Zambia

Economics, Political, and Trade Overview

Source: Feb 10, 2022 Economist Intelligence Unit

Zambia - In Short.

Overview of Zambia

Multiple waves of Bantu-speaking groups moved into and through what is now Zambia over the past thousand years. In the 1880s, the British began securing mineral and other economic concessions from various local leaders and the territory that is now Zambia eventually came under the control of the former British South Africa Company and was incorporated as the protectorate of Northern Rhodesia in 1911. Administrative control was taken over by the UK in 1924. During the 1920s and 1930s, advances in mining spurred development and immigration. The name was changed to Zambia upon independence in 1964. In the 1980s and 1990s, declining copper prices, economic mismanagement, and a prolonged drought hurt the economy. Elections in 1991 brought an end to one-party rule and propelled the Movement for Multiparty Democracy (MMD) to government. The subsequent vote in 1996, however, saw increasing harassment of opposition parties and abuse of state media and other resources. The election in 2001 was marked by administrative problems, with three parties filing a legal petition challenging the election of ruling party candidate Levy MWANAWASA. MWANAWASA was reelected in 2006 in an election that was deemed free and fair. Upon his death in August 2008, he was succeeded by his vice president, Rupiah BANDA, who won a special presidential byelection later that year. The MMD and BANDA lost to the Patriotic Front (PF) and Michael SATA in the 2011 general elections. SATA, however, presided over a period of haphazard economic management and attempted to silence opposition to PF policies. SATA died in October 2014 and was succeeded by his vice president, Guy SCOTT, who served as interim president until January 2015, when Edgar LUNGU won the presidential byelection and completed SATA’s term. LUNGU then won a full term in August 2016 presidential elections. Hakainde HICHILEMA was elected president in August 2021.
Value
Country Full Name
Zambia
Country Code
ZMB
Region
Sub-Saharan Africa
Income Group
Lower middle income
Currency Unit
GDP
18110631358
Population
18383956
Land Area
743390
Net National Income Per Capita
712.7417932
GDP per Capita (PPP)
3457.610102

2020 GDP Growth Rate (Current USD)

2020 GDP Per Capita (Current USD)

2020 Urbanization Rate (%)

2020 Total Fertility Rate (Birth Per Woman)

Doing Business Score (100= Most Friendly)

Zambia - Economic

Economy of Zambia

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. GDP growth picked up in 2017 as mineral prices rose.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, by market-distorting agricultural and energy policies, and growing government debt. Zambia raised $7 billion from international investors by issuing separate sovereign bonds in 2012, 2014, and 2015. Concurrently, it issued over $4 billion in domestic debt and agreed to Chinese-financed infrastructure projects, significantly increasing the country’s public debt burden to more than 60% of GDP. The government has considered refinancing $3 billion worth of Eurobonds and significant Chinese loans to cut debt servicing costs.

Unemployment Rate

Inflation Rate

Zambia - GDP Composition

GDP Composiiton & Value Added of Zambia

Last Updated: Jan, 2021, Updated For 2020.

Zambia - GDP, Value Added

Demographics of Zambia

one of the highest levels of urbanization in Africa; high density in the central area, particularly around the cities of Lusaka, Ndola, Kitwe, and Mufulira as shown in this population distribution map
Geographic Location

Southern Africa, east of Angola, south of the Democratic Republic of the Congo

Races

Bemba 21%, Tonga 13.6%, Chewa 7.4%, Lozi 5.7%, Nsenga 5.3%, Tumbuka 4.4%, Ngoni 4%, Lala 3.1%, Kaonde 2.9%, Namwanga 2.8%, Lunda (north Western) 2.6%, Mambwe 2.5%, Luvale 2.2%, Lamba 2.1%, Ushi 1.9%, Lenje 1.6%, Bisa 1.6%, Mbunda 1.2%, other 13.8%, unspecified 0.4% (2010 est.)

Languages

Bemba 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 9.7%, unspecified 0.2% (2010 est.)note: Zambia is said to have over 70 languages, although many of these may be considered dialects; all of Zambia's major languages are members of the Bantu family; Chewa and Nyanja are mutually intelligible dialects

Religion

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

Dependency & Expectancy of Zambia

Last Updated: Jan, 2021

Dependency Ratio

Expectancy

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Zambia - Social Media Briefing

Zambia - Social Media & Social Commerce

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Politics & Policies of Zambia

2021 Policies Overview

Updated Coming in March 2021 after our team finish summarizing countries policy.

International Organizations

ACP, AfDB, AU, C, COMESA, EITI (compliant country), FAO, G-77, IAEA, IBRD, ICAO, ICCt, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, Interpol, IOC, IOM, IPU, ISO (correspondent), ITSO, ITU, ITUC (NGOs), MIGA, MONUSCO, NAM, OPCW, PCA, SADC, UN, UNAMID, UNCTAD, UNESCO, UNHCR, UNIDO, UNISFA, UNMIL, UNMISS, UNOCI, UNWTO, UPU, WCO, WHO, WIPO, WMO, WTO

Import of Zambia

Export of Zambia

Import Destination

Export Destination