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World > Africa > Zambia > Economy (Facts)

Zambia - Economy (Facts)
Economy - overview: Despite progress in privatization and budgetary reform, Zambia's economic growth in 2005-06 remained somewhat below the 6-7% per year needed 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 has increased steadily since 2004, due to higher copper prices and the opening of new mines. The maize harvest was good again in 2005, helping to boost GDP and agricultural exports. Cooperation continues with international bodies on programs to reduce poverty, including a new lending arrangement with the IMF in the second quarter of 2004. A tighter monetary policy will help cut inflation, but Zambia still has a serious problem with high public debt.
GDP - real growth rate: 5.8% (2006 est.)
GDP (purchasing power parity): $11.64 billion (2006 est.)
GDP (official exchange rate): $5.795 billion (2006 est.)
GDP - per capita (PPP): $1,000 (2006 est.)
GDP - composition by sector: agriculture: 19.9%
industry: 28.9%
services: 51.2% (2006 est.)
Population below poverty line: 86% (1993)
Household income or consumption by percentage share: lowest 10%: 1.1%
highest 10%: 41% (1998)
Inflation rate (consumer prices): 8.8% (2006 est.)
Labor force: 4.903 million (2006 est.)
Labor force - by occupation: agriculture: 85%
industry: 6%
services: 9%
Unemployment rate: 50% (2000 est.)
Budget: revenues: $2.674 billion
expenditures: $2.99 billion; including capital expenditures of NA (2006 est.)
Industries: copper mining and processing, construction, foodstuffs, beverages, chemicals, textiles, fertilizer, horticulture
Industrial production growth rate: 10.1% (2006 est.)
Electricity - production: 9.962 billion kWh (2004)
Electricity - consumption: 6.692 billion kWh (2004)
Electricity - exports: 2.975 billion kWh (2004)
Electricity - imports: 403 million kWh (2004)
Oil - production: 140 bbl/day (2004 est.)
Oil - consumption: 13,000 bbl/day (2004 est.)
Oil - exports: NA bbl/day
Oil - imports: NA bbl/day
Oil - proved reserves: 0 bbl
Natural gas - production: 0 cu m (2004 est.)
Agriculture - products: corn, sorghum, rice, peanuts, sunflower seed, vegetables, flowers, tobacco, cotton, sugarcane, cassava (tapioca), coffee; cattle, goats, pigs, poultry, milk, eggs, hides
Exports: $3.928 billion f.o.b. (2006 est.)
Exports - commodities: copper/cobalt 64%, cobalt, electricity; tobacco, flowers, cotton
Exports - partners: Switzerland 24.6%, South Africa 10.8%, Thailand 10.3%, China 9.9%, Italy 9%, Democratic Republic of the Congo 5%, Tanzania 4.7% (2006)
Imports: $3.092 billion f.o.b. (2006 est.)
Imports - commodities: machinery, transportation equipment, petroleum products, electricity, fertilizer; foodstuffs, clothing
Imports - partners: South Africa 50%, Zimbabwe 5.4%, UAE 4.7%, China 4.4% (2006)
Debt - external: $4.397 billion (2006 est.)
Economic aid - recipient: $640.6 million (2002)
Currency: Zambian Kwacha (ZMK)
Currency code: ZMK
Exchange rates: Zambian kwacha per US dollar - 3,601.5 (2006), 4,463.5 (2005), 4,778.9 (2004), 4,733.3 (2003), 4,398.6 (2002)
Fiscal year: calendar year


Facts at a Glance: Geography - People - Government - Economy - Communications - Transportation - Military - Climate - Current Time - Ranking Positions
Notes and Commentary: People - Economy - Government and Political Conditions - Historical Highlights - Foreign Relations - Relations with U.S.



Facts at a Glance
Geography
People
Government
Economy
Communications
Transportation
Military
Climate
Current Time
Ranking Positions


Notes and Commentary
People
Economy
Government and Political Conditions
Historical Highlights
Foreign Relations
Relations with U.S.





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