The CIA World Factbook Every edition, 1990 to 2025 Africa
Economic overview Zambia, in 36 editions.
The entry for Zambia published Economic overview in 36 editions of 36, from 1990 to 2025. The text changed in 30 editions. Each is shown as published. Economic overview in every entry.
- editions changed the text
- 30
- the first edition with it
- 1990
- the latest edition with it
- 2025
Published as “Overview” (1990 to 1995), “Economic overview” (1996 to 2025), “Economy - overview” (1997 to 2019), “Economy-overview” (1998) and “Economy--overview” (1999).
field in that editiontext changed from the edition beforenot in that editionthe edition shownChoose an edition on the strip beside the text, or step through them with the arrows. Mark changes compares it with the edition before: the marks are ours, words added and words removed.
2025 edition
Same as 2024Published as “Overview”
Despite temporary growth in 1988, the economy has been in decline for more than a decade with falling imports and growing foreign debt. Economic difficulties stem from a sustained drop in copper production and ineffective economic policies. In 1988 real GDP stood only slightly higher than that of 10 years before, while an annual population growth of more than 3% has brought a decline in per capita GDP of 25% during the same period. A high inflation rate has also added to Zambia's economic woes in recent years.
Despite temporary growth in 1988, the economy has been in decline for more than a decade with falling imports and growing foreign debt. Economic difficulties stem from a sustained drop in copper production and ineffective economic policies. In 1988 real GDP stood only slightly higher than that of 10 years before, while an annual population growth of more than 3% has brought a decline in per capita GDP of 25% during the same period. A high inflation rate has also added to Zambia's economic woes in recent years.
Published as “Overview”
The economy has been in decline for more than a decade with falling imports and growing foreign debt. Economic difficulties stem from a sustained drop in copper production and ineffective economic policies. In 1990 real GDP stood only slightly higher than that of 10 years before, while an annual population growth of more than 3% has brought a decline in per capita GDP of 25% during the same period. A high inflation rate has also added to Zambia's economic woes in recent years.
Despite temporary growth in 1988, the The economy has been in decline for more than a decade with falling imports and growing foreign debt. Economic difficulties stem from a sustained drop in copper production and ineffective economic policies. In 1988 1990 real GDP stood only slightly higher than that of 10 years before, while an annual population growth of more than 3% has brought a decline in per capita GDP of 25% during the same period. A high inflation rate has also added to Zambia's economic woes in recent years.
Published as “Overview”
The economy has been in decline for more than a decade with falling imports and growing foreign debt. Economic difficulties stem from a sustained drop in copper production and ineffective economic policies. In 1991 real GDP fell by 2%. An annual population growth of more than 3% has brought a decline in per capita GDP of 50% over the past decade. A high inflation rate has also added to Zambia's economic woes in recent years.
The economy has been in decline for more than a decade with falling imports
and growing foreign debt. Economic difficulties stem from a sustained drop
in copper production and ineffective economic policies. In 1990 1991 real GDP stood only slightly higher than that of 10 years before, while an
fell by 2%. An annual population growth of more than 3% has brought a
decline in per capita GDP of 25% during 50% over the same period. past decade. A high inflation rate
has also added to Zambia's economic woes in recent years.
Published as “Overview”
The economy has been in decline for more than a decade with falling imports and growing foreign debt. Economic difficulties stem from a chronically depressed level of copper production and ineffective economic policies. In 1991 real GDP fell by 2% and in 1992 by 3% more. An annual population growth of more than 3% has brought a decline in per capita GDP of 50% over the past decade. A high inflation rate has also added to Zambia's economic woes in recent years, as well as severe drought in the crop year 1991/92.
The economy has been in decline for more than a decade with falling imports
and growing foreign debt. Economic difficulties stem from a sustained drop chronicallyin depressed level of copper production and ineffective economic policies. In
1991 real GDP2%. 2% and in 1992 by 3% more. An annual population growth
of more than 3% has brought a
decade. A high inflation rate
recent years. years, as well as severe drought in the crop year 1991/92.
Published as “Overview”
The economy has been in decline for more than a decade with falling imports and growing foreign debt. Economic difficulties stem from a chronically depressed level of copper production and ineffective economic policies. In 1991 real GDP fell by 2% and in 1992 by 3% more. An annual population growth of 3% has brought a decline in per capita GDP of 50% over the past decade. A high inflation rate has also added to Zambia's economic woes in recent years.
