Zambian Growth Story

FRONTIER MARKETS REPORT
​Zambia’s strong and stable economic expansion is enticing firms looking to build their African presence. Among frontier markets in sub-Saharan Africa, the country stands out for its stable economy and its long record of strong growth. These factors have helped attract investors to this copper-rich, landlocked nation of 14 million people..

 
 
Source
Central bank

Bank of Zambia

International Reserves

USD 3 billion (2015)

International Monetary Fund (IMF), data retrieved January 2017

Gross Domestic Product - GDP

USD 20.9 billion (2017, estimate)

GDP (Purchasing Power Parity)

Intl$ 69.2 billion (2017, estimate)

Real GDP growth
 2006 2007 2008 2009 2010 2011 2012 2013
 7.9% 8.4% 7.8% 9.2% 10.3% 5.6% 7.6% 5.1%
 2014 2015* 2016* 2017*        
 5% 2.3% 3% 4%        

*Estimate

GDP per capita - current prices

USD 1,213.4 (2017, estimate)

GDP per capita - PPP

Intl$ 4,014.7 (2017, estimate)

GDP (PPP) - share of world total
1980 1990 2000 2010 2017*
0.07% 0.06% 0.04% 0.05% 0.06%

*Estimate

 
 
Source
GDP - composition by sector
  • agriculture: 9.2% 
  • industry: 29.2% 
  • services: 61.7%

(2016 estimate)

Gross domestic expenditure on R&D; (% of GDP)

N/A

Inflation
2013 2014 2015 2016* 2017*
7.0% 7.8% 10.1% 19.1% 9.1%

*Estimate

Unemployment rate
2013 2014 2015 2016 2017
N/A N/A N/A N/A N/A

*Estimate 

Household saving rates

N/A

 

Public debt (General government gross debt as a % of GDP)
2013 2014 2015 2016* 2017*
25.9% 33.6% 56.3% 56.1% 58.8%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2013 2014 2015 2016* 2017*
-6.2% -5.9% -9.1% -8.9% -8.2%

*Estimate   

Government bond ratings

Standard & Poor's: B

Moody's: B3

Standard & Poor's / Moody's (Updated January 2017)

Market value of publicly traded shares
2013 2014 2015
N/A N/A N/A

*Estimate   

Largest companies in Zambia

N/A

 
 
Source
Current account balance

USD -0.5 billion (2017 estimate)

Current account balance by percentage of GDP

-2.2% (2017 estimate)

Exports as percent of GDP(Exports of goods and services)

37.1% (2015)

Shares in world total merchandising export

0.04% (2015)

Shares in world total commercial services export

0.02% (2014)

Total exports

USD 6.6 billion (2016 estimate)

Export commodities

Copper/cobalt, cobalt, electricity; tobacco, flowers, cotton

Total imports

USD 6.8 billion (2016 estimate)

 
 
Source
Import commodities

Machinery, transportation equipment, petroleum products, electricity, fertilizer, foodstuffs, clothing

Exports - major partners

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

Imports - major partners

South Africa 34.5%, Democratic Republic of the Congo 18.2%, Kenya 9.7%, China 7.3%, India 4.4% (2015)

FDI inflows
2013 2014 2015
USD 1,810 million USD 3,195 million USD 1,653 million
FDI outflows
2013 2014 2015
USD 66 million USD -212 million USD -283 million
Value of cross-border M&A; by country of purchaser
2012 2013 2014 2015
N/A N/A N/A N/A
Cross-border M&A; deals worth over $3 billion completed in 2014 (Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A; click here )

Cross-border M&A; deals worth over $3 billion completed in 2015 (Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A; click here )

Best countries for doing business World Bank/IFC Doing Business Project

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: 98 out of 190 countries (2017)

Subcategories:

Starting a business: 105 out of 190 countries

Enforcing Contracts: 135 out of 190 countries

Registering Property: 145 out of 190 countries

Getting Credit: 20 out of 190 countries

Protecting Minority Investors: 87 out of 190 countries

Trading Across Borders: 161 out of 190 countries

Paying Taxes: 58 out of 190 countries

Dealing with Construction Permits: 78 out of 190 countries

Getting Electricity: 153 out of 190 countries

Resolving Insolvency: 83 out of 190 countries

Global competitiveness ranking(ranking by country on a basis of 144, the first is the best)

118 out of 138 countries

(2016-2017)

Index of Economic FreedomWSJ and Heritage Foundation

Ranking: 106 / Score: 58.79 (Mostly unfree) (2016)

(100=totally free 0=totally repressed)

 
 
Source
Time zone

UTC+2

Total area

752,618 sq km

Capital

Lusaka

Currency

Zambian kwacha (ZMK)

Government type

republic

Languages

Bembe 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 9.2%, unspecified 0.4% (2010 est.)

Religions

Protestant 75.3%, Roman Catholic 20.2%, other 2.7% (includes Muslim Buddhist, Hindu, and Baha'i), none 1.8% (2010 est.)

Total population
1990 2000 2010 2014* 2019**
7.634 million 10.101 million 13.217 million 15.021 million 17.673 million

*Estimate    **Forecast

 
 
Source
Urban population as % of total population
1960 1980 2000 2013
18.1% 40% 35% 40%
Population median age

16.7 years (2014 est.)

Population growth rate

2.88% (2014 est.)

Life expectancy

51.83 years  (2014 est.)

Adult literacy

61.4% (2007 estimate)

% of population living on less than $2 a day

86.6% (2010)

Inequality of wealth distribution (Gini index)

57.5 (2010)
(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights: 3
Civil Liberties: 4 (2014)

(1 represents the most free, 7 the least free)

Source
Total telephone subscribers as % of population

Fixed  0.8%   Mobile  71.5% (2013)
(fixed-telephone subscribers and mobile-cellular subscribers)

Internet users as % of total population

15.40% (2013)

Cost of living - Mercer index(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Lusaka 174th (2014)

CO2 emissions(Metric tons of CO2 per capita)

0.2 (2010)

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