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Zambia

Republic of Zambia

Last updated: 2026-03-28 (today)

Budget

note

note: 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.)

expenditures

$6.19 billion (2021 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2021

$11.728 billion (2021 est.)

Exports 2022

$12.444 billion (2022 est.)

Exports 2023

$11.454 billion (2023 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2021

$7.691 billion (2021 est.)

Imports 2022

$10.022 billion (2022 est.)

Imports 2023

$10.854 billion (2023 est.)

Industries

copper mining and processing, emerald mining, construction, foodstuffs, beverages, chemicals, textiles, fertilizer, horticulture

Labor force

7.407 million (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

note

note: central government debt as a % of GDP

Public debt 2021

71.4% of GDP (2021 est.)

Remittances

note

note: 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.)

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.)

Debt - external

note

note: present value of external debt in current US dollars

Debt - external 2023

$16.597 billion (2023 est.)

Economic overview

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

Unemployment rate

note

note: % of labor force seeking employment

Unemployment rate 2022

6% (2022 est.)

Unemployment rate 2023

6% (2023 est.)

Unemployment rate 2024

6% (2024 est.)

Exports - partners

Switzerland 27%, China 15%, India 13%, UAE 12%, DRC 10% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

South Africa 25%, China 15%, UAE 10%, India 5%, Japan 5% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: 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.)

Real GDP growth rate

note

note: 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.)

Agricultural products

sugarcane, cassava, maize, soybeans, milk, vegetables, wheat, groundnuts, sweet potatoes, beef (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

raw copper, refined copper, gold, precious stones, electricity (2023)

note: top five export commodities based on value in dollars

Imports - commodities

refined petroleum, fertilizers, trucks, sulphur, tractors (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

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.)

Taxes and other revenues

16.8% (of GDP) (2021 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$26.326 billion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

47.1% (2023 est.)

government consumption

13.3% (2023 est.)

investment in inventories

5% (2023 est.)

investment in fixed capital

26.4% (2023 est.)

exports of goods and services

40.8% (2023 est.)

imports of goods and services

-37.4% (2023 est.)

Population below poverty line

60% (2022 est.)

note: % of population with income below national poverty line

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

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.)

Industrial production growth rate

3.5% (2024 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: 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.)

Youth unemployment rate (ages 15-24)

male

10.1% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

9.9% (2024 est.)

female

9.6% (2024 est.)

Reserves of foreign exchange and gold

note

note: 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.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

37.5% (2024 est.)

services

55.1% (2024 est.)

agriculture

1.8% (2024 est.)

Household income or consumption by percentage share

note

note: % share of income accruing to lowest and highest 10% of population

lowest 10%

1.5% (2022 est.)

highest 10%

39.1% (2022 est.)

Gini Index coefficient - distribution of family income

note

note: index (0-100) of income distribution; higher values represent greater inequality

Gini Index coefficient - distribution of family income 2022

51.5 (2022 est.)