The economy has been in decline for more than a decade with falling imports
imports and growing foreign debt. Economic difficulties stem from a chronically
chronically depressed level of copper production and ineffective
economic policies. In
An annual population growthmore than 3% has brought a decline in per capita
GDP of 50% over the past
to Zambia's economic woes inyears, as well as severe drought in the crop year 1991/92. years.
Published as “Overview”
Prior to 1993 the economy had been in decline for more than a decade with falling imports and growing foreign debt. Economic difficulties stemmed largely from a chronically depressed level of copper production and weak copper prices, generally ineffective economic policies, and high inflation. An annual population growth of 3% brought a decline in per capita GDP of 50% over the decade. However, economic reforms enacted since 1992 have helped reduce inflation, have begun to strengthen the social safety net, and have been accompanied by GDP growth at an estimated 6.8% in 1993 and 4% in 1994. The huge external debt remains a key problem.
The Prior to 1993 the economy has had been in decline for more than
a decade with falling
difficulties stem stemmed largely from a
copper production and weak copper prices, generally ineffective
economic policies. In 1991 real GDP fell by 2% policies, and in 1992 by 3% more.high inflation. An annual population growth of
3% has brought a decline in per capitapast decade. A high inflation rate has also addedto Zambia's However, economic woes reforms enacted since 1992 have helped reduce
inflation, have begun to strengthen the social safety net, and have
been accompanied by GDP growth at an estimated 6.8% in recent years. 1993 and 4% in
1994. The huge external debt remains a key problem.
Despite continuing progress in privatization and budgetary reform, Zambia's economy is showing little improvement. Inflation, while slowing somewhat, continues to be a major concern to the CHILUBA government. Four of Zambia's 20 banks collapsed in 1995, and the nation's debt stood at about $7 billion. Zambia's copper mining sector, which accounts for over 80% of the nation's foreign currency intake, is struggling. Production rates are down as are world copper prices.
Food production is insufficient to meet the country's needs due to previous droughts and an end to government subsidization of agriculture. While the government's economic program aims for 6% growth in each of the next three years, a growth rate of 3-5% is more likely.
Rewritten: too little of the 1995 text remains to mark the changes.
Despite continuing progress in privatization
and budgetary reform, Zambia's economy is showing little
improvement. Inflation, while slowing somewhat, continues to be a
major concern to the CHILUBA government. Four of Zambia's 20 banks
collapsed in 1995, and the nation's debt stood at about $7 billion.
Zambia's copper mining sector, which accounts for over 80% of the
nation's foreign currency intake, is struggling. Production rates
are down as are world copper prices. Food production is insufficient
to meet the country's needs due to previous droughts and an end to
government subsidization of agriculture. While the government's
economic program aims for 6% growth in each of the next three years,
a growth rate of 3-5% is more likely.
Published as “Economy - overview”
Despite progress in privatization and budgetary reform, Zambia's economy has a long way to go. Inflation, while slowing somewhat, continues to be a major concern to the CHILUBA government. Zambia's copper mining sector, which accounts for over 80% of the nation's foreign currency intake, is struggling. Production rates are down as are world copper prices. Aid cuts by Zambia's donors, arising out of concern for the November 1996 flawed election, will severely damage Zambia's economic prospects. Urged by the World Bank, Zambia has embarked on a privatization program which is to include the all-important copper industry.
Despite continuing progress in privatization
reform, Zambia's economy is showing little has a long way to go. Inflation, while
improvement.
slowing somewhat, continues to be agovernment. Four of Zambia's 20 bankscollapsed in 1995, and the nation's debt stood at about $7 billion.government. Zambia's copper mining sector, which accounts for over 80%
of therates
rates are down as are world copper prices. Food production is insufficient Aid cuts by Zambia's
to meet the country's needs due to previous droughts and an end togovernment subsidization donors, arising out of agriculture. While concern for the government's November 1996 flawed election,
will severely damage Zambia's economic program aims for 6% growth in each of prospects. Urged by the next three years, World
Bank, Zambia has embarked on a growth rate of 3-5% privatization program which is more likely. to
include the all-important copper industry.
