| Economy | Zambia |
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Economy - overview:
|
Zambia's economy has experienced strong growth in recent years, with real GDP growth in 2005-11 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 USD 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. 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):
|
$21.93 billion (2011 est.)
$20.5 billion (2010 est.)
$19.07 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
|
$1,600 (2011 est.)
$1,500 (2010 est.)
$1,500 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
|
$18.4 billion (2011 est.) |
GDP - real growth rate:
|
6.7% (2011 est.)
7.6% (2010 est.)
6.4% (2009 est.) |
GDP - composition by sector:
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agriculture: 21.5%
industry: 35.2%
services: 43.4% (2011 est.) |
Investment (gross fixed):
|
21.9% of GDP (2011 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)
52.6 (1998) |
Inflation rate (consumer prices):
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8.4% (2011 est.)
8.5% (2010 est.) |
Central bank discount rate:
|
8.39% (31 December 2009)
14.49% (31 December 2008) |
Commercial bank prime lending rate:
|
19% (31 December 2011 est.)
20.92% (31 December 2010 est.) |
Stock of money:
|
$1.034 billion (31 December 2008)
$995.8 million (31 December 2007) |
Stock of money - per capita:
|
75 USD per capita |
Stock of quasi money:
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$1.618 billion (31 December 2008)
$1.709 billion (31 December 2007) |
Stock of quasi money - per capita:
|
117 USD per capita |
Stock of domestic credit:
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$3.691 billion (31 December 2011 est.)
$3.061 billion (31 December 2010 est.) |
Stock of domestic credit - per capita:
|
266 USD per capita |
Stock of narrow money:
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$1.57 billion (31 December 2011 est.)
$1.455 billion (31 December 2010 est.) |
Stock of broad money:
|
$4.188 billion (31 December 2011 est.)
$3.77 billion (31 December 2010 est.) |
Labor force:
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5.57 million (2011 est.) |
Labor force participation rate:
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40.13 % of population |
Labor force - by occupation:
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agriculture: 85%
industry: 6%
services: 9% (2004) |
Unemployment rate:
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14% (2006 est.)
50% (2000 est.) |
Unemployment, youth ages 15-24:
|
void |
Budget:
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revenues: $3.613 billion
expenditures: $4.382 billion (2011 est.) |
Budget revenues per capita:
|
261 USD per capita |
Taxes and other revenues:
|
19.6% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
|
-4.2% of GDP (2011 est.) |
Public debt:
|
27.3% of GDP (2011 est.)
26.7% of GDP (2010 est.) |
Industries:
|
copper mining and processing, construction, foodstuffs, beverages, chemicals, textiles, fertilizer, horticulture |
Industrial production growth rate:
|
9.1% (2011 est.) |
Electricity - production:
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9.597 billion kWh (2008 est.) |
Electricity - production per capita:
|
692 kWh per capita |
Electricity - consumption:
|
7.614 billion kWh (2008 est.) |
Electricity - consumption - per capita:
|
549 kWh per capita |
Electricity - exports:
|
96 million kWh (2008) |
Electricity - imports:
|
279 million kWh (2008 est.) |
Oil - production:
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190.3 bbl/day (2010 est.) |
Oil - production per capita:
|
14 bbl/day per capita |
Oil - consumption:
|
16,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
|
0.42 bbl/year per capita |
Oil - exports:
|
360 bbl/day (2009 est.) |
Oil - imports:
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17,570 bbl/day (2009 est.) |
Oil - proved reserves:
|
0 bbl (1 January 2011 est.) |
Natural gas - production:
|
0 cu m (2009 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2009 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2009 est.) |
Natural gas - imports:
|
0 cu m (2009 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2011 est.) |
Agriculture - products:
|
corn, sorghum, rice, peanuts, sunflower seed, vegetables, flowers, tobacco, cotton, sugarcane, cassava (tapioca), coffee; cattle, goats, pigs, poultry, milk, eggs, hides |
Current account balance:
|
-$42.7 million (2011 est.)
$534.7 million (2010 est.) |
Current account balance - per capita:
|
-3 USD per capita |
Exports:
|
$9.008 billion (2011 est.)
$7.251 billion (2010 est.) |
Exports per capita:
|
649 USD per capita |
Exports - commodities:
|
copper/cobalt 64%, cobalt, electricity; tobacco, flowers, cotton |
Exports - partners:
|
Switzerland 51.3%, China 20.3%, South Africa 9.2%, Democratic Republic of the Congo 4.6% (2010) |
Imports:
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$6.453 billion (2011 est.)
$4.71 billion (2010 est.) |
Imports per capita:
|
465 USD per capita |
Imports - commodities:
|
machinery, transportation equipment, petroleum products, electricity, fertilizer, foodstuffs, clothing |
Imports - partners:
|
South Africa 35%, Democratic Republic of the Congo 23.5%, Kuwait 8.9%, China 5.6% (2010) |
Reserves of foreign exchange and gold:
|
$2.953 billion (31 December 2011 est.)
$2.094 billion (31 December 2010 est.) |
Reserves of foreign exchange and gold - per capita:
|
213 USD per capita |
Debt - external:
|
$4.137 billion (31 December 2011 est.)
$3.461 billion (31 December 2010 est.) |
Debt - external - per capita:
|
299 USD per capita |
Stock of direct foreign investment - at home:
|
$NA |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
$NA |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
$2.817 billion (31 December 2010)
$2.346 billion (31 December 2007)
$1.186 billion (31 December 2006) |
Market value of publicly traded shares - per capita:
|
203 USD per capita |
Currency (code):
|
Zambian kwacha (ZMK) |
Exchange rates:
|
Zambian kwacha (ZMK) per US dollar -
4,869.9 (2011 est.)
4,797.1 (2010 est.)
5,046.1 (2009)
3,512.9 (2008)
3,990.2 (2007) |
Fiscal year:
|
calendar year |
|
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