Countries
Zambia
Key Economic Indicators
$89.84 billion
$4,215
3.82%
14.99%
5.92%
$26.326 billion (2024 est.)
71 % of GDP
$-487,394,443
Economic Overview
<p>lower-middle-income sub-Saharan economy; regional hydroelectricity producer; trade ties and infrastructure investments from China; IMF assistance to restructure debt burden; one of youngest and fastest-growing labor forces; systemic corruption; extreme rural poverty</p>
All Economic Data
Agricultural products
sugarcane, cassava, maize, soybeans, milk, vegetables, wheat, groundnuts, sweet potatoes, beef (2023)
note:
<b>note:</b> top ten agricultural products based on tonnage
Budget
Expenditures:
$6.19 billion (2021 est.)
Note:
<b>note:</b> central government revenues and expenses (excluding grants/extrabudgetary units/social security funds) converted to US dollars at average official exchange rate for year indicated
Revenues:
$5.388 billion (2021 est.)
Currency
code:
ZMW
name:
Zambian kwacha (ZMW) [ZK]
Current account balance
$-487,394,443
Current account balance 2021:
$2.63 billion (2021 est.)
Current account balance 2022:
$1.093 billion (2022 est.)
Current account balance 2023:
-$582.715 million (2023 est.)
Note:
<b>note:</b> balance of payments - net trade and primary/secondary income in current dollars
Debt - external
$28.12 billion
Debt - external 2023:
$16.597 billion (2023 est.)
Note:
<strong>note:</strong> present value of external debt in current US dollars
Exchange rates
Currency:
Zambian kwacha (ZMK) per US dollar -
Exchange rates 2020:
18.344 (2020 est.)
Exchange rates 2021:
20.018 (2021 est.)
Exchange rates 2022:
16.938 (2022 est.)
Exchange rates 2023:
20.212 (2023 est.)
Exchange rates 2024:
26.166 (2024 est.)
Exports
$8.85 billion
Exports 2021:
$11.728 billion (2021 est.)
Exports 2022:
$12.444 billion (2022 est.)
Exports 2023:
$11.454 billion (2023 est.)
Note:
<b>note:</b> balance of payments - exports of goods and services in current dollars
Exports - commodities
raw copper, refined copper, gold, precious stones, electricity (2023)
note:
<b>note:</b> top five export commodities based on value in dollars
Exports - partners
Switzerland 27%, China 15%, India 13%, UAE 12%, DRC 10% (2023)
note:
<strong>note:</strong> top five export partners based on percentage share of exports
Foreign direct investment
net inflows:
$2.36 billion
GDP - composition, by end use
Exports of goods and services:
40.8% (2023 est.)
Government consumption:
13.3% (2023 est.)
Household consumption:
47.1% (2023 est.)
Imports of goods and services:
-37.4% (2023 est.)
Investment in fixed capital:
26.4% (2023 est.)
Investment in inventories:
5% (2023 est.)
Note:
<b>note:</b> figures may not total 100% due to rounding or gaps in data collection
GDP - composition, by sector of origin
Agriculture:
1.8% (2024 est.)
Industry:
37.5% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Services:
55.1% (2024 est.)
GDP (official exchange rate)
$26.326 billion (2024 est.)
note:
<b>note:</b> data in current dollars at official exchange rate
GDP per capita (nominal)
$1,187
Gini Index coefficient - distribution of family income
57.1 (2015)
Gini Index coefficient - distribution of family income 2022:
51.5 (2022 est.)
Note:
<b>note:</b> index (0-100) of income distribution; higher values represent greater inequality
GNI (gross national income)
$23.13 billion
GNI per capita
$1,220
Gross domestic investment
24 % of GDP
Household income or consumption by percentage share
Highest 10%:
39.1% (2022 est.)
Lowest 10%:
1.5% (2022 est.)
Note:
<b>note:</b> % share of income accruing to lowest and highest 10% of population
Imports
$6.97 billion
Imports 2021:
$7.691 billion (2021 est.)
Imports 2022:
$10.022 billion (2022 est.)
Imports 2023:
$10.854 billion (2023 est.)
Note:
<b>note:</b> balance of payments - imports of goods and services in current dollars
Imports - commodities
refined petroleum, fertilizers, trucks, sulphur, tractors (2023)
note:
<b>note:</b> top five import commodities based on value in dollars
Imports - partners
South Africa 25%, China 15%, UAE 10%, India 5%, Japan 5% (2023)
note:
<strong>note:</strong> top five import partners based on percentage share of imports
Industrial production growth rate
3.5% (2024 est.)
note:
<b>note:</b> annual % change in industrial value added based on constant local currency
Industries
copper mining and processing, emerald mining, construction, foodstuffs, beverages, chemicals, textiles, fertilizer, horticulture
Inflation rate (consumer prices)
14.99%
Inflation rate (consumer prices) 2022:
11% (2022 est.)