Published as “Economy-overview”
Despite progress in privatization and budgetary reform, Zambia's economy has a long way to go. Inflation, while slowing somewhat, continues to be a major concern to the CHILUBA government. Zambia's copper mining sector, which accounts for over 80% of the nation's foreign currency intake, is struggling. Production rates are down as are world copper prices. Aid cuts by Zambia's donors, arising out of concern for the November 1996 flawed election, will severely damage Zambia's economic prospects. Urged by the World Bank, Zambia has embarked on a privatization program which is to include the all-important copper industry.
Despite progress in privatization and budgetary
reform, Zambia's economy has a long way to go. Inflation, while
slowing somewhat, continues to be a major concern to the CHILUBA
government. Zambia's copper mining sector, which accounts for over 80%
of the nation's foreign currency intake, is struggling. Production
rates are down as are world copper prices. Aid cuts by Zambia's
donors, arising out of concern for the November 1996 flawed election,
will severely damage Zambia's economic prospects. Urged by the World
Bank, Zambia has embarked on a privatization program which is to
include the all-important copper industry.
Published as “Economy--overview”
Despite progress in privatization and budgetary reform, Zambia's economy has a long way to go. Inflation, while slowing somewhat, continues to be a major concern to the CHILUBA government. Zambia's copper mining sector, which accounts for over 80% of the nation's foreign currency intake, is struggling. Production rates are down as are world copper prices. Aid cuts by Zambia's donors, arising out of concern for the November 1996 flawed election, also have damaged Zambia's economic prospects.
Urged by the World Bank, Zambia has embarked on a privatization program which is to include the all-important copper industry. Until a deal on the copper sector is concluded, perhaps by mid-1999, economic prospects will remain clouded.
Despite progress in privatization and budgetary
reform, Zambia's economy has a long way to go. Inflation, while
slowing somewhat, continues to be a major concern to the CHILUBA
government. Zambia's copper mining sector, which accounts for over 80%
80% of the nation's foreign currency intake, is struggling. Production
Production rates are down as are world copper prices. Aid cuts by Zambia's
Zambia's donors, arising out of concern for the November 1996 flawed election,will severely damage election, also have damaged Zambia's economic prospects. Urged by
the World
is to
copper sector is concluded, perhaps by mid-1999, economic prospects
will remain clouded.
Published as “Economy - overview”
Despite progress in privatization and budgetary reform, Zambia's economy has a long way to go. The recent privatization of the huge government-owned Zambia Consolidated Copper Mines (ZCCM) should greatly improve Zambia's prospects for international debt relief, as the government will no longer have to cover the mammoth losses generated by that sector. Inflation and unemployment rates remain high, however.
Rewritten: too little of the 1999 text remains to mark the changes.
Despite progress in privatization and budgetary reform, Zambia's economy has a long way to go. The recent privatization of the huge government-owned Zambia Consolidated Copper Mines (ZCCM) should greatly improve Zambia's prospects for international debt relief, as the government will no longer have to cover the mammoth losses generated by that sector. Inflation and unemployment rates remain high, however.
Published as “Economy - overview”
Despite progress in privatization and budgetary reform, Zambia's economy has a long way to go. 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. In late 2000, Zambia was determined to be eligible for debt relief under the Heavily Indebted Poor Countries (HIPC) initiative. Inflation and unemployment rates remain high, but the GDP growth rate should rise in 2001.
Despite progress in privatization and budgetary reform, Zambia's economy has a long way to go. The recent privatization Privatization of the huge government-owned Zambia Consolidated Copper Mines (ZCCM) should greatly improve Zambia's prospects for international debt relief, as copper mines relieved the government will no longer have to cover the from covering mammoth losses generated by that sector. the industry and greatly improved the chances for copper mining to return to profitability and spur economic growth. In late 2000, Zambia was determined to be eligible for debt relief under the Heavily Indebted Poor Countries (HIPC) initiative. Inflation and unemployment rates remain high, however. but the GDP growth rate should rise in 2001.
Published as “Economy - overview”
Despite progress in privatization and budgetary reform, Zambia's economy has a long way to go. 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. However, low mineral prices have slowed the benefits from privatizing the mines and reduced incentives for further private investment in the sector.
