Lusaka
GDP & Economic Information
Macroeconomy & Sovereign Data
Central Bank | Bank of Zambia |
---|---|
Currency |
Zambian kwacha (ZMK) |
International Reserves |
USD 1.6 billion (2018) International Monetary Fund (IMF) |
Gross Domestic Product – GDP |
USD 25.2 billion (2018, estimate) |
GDP (Purchasing Power Parity) |
Intl$ 72.9 billion (2018, estimate) |
GDP Data
Real GDP growth |
2014: 4.7% 2015: 2.9% 2016: 3.8% 2017: 3.4% (Estimate) 2018: 3.5% (Estimate) |
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GDP per capita – current prices | USD 1,416.7 (2018, estimate) |
GDP per capita – PPP | Intl$ 4,103.5 (2018, estimate) |
GDP (PPP) – share of world total |
0.05% (2019, estimate) |
GDP – composition by sector |
agriculture: 2.6% industry: 36.3% services: 54.1% (2019 estimate) |
Gross domestic expenditure on R&D; (% of GDP) | N/A |
Inflation |
2015: 10.1% 2016: 17.9% 2017: 6.6% 2018: 7% (Estimate) 2019: 10% (Estimate) |
Zambia
Inflation & Debt
Inflation |
2015: 10.1% 2016: 17.9% 2017: 6.6% 2018: 7% (Estimate) 2019: 10% (Estimate) |
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Government Bond Ratings |
Standard & Poor’s: CCC+ Moody’s: Caa2 Standard & Poor’s / Moody’s (Updated January 2017) |
Unemployment rate |
2015: N/A 2016: N/A 2017: N/A 2018: N/A (Estimate) 2019: N/A (Estimate) |
Household saving rates | N/A |
Public debt (General government gross debt as a % of GDP) |
2015: 62.3% 2016: 60.7% 2017: 61.9% 2018: 78.1% (Estimate) 2019: 91.6% (Estimate) |
Public deficit (General government net lending/borrowing as a % of GDP) |
2015: -9.5% 2016: -6.1% 2017: -7.7% 2018: -8.3% (Estimate) 2019: -4.8% (Estimate) |
Market value of publicly traded shares | N/A |
Largest Companies | N/A |
Import/Export
Exports as percent of GDP (Exports of goods and services) |
5.9% (2017) |
---|---|
Shares in world total merchandising export |
0.004% (2018) |
Shares in world total commercial services export |
0.008% (2018) |
Total exports |
USD 1.6 billion (2018 estimate) |
Export commodities |
Opium, fruits and nuts, handwoven carpets, wool, cotton, hides and pelts, precious and semi-precious gems, and medical herbs |
Total imports |
USD 8.3 billion (2018 estimate) |
Import commodities |
Machinery and other capital goods, food, textiles, petroleum products |
Exports – major partners |
India 56.5%, Pakistan 29.6% (2017) |
Imports – major partners |
China 21%, Iran 20.5%, Pakistan 11.8%, Kazakhstan 11%, Uzbekistan 6.8%, Malaysia 5.3%(2017) |
Competitiveness & Trade
Current account balance |
USD -0.7 billion (2018 estimate) |
---|---|
Current account balance by percentage of GDP |
-2.6% (2018 estimate) |
FDI inflows |
2016: USD 663 million 2017: USD 1,108 million 2018: USD 569 million |
FDI Outflows |
2016: USD 177 million 2017: USD -77 million 2018: USD 32 million |
Value of cross-border M&A, by country of purchaser |
N/A United Nations Conference on Trade and Development (UNCTAD) – World Investment Report |
Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 85 out of 190 countries (2019) Subcategories: Starting a business: 117 out of 190 countries Dealing with Construction Permits: 67 out of 190 countries Getting Electricity: 129 out of 190 countries Registering Property: 149 out of 190 countries Getting Credit: 4 out of 190 countries Protecting Minority Investors: 72 out of 190 countries Paying Taxes: 17 out of 190 countries Trading across Borders: 155 out of 190 countries Enforcing Contracts: 130 out of 190 countries Resolving Insolvency: 79 out of 190 countries |
Global competitiveness ranking |
120 out of 141 countries (2019) |
Index of Economic Freedom |
Ranking: 138 / Score: 53.6 (Mostly unfree) (2016) (100=totally free 0=totally repressed) |
Population & Geographic Data
Time Zone |
UTC+2 |
---|---|
Total Area |
752,618 sq km |
Total Population |
1990: 8.01 million 2000: 10.59 million 2010: 13.9 million 2015: 16.2 million 2020: 18.88 million (Estimate) |
Urban population as % of total population |
1960: 18.1% 1980: 39.8% 2000: 34.8% 2018: 43.5% |
Population median age |
16.8 years (2018 estimate) |
Population growth rate |
2.91% (2018 estimate) |
Life expectancy |
53 years (2018 estimate) |
% of population living on less than $3.10 a day |
74.3% (2015) |
Inequality of wealth distribution (Gini index) |
57.1 (2015) (0=perfect equality, 100=absolute inequality) |
Freedom House rating |
Partly Free Political Rights: 5 Civil Liberties: 5 (2019) (1 represents the most free, 7 the least free rating) |
Total telephone subscribers as % of population |
Fixed 0.6% Mobile 89.2% (2015) (fixed-telephone subscribers and mobile-cellular subscribers) |
Internet users as % of total population |
14.3% (2018) |
Language & Religon
Languages |
Bemba 33.4%, Nyanja 14.7%, Tonga 11.4%, Lozi 5.5%, Chewa 4.5%, Nsenga 2.9%, Tumbuka 2.5%, Lunda (North Western) 1.9%, Kaonde 1.8%, Lala 1.8%, Lamba 1.8%, English (official) 1.7%, Luvale 1.5%, Mambwe 1.3%, Namwanga 1.2%, Lenje 1.1%, Bisa 1%, other 9.7% |
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Literacy |
Total population: 63.4% Male: 70.9% Female: 56% (2015 est.) (age 15 and over can read and write English) |
Religions |
Protestant 75.3%, Roman Catholic 20.2%, other 2.7% (includes Muslim Buddhist, Hindu, and Baha’i), none 1.8% (2010 est.) |
World Rankings
Population | 18.88 M |
---|---|
Mercer Cost of living index |
Lusaka: 200th (2016) |
C02 Emissions per capita |
0.29 (2014) |
Global Finance Rankings & Awards: Albania
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000