Inflation rate (consumer prices) 2023:
10.9% (2023 est.)
Inflation rate (consumer prices) 2024:
15% (2024 est.)
Note:
<b>note:</b> annual % change based on consumer prices
Labor force
7.407 million (2024 est.)
note:
<b>note:</b> number of people ages 15 or older who are employed or seeking work
total:
8.01 million persons
Labor force - by occupation
agriculture:
54.53%
industry:
10.28%
services:
35.19%
Population below poverty line
60% (2022 est.)
note:
<b>note:</b> % of population with income below national poverty line
Public debt
71 % of GDP
Note:
<b>note:</b> central government debt as a % of GDP
Public debt 2021:
71.4% of GDP (2021 est.)
Real GDP (purchasing power parity)
$89.84 billion
Note:
<b>note:</b> data in 2021 dollars
Real GDP (purchasing power parity) 2022:
$72.251 billion (2022 est.)
Real GDP (purchasing power parity) 2023:
$76.129 billion (2023 est.)
Real GDP (purchasing power parity) 2024:
$79.207 billion (2024 est.)
Real GDP growth rate
3.82%
Note:
<b>note:</b> annual GDP % growth based on constant local currency
Real GDP growth rate 2022:
5.2% (2022 est.)
Real GDP growth rate 2023:
5.4% (2023 est.)
Real GDP growth rate 2024:
4% (2024 est.)
Real GDP per capita
$4,215
Note:
<b>note:</b> data in 2021 dollars
Real GDP per capita 2022:
$3,600 (2022 est.)
Real GDP per capita 2023:
$3,700 (2023 est.)
Real GDP per capita 2024:
$3,700 (2024 est.)
Remittances
$334.31 million
Note:
<b>note:</b> personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2021:
1.1% of GDP (2021 est.)
Remittances 2022:
0.8% of GDP (2022 est.)
Remittances 2023:
0.9% of GDP (2023 est.)
Reserves of foreign exchange and gold
$3.17 billion
Note:
<b>note:</b> holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2021:
$2.754 billion (2021 est.)
Reserves of foreign exchange and gold 2022:
$2.968 billion (2022 est.)
Reserves of foreign exchange and gold 2023:
$3.173 billion (2023 est.)
Revenue (excl grants)
22 % of GDP
Tax revenue
17 % of GDP
Taxes and other revenues
16.8% (of GDP) (2021 est.)
note:
<b>note:</b> central government tax revenue as a % of GDP
Unemployment rate
5.92%
Note:
<b>note:</b> % of labor force seeking employment
Unemployment rate 2022:
6% (2022 est.)
Unemployment rate 2023:
6% (2023 est.)
Unemployment rate 2024:
6% (2024 est.)
Youth unemployment rate (ages 15-24)
Female:
9.6% (2024 est.)
Male:
10.1% (2024 est.)
Note:
<b>note:</b> % of labor force ages 15-24 seeking employment
Total:
9.9% (2024 est.)
World Bank Indicators
Currency
South African rand (ZAR) R (2025)
Gini Index
63.00 (2014)
Languages
Afrikaans, English, Southern Ndebele, Northern Sotho, Southern Sotho, Swazi, Tswana, Tsonga, Venda, Xhosa, Zulu (2025)
Economic Rankings
Gini Index
#4
Inflation Rate
#41
External Debt
#42
GDP Growth Rate
#81
Unemployment Rate
#82
GDP (PPP)
#104
Exports
#109
GDP (Nominal)
#113
Reserves
#116
Imports
#120
GDP per Capita
#163
Quick Facts
Industries
copper mining and processing, emerald mining, construction, foodstuffs, beverages, chemicals, textiles, fertilizer, horticulture
Agricultural products
sugarcane, cassava, maize, soybeans, milk, vegetables, wheat, groundnuts, sweet potatoes, beef (2023)
Labor force
7.407 million (2024 est.)
Exports - partners
Switzerland 27%, China 15%, India 13%, UAE 12%, DRC 10% (2023)
Imports - partners
South Africa 25%, China 15%, UAE 10%, India 5%, Japan 5% (2023)
Exchange rates
Zambian kwacha (ZMK) per US dollar -
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