In late 2000, Zambia was determined to be eligible for debt relief under the Heavily Indebted Poor Countries (HIPC) initiative, but Zambia has not yet finalized its Poverty Reduction Strategy paper. Unemployment rates remain high, but GDP growth should continue at about 4%. Inflation should remain close to 20%.
Despite progress in privatization and budgetary reform, Zambia's economy has a long way to go. 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. However, low mineral prices have slowed the benefits from privatizing the mines and reduced incentives for further private investment in the sector. In late 2000, Zambia was determined to be eligible for debt relief under the Heavily Indebted Poor Countries (HIPC) initiative. Inflation and unemployment initiative, but Zambia has not yet finalized its Poverty Reduction Strategy paper. Unemployment rates remain high, but the GDP growth rate should rise in 2001. continue at about 4%. Inflation should remain close to 20%.
Published as “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. However, low mineral prices have slowed the benefits of privatizing the mines and have reduced incentives for further private investment in the sector. Cooperation continues with international bodies on programs to reduce poverty.
Despite progress in privatization and budgetary reform, Zambia's economy has a long way economic growth remains below the 5% to go. 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. However, low mineral prices have slowed the benefits from of privatizing the mines and have reduced incentives for further private investment in the sector. In late 2000, Zambia was determined to be eligible for debt relief under the Heavily Indebted Poor Countries (HIPC) initiative, but Zambia has not yet finalized its Poverty Reduction Strategy paper. Unemployment rates remain high, but GDP growth should continue at about 4%. Inflation should remain close Cooperation continues with international bodies on programs to 20%. reduce poverty.
Published as “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.
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. However, low mineral prices have slowed the benefits of privatizing the mines Copper output increased in 2003 and have reduced incentives for further private investment is expected to increase again in the sector. 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. 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.
Published as “Economy - overview”
Despite progress in privatization and budgetary reform, Zambia's economic growth remains somewhat below the 5% to 7% 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 increased in 2004 and is expected to increase again in 2005, due to higher copper prices and the opening of new mines.
The maize harvest was again good in 2004, helping 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, 2004. A tighter monetary policy will help cut inflation, but Zambia still has a serious problem with fiscal discipline.
Despite progress in privatization and budgetary reform, Zambia's economic growth remains somewhat below the 5% to 7% necessary 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 increased in 2003 2004 and is expected to increase again in 2004, 2005, due to higher copper prices. prices and the opening of new mines. The maize harvest doubled was again good in 2003, 2004, helping boost GDP by 4.0%. and agricultural exports. 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.
Published as “Economy - overview”
Despite progress in privatization and budgetary reform, Zambia's economic growth remains somewhat below the 6%-7% 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 again good in 2005, helping 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.
Despite progress in privatization and budgetary reform, Zambia's economic growth remains somewhat below the 5% to 7% 6%-7% 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 in 2004 and is expected to increase again in 2005, steadily since 2004, due to higher copper prices and the opening of new mines. The maize harvest was again good in 2004, 2005, helping 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, quarter of 2004. A tighter monetary policy will help cut inflation, but Zambia still has a serious problem with fiscal discipline. high public debt.
Published as “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.
Despite progress in privatization and budgetary reform, Zambia's economic growth remains in 2005-06 remained somewhat below the 6%-7% 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 again 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.
Published as “Economy - overview”
Zambia's economy has experienced modest growth in recent years, with real GDP growth in 2005-07 between 5-6% per year. Privatization of government-owned copper mines in the 1990s 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 foreign investment.
In 2005, Zambia qualified for debt relief under the Highly Indebted Poor Country Initiative, consisting of approximately USD 6 billion in debt relief. Zambia experienced a bumper harvest in 2007, which helped to boost GDP and agricultural exports and contain inflation. Although poverty continues to be significant problem in Zambia, its economy has strengthened, featuring single-digit inflation, a relatively stable currency, decreasing interest rates, and increasing levels of trade.
