Economy - overview:
Zambia had one of the world’s fastest growing economies for the ten years up to 2014, with real GDP growth averaging roughly 6.7% per annum, though growth slowed during the period 2015 to 2017, 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. Zambia has raised $7 billion from international investors by issuing separate sovereign bonds in 2012, 2014, and 2015, significantly increasing the country’s public debt burden to 56% of GDP; the government plan refinanced $2.8 billion worth of Eurobonds in 2017 to cut debt servicing costs.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 more than 20% in 2016. Zambia’s currency, the kwacha, also depreciated sharply against the dollar through 2016, leading the central bank to restrict lending. Rampant spending in recent years has increased the fiscal deficit to over 8% in 2017 and may encourage the government to seek external financing from the IMF to fund the shortfall.

GDP (purchasing power parity):
$68.9 billion (2017 est.) $66.27 billion (2016 est.) $64.08 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 102

GDP (official exchange rate):
$25.58 billion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4% (2017 est.) 3.4% (2016 est.) 2.9% (2015 est.)
country comparison to the world: 69
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$4,000 (2017 est.) $4,000 (2016 est.) $4,000 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 179

Gross national saving:
38.3% of GDP (2017 est.) 37.3% of GDP (2016 est.) 38.9% of GDP (2015 est.)
country comparison to the world: 10
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 53.8%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 21.2%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 27.8%
[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: 45.3%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -49.2% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 5.4%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 35.6%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 59% (2017 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:
5.1% (2017 est.)
country comparison to the world: 43
[see also: Industrial production growth rate country ranks ]

Labor force:
6.898 million (2017 est.)
country comparison to the world: 69
[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: 172
[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)

Distribution of family income - Gini index:
57.5 (2013) 50.8 (2004)
country comparison to the world: 8
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $4.895 billion
[see also: Budget - revenues country ranks ]
expenditures: $7.05 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
19.1% of GDP (2017 est.)
country comparison to the world: 161
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-8.4% of GDP (2017 est.)
country comparison to the world: 201
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
62.8% of GDP (2017 est.) 58.6% of GDP (2016 est.)
country comparison to the world: 67
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
6.8% (2017 est.) 17.9% (2016 est.)
country comparison to the world: 191
[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: 28
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
15.5% (31 December 2017 est.) 15.5% (31 December 2016 est.)
country comparison to the world: 40
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.816 billion (31 December 2017 est.) $1.582 billion (31 December 2016 est.)
country comparison to the world: 138
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$4.904 billion (31 December 2017 est.) $4.145 billion (31 December 2016 est.)
country comparison to the world: 129
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$5.207 billion (31 December 2017 est.) $4.167 billion (31 December 2016 est.)
country comparison to the world: 128
[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: 95
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$918 million (2017 est.) -$934 million (2016 est.)
country comparison to the world: 130
[see also: Current account balance country ranks ]

Exports:
$8.106 billion (2017 est.) $6.514 billion (2016 est.)
country comparison to the world: 97
[see also: Exports country ranks ]

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

Exports - partners:
Switzerland 39.4%, China 18%, Democratic Republic of the Congo 6.7%, South Africa 6.4%, UAE 6%, Singapore 5.6% (2016)

Imports:
$7.336 billion (2017 est.) $6.539 billion (2016 est.)
country comparison to the world: 109
[see also: Imports country ranks ]

Imports - commodities:
machinery, transportation equipment, petroleum products, electricity, fertilizer, foodstuffs, clothing

Imports - partners:
South Africa 31.2%, Democratic Republic of the Congo 12.3%, Kuwait 8.1%, China 7.6%, Mauritius 4.4%, UAE 4.2%, India 4% (2016)

Reserves of foreign exchange and gold:
$2.426 billion (31 December 2017 est.) $2.353 billion (31 December 2016 est.)
country comparison to the world: 112
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$10.79 billion (31 December 2017 est.) $9.562 billion (31 December 2016 est.)
country comparison to the world: 111
[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 - 9.2 (2017 est.) 10.3 (2016 est.) 10.3 (2015 est.) 8.6 (2014 est.) 6.2 (2013 est.)