Economy Of Zambia
|
Economy overview
|
Despite progress in privatization and budgetary reform, Zambia's economic growth remains below the 5% to 7% necessary to reduce poverty significantly. Privatization of government-owned copper mines relieved the government from covering mammoth losses generated by the industry and greatly improved the chances for copper mining to return to profitability and spur economic growth. Copper output increased in 2003 and is expected to increase again in 2004, due to higher copper prices. The maize harvest doubled in 2003, helping boost GDP by 4.0%. Cooperation continues with international bodies on programs to reduce poverty, including a new lending arrangement with the IMF expected in the second quarter, 2004. A tighter monetary policy will help cut inflation, but Zambia still has a serious problem with fiscal discipline.
|
|
GDP
|
purchasing power parity - $8.596 billion (2004 est.)
|
|
GDP - real growth rate
|
4% (2004 est.)
|
|
GDP - per capita
|
purchasing power parity - $800 (2004 est.)
|
|
GDP - composition by sector
|
agriculture: 15.3%
industry: 27.9%
services: 56.9% (2004 est.)
|
|
Investment gross fixed
|
45.2% of GDP (2004 est.)
|
|
Population below poverty line
|
86% (1993)
|
|
Household income or consumption by percentage share
|
lowest 10%: 1.1%
highest 10%: 41% (1998)
|
|
Distribution of family income - Gini index
|
52.6 (1998)
|
|
Inflation rate consumer prices
|
21.4% (2004 est.)
|
|
Labor force
|
4.59 million (2004 est.)
|
|
Labor force by occupation
|
agriculture 85%, industry 6%, services 9%
|
|
Unemployment rate
|
50% (2000 est.)
|
|
Budget
|
revenues: $896.7 million
expenditures: $1.142 billion, including capital expenditures of NA (2004 est.)
|
|
Public debt
|
133.6% of GDP (2004 est.)
|
|
Agriculture products
|
corn, sorghum, rice, peanuts, sunflower seed, vegetables, flowers, tobacco, cotton, sugarcane, cassava (tapioca); cattle, goats, pigs, poultry, milk, eggs, hides; coffee
|
|
Industries
|
copper mining and processing, construction, foodstuffs, beverages, chemicals, textiles, fertilizer, horticulture
|
|
Industrial production growth rate
|
4% (2004 est.)
|
|
Electricity production
|
7.751 billion kWh (2001)
|
|
Electricity production by source
|
fossil fuel: 0.5%
hydro: 99.5%
other: 0% (2001)
nuclear: 0%
|
|
Electricity consumption
|
5.458 billion kWh (2001)
|
|
Electricity exports
|
1.75 billion kWh (2001)
|
|
Electricity imports
|
0 kWh (2001)
|
|
Oil production
|
0 bbl/day (2001 est.)
|
|
Oil consumption
|
11,000 bbl/day (2001 est.)
|
|
Oil exports
|
NA (2001)
|
|
Oil imports
|
NA (2001)
|
|
Oil proved reserves
|
|
|
Natural gas production
|
|
|
Natural gas consumption
|
|
|
Natural gas exports
|
|
|
Natural gas imports
|
|
|
Natural gas proved reserves
|
|
|
Current account balance
|
$-340 million (2004 est.)
|
|
Exports
|
$1.039 billion f.o.b. (2004 est.)
|
|
Exports commodities
|
copper 55%, cobalt, electricity, tobacco, flowers, cotton
|
|
Exports partners
|
UK 26.7%, South Africa 21.6%, Tanzania 13.9%, Switzerland 8.1% (2003)
|
|
Imports
|
$1.128 billion f.o.b. (2003 est.)
|
|
Imports commodities
|
machinery, transportation equipment, petroleum products, electricity, fertilizer; foodstuffs, clothing
|
|
Imports partners
|
South Africa 48.3%, Zimbabwe 12.8%, UK 5.9%, UAE 4.3% (2003)
|
|
Reserves of foreign exchange gold
|
$247.7 million (2004 est.)
|
|
Debt external
|
$5.281 billion (2004 est.)
|
|
Economic aid recipient
|
$651 million (2000 est.)
|
|
Currency
|
Zambian kwacha (ZMK)
|
|
Currency code
|
ZMK
|
|
Exchange rates
|
Zambian kwacha per US dollar - 4,733.77 (2003), 4,398.59 (2002), 3,610.93 (2001), 3,110.84 (2000), 2,388.02 (1999)
|
|
Fiscal year
|
calendar year
|
Applied Language Solutions offer English Translation , English to Kaonda Translation , English to Lozi Translation , English to Lunda Translation , English to Luvale Translation , English to Nyanja Translation .
This information was reproduced in part from the CIA World Fact book.
Flags
If you would like to use this flag of Zambia or any other on your website you are welcome to do so, all we ask is that you include a link back to our site on the same page. Please click here for information.
Map
If you would like to use this map of Zambia or any other on your website you are welcome to do so, all we ask is that you include a link back to our site on the same page. Please click here for information.
Country Information
If you would like to use this information for Zambia or any other on your website you are welcome to do so, all we ask is that you include a link back to our site on the same page. Please click here for information.