Despite progress in privatization and budgetary reform, Zambia's economic economy has experienced modest growth in 2005-06 remained somewhat below the 6-7% recent years, with real GDP growth in 2005-07 between 5-6% per year needed to reduce poverty significantly. year. Privatization of government-owned copper mines in the 1990s 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 foreign investment. In 2005, Zambia qualified for debt relief under the opening Highly Indebted Poor Country Initiative, consisting of new mines. The maize approximately USD 6 billion in debt relief. Zambia experienced a bumper harvest was good again in 2005, helping 2007, which helped to boost GDP and agricultural exports. Cooperation exports and contain inflation. Although poverty continues with international bodies on programs to reduce poverty, including a new lending arrangement with the IMF be significant problem in the second quarter of 2004. A tighter monetary policy will help cut inflation, but Zambia still Zambia, its economy has strengthened, featuring single-digit inflation, a serious problem with high public debt. relatively stable currency, decreasing interest rates, and increasing levels of trade.
Published as “Economy - overview”
Zambia's economy has experienced strong growth in recent years, with real GDP growth in 2005-08 about 6% per year. Privatization of government-owned copper mines in the 1990s 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 foreign investment.
In 2005, Zambia qualified for debt relief under the Highly Indebted Poor Country Initiative, consisting of approximately USD 6 billion in debt relief. Zambia experienced a bumper harvest in 2007, which helped to boost GDP and agricultural exports and contain inflation. Although poverty continues to be significant problem in Zambia, its economy has strengthened, featuring single-digit inflation, a relatively stable currency, decreasing interest rates, and increasing levels of trade. The decline in world commodity prices and demand will hurt GDP growth in 2009, and elections and campaign promises are likely to weaken Zambia's improved fiscal stance.
Zambia's economy has experienced modest strong growth in recent years, with real GDP growth in 2005-07 between 5-6% 2005-08 about 6% per year. Privatization of government-owned copper mines in the 1990s 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 foreign investment. In 2005, Zambia qualified for debt relief under the Highly Indebted Poor Country Initiative, consisting of approximately USD 6 billion in debt relief. Zambia experienced a bumper harvest in 2007, which helped to boost GDP and agricultural exports and contain inflation. Although poverty continues to be significant problem in Zambia, its economy has strengthened, featuring single-digit inflation, a relatively stable currency, decreasing interest rates, and increasing levels of trade. The decline in world commodity prices and demand will hurt GDP growth in 2009, and elections and campaign promises are likely to weaken Zambia's improved fiscal stance.
Published as “Economy - overview”
Zambia's economy has experienced strong growth in recent years, with real GDP growth in 2005-08 about 6% per year. Privatization of government-owned copper mines in the 1990s 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 foreign investment.
In 2005, Zambia qualified for debt relief under the Highly Indebted Poor Country Initiative, consisting of approximately USD 6 billion in debt relief. Poverty remains a significant problem in Zambia, despite a stronger economy. Declining world commodity prices and demand slowed GDP growth in 2008, but a sharp rebound in copper prices and a bumper maize crop helped Zambia recover. Lack of economic diversity subjects Zambia to fluctuations in copper prices and in the weather.
Zambia's economy has experienced strong growth in recent years, with real GDP growth in 2005-08 about 6% per year. Privatization of government-owned copper mines in the 1990s 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 foreign investment. In 2005, Zambia qualified for debt relief under the Highly Indebted Poor Country Initiative, consisting of approximately USD 6 billion in debt relief. Zambia experienced Poverty remains a bumper harvest in 2007, which helped to boost GDP and agricultural exports and contain inflation. Although poverty continues to be significant problem in Zambia, its economy has strengthened, featuring single-digit inflation, despite a relatively stable currency, decreasing interest rates, and increasing levels of trade. The decline in stronger economy. Declining world commodity prices and demand will hurt slowed GDP growth in 2009, and elections 2008, but a sharp rebound in copper prices and campaign promises are likely a bumper maize crop helped Zambia recover. Lack of economic diversity subjects Zambia to weaken Zambia's improved fiscal stance. fluctuations in copper prices and in the weather.
Published as “Economy - overview”
Zambia's economy has experienced strong growth in recent years, with real GDP growth in 2005-10 about 6% per year. Privatization of government-owned copper mines in the 1990s relieved the government from covering mammoth losses generated by the industry and greatly increased copper mining output and profitability to spur economic growth. Copper output has increased steadily since 2004, due to higher copper prices and foreign investment.
In 2005, Zambia qualified for debt relief under the Highly Indebted Poor Country Initiative, consisting of approximately USD 6 billion in debt relief. Poverty remains a significant problem in Zambia, despite a stronger economy. Zambia's dependency on copper makes it vulnerable to depressed commodity prices, but record high copper prices and a bumper maize crop in 2010 helped Zambia rebound quickly from the world economic slowdown that began in 2008.
A high birth rate, relatively high HIV/AIDS burden, and market distorting agricultural policies have meant that Zambia's economic growth has not dramatically decreased the stubbornly high poverty rates.
Zambia's economy has experienced strong growth in recent years, with real GDP growth in 2005-08 2005-10 about 6% per year. Privatization of government-owned copper mines in the 1990s relieved the government from covering mammoth losses generated by the industry and greatly improved the chances for increased copper mining to return to profitability output and profitability to spur economic growth. Copper output has increased steadily since 2004, due to higher copper prices and foreign investment. In 2005, Zambia qualified for debt relief under the Highly Indebted Poor Country Initiative, consisting of approximately USD 6 billion in debt relief. Poverty remains a significant problem in Zambia, despite a stronger economy. Declining world Zambia's dependency on copper makes it vulnerable to depressed commodity prices and demand slowed GDP growth in 2008, prices, but a sharp rebound in record high copper prices and a bumper maize crop in 2010 helped Zambia recover. Lack of rebound quickly from the world economic diversity subjects Zambia to fluctuations slowdown that began in copper prices 2008. A high birth rate, relatively high HIV/AIDS burden, and in market distorting agricultural policies have meant that Zambia's economic growth has not dramatically decreased the weather. stubbornly high poverty rates.
Published as “Economy - overview”
Zambia's economy has experienced strong growth in recent years, with real GDP growth in 2005-12 more than 6% per year. Privatization of government-owned copper mines in the 1990s relieved the government from covering mammoth losses generated by the industry and greatly increased copper mining output and profitability to spur economic growth. Copper output has increased steadily since 2004, due to higher copper prices and foreign investment.
In 2005, Zambia qualified for debt relief under the Highly Indebted Poor Country Initiative, consisting of approximately US$6 billion in debt relief. Poverty remains a significant problem in Zambia, despite a stronger economy. Zambia's dependency on copper makes it vulnerable to depressed commodity prices, but record high copper prices and a bumper maize crop in 2010 helped Zambia rebound quickly from the world economic slowdown that began in 2008.
Zambia has made some strides to improve the ease of doing business. A high birth rate, relatively high HIV/AIDS burden, and market distorting agricultural policies have meant that Zambia's economic growth has not dramatically decreased the stubbornly high poverty rates.
Zambia's economy has experienced strong growth in recent years, with real GDP growth in 2005-10 about 2005-12 more than 6% per year. Privatization of government-owned copper mines in the 1990s relieved the government from covering mammoth losses generated by the industry and greatly increased copper mining output and profitability to spur economic growth. Copper output has increased steadily since 2004, due to higher copper prices and foreign investment. In 2005, Zambia qualified for debt relief under the Highly Indebted Poor Country Initiative, consisting of approximately USD 6 US$6 billion in debt relief. Poverty remains a significant problem in Zambia, despite a stronger economy. Zambia's dependency on copper makes it vulnerable to depressed commodity prices, but record high copper prices and a bumper maize crop in 2010 helped Zambia rebound quickly from the world economic slowdown that began in 2008. Zambia has made some strides to improve the ease of doing business. A high birth rate, relatively high HIV/AIDS burden, and market distorting agricultural policies have meant that Zambia's economic growth has not dramatically decreased the stubbornly high poverty rates.
Published as “Economy - overview”
Zambia's economy has experienced strong growth in recent years, with real GDP growth in 2005-12 more than 6% per year. Privatization of government-owned copper mines in the 1990s relieved the government from covering mammoth losses generated by the industry and greatly increased copper mining output and profitability to spur economic growth. Copper output has increased steadily since 2004, due to higher copper prices and foreign investment.
In 2005, Zambia qualified for debt relief under the Highly Indebted Poor Country Initiative, consisting of approximately US$6 billion in debt relief. Poverty remains a significant problem in Zambia, despite a stronger economy. Zambia's dependency on copper makes it vulnerable to depressed commodity prices, but record high copper prices and a bumper maize crop in 2010 helped Zambia rebound quickly from the world economic slowdown that began in 2008.
Zambia has made some strides to improve the ease of doing business. A high birth rate, relatively high HIV/AIDS burden, and market distorting agricultural policies have meant that Zambia''s economic growth has not dramatically decreased the stubbornly high poverty rate.
Zambia's economy has experienced strong growth in recent years, with real GDP growth in 2005-12 more than 6% per year. Privatization of government-owned copper mines in the 1990s relieved the government from covering mammoth losses generated by the industry and greatly increased copper mining output and profitability to spur economic growth. Copper output has increased steadily since 2004, due to higher copper prices and foreign investment. In 2005, Zambia qualified for debt relief under the Highly Indebted Poor Country Initiative, consisting of approximately US$6 billion in debt relief. Poverty remains a significant problem in Zambia, despite a stronger economy. Zambia's dependency on copper makes it vulnerable to depressed commodity prices, but record high copper prices and a bumper maize crop in 2010 helped Zambia rebound quickly from the world economic slowdown that began in 2008. Zambia has made some strides to improve the ease of doing business. A high birth rate, relatively high HIV/AIDS burden, and market distorting agricultural policies have meant that Zambia's Zambia''s economic growth has not dramatically decreased the stubbornly high poverty rates. rate.
Published as “Economy - overview”
Zambia's economy has experienced strong growth in recent years, with real GDP growth in 2005-13 more than 6% per year. Privatization of government-owned copper mines in the 1990s relieved the government from covering mammoth losses generated by the industry and greatly increased copper mining output and profitability to spur economic growth. Copper output has increased steadily since 2004, due to higher copper prices and foreign investment.
Zambia's dependency on copper makes it vulnerable to depressed commodity prices, but record high copper prices and a bumper maize crop in 2010 helped Zambia rebound quickly from the world economic slowdown that began in 2008. Zambia has made some strides to improve the ease of doing business. Regulatory changes by the current government in 2012-2013 included Statutory Instruments (SI) Number 33 (mandating use of the kwacha for domestic transactions) and SI Number 55 (monitoring foreign exchange transactions). Along with problems of fiscal management and weakening global copper prices, these SI's were perceived as undermining confidence in Zambia's economy and currency, leading to sharp depreciation of the kwacha in March 2014.
In response, the Minister of Finance revoked SI 33 and 55 in late March 2014. Despite a strong economy, poverty remains a significant problem in Zambia, made worse by a high birth rate, relatively high HIV/AIDS burden, and by market distorting agricultural policies.
Zambia's economy has experienced strong growth in recent years, with real GDP growth in 2005-12 2005-13 more than 6% per year. Privatization of government-owned copper mines in the 1990s relieved the government from covering mammoth losses generated by the industry and greatly increased copper mining output and profitability to spur economic growth. Copper output has increased steadily since 2004, due to higher copper prices and foreign investment. In 2005, Zambia qualified for debt relief under the Highly Indebted Poor Country Initiative, consisting of approximately US$6 billion in debt relief. Poverty remains a significant problem in Zambia, despite a stronger economy. Zambia's dependency on copper makes it vulnerable to depressed commodity prices, but record high copper prices and a bumper maize crop in 2010 helped Zambia rebound quickly from the world economic slowdown that began in 2008. Zambia has made some strides to improve the ease of doing business. A Regulatory changes by the current government in 2012-2013 included Statutory Instruments (SI) Number 33 (mandating use of the kwacha for domestic transactions) and SI Number 55 (monitoring foreign exchange transactions). Along with problems of fiscal management and weakening global copper prices, these SI's were perceived as undermining confidence in Zambia's economy and currency, leading to sharp depreciation of the kwacha in March 2014. In response, the Minister of Finance revoked SI 33 and 55 in late March 2014. Despite a strong economy, poverty remains a significant problem in Zambia, made worse by a high birth rate, relatively high HIV/AIDS burden, and by market distorting agricultural policies have meant that Zambia''s economic growth has not dramatically decreased the stubbornly high poverty rate. policies.
Published as “Economy - overview”
Zambia has had one of the world’s fastest growing economies for the past ten years, with real GDP growth averaging roughly 6.7% per annum. Privatization of government-owned copper mines in the 1990s relieved the government from covering mammoth losses generated by the industry and greatly increased copper mining output and profitability, spurring economic growth. Copper output increased steadily from 2004, due to higher copper prices and foreign investment, but weakened in 2014 when Zambia was overtaken by the Democratic Republic of Congo as Africa’s largest copper producer.
Zambia's dependency on copper makes it vulnerable to depressed commodity prices, but record high copper prices and a bumper maize crop in 2010 helped Zambia rebound quickly from the world economic slowdown that began in 2008. Despite 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, and by market-distorting agricultural policies.
Economic policy inconsistency and poor budget execution in recent years has hindered the economy and contributed to weakness in the kwacha, which was Africa’s worst performing currency during 2014. Zambia has raised $1.75 billion from international investors by issuing separate sovereign bonds in September 2012 and April 2014, significantly increasing the country’s public debt as a share of GDP. On January 1, 2015, a new mineral royalty tax regime dramatically increased mining taxes, and has led to an economic impasse between the government and the mines. If left intact, the new tax could result in the closure of less profitable mines, the loss of thousands of jobs, and the loss of additional foreign investment.
Zambia's economy Zambia has experienced strong growth in recent had one of the world’s fastest growing economies for the past ten years, with real GDP growth in 2005-13 more than 6% averaging roughly 6.7% per year. annum. Privatization of government-owned copper mines in the 1990s relieved the government from covering mammoth losses generated by the industry and greatly increased copper mining output and profitability to spur profitability, spurring economic growth. Copper output has increased steadily since from 2004, due to higher copper prices and foreign investment. investment, but weakened in 2014 when Zambia was overtaken by the Democratic Republic of Congo as Africa’s largest copper producer. Zambia's dependency on copper makes it vulnerable to depressed commodity prices, but record high copper prices and a bumper maize crop in 2010 helped Zambia rebound quickly from the world economic slowdown that began in 2008. Zambia has made some strides to improve the ease of doing business. Regulatory changes by the current government in 2012-2013 included Statutory Instruments (SI) Number 33 (mandating use of the kwacha for domestic transactions) and SI Number 55 (monitoring foreign exchange transactions). Along with problems of fiscal management Despite strong economic growth and weakening global copper prices, these SI's were perceived its status as undermining confidence in Zambia's economy and currency, leading to sharp depreciation of the kwacha in March 2014. In response, the Minister of Finance revoked SI 33 and 55 in late March 2014. Despite a strong economy, lower middle-income country, widespread and extreme rural poverty remains a and high unemployment levels remain significant problem in Zambia, problems, made worse by a high birth rate, a relatively high HIV/AIDS burden, and by market distorting market-distorting agricultural policies. Economic policy inconsistency and poor budget execution in recent years has hindered the economy and contributed to weakness in the kwacha, which was Africa’s worst performing currency during 2014. Zambia has raised $1.75 billion from international investors by issuing separate sovereign bonds in September 2012 and April 2014, significantly increasing the country’s public debt as a share of GDP. On January 1, 2015, a new mineral royalty tax regime dramatically increased mining taxes, and has led to an economic impasse between the government and the mines. If left intact, the new tax could result in the closure of less profitable mines, the loss of thousands of jobs, and the loss of additional foreign investment.
Published as “Economy - overview”
Zambia has had one of the world’s fastest growing economies for the past ten years, with real GDP growth averaging roughly 6.7% per annum, though growth slowed in 2015 to just over 3%, 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.
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, and by market-distorting agricultural and energy policies. Economic policy inconsistency and poor budget execution in recent years has hindered the economy and contributed to weakness in the kwacha, which was Africa’s worst performing currency during 2015.
Zambia has raised $7 billion from international investors by issuing separate sovereign bonds in September 2012, April 2014, and July 2015, significantly increasing the country’s public debt as a share of GDP.
Poor management of water resources has also contributed to a power generation shortage, which has hampered industrial productivity and contributed to an increase in year-on-year inflation to 23% by March 2016. Zambia’s currency, the kwacha, also depreciated sharply against the dollar through 2015, before the central bank restricted lending.
Zambia has had one of the world’s fastest growing economies for the past ten years, with real GDP growth averaging roughly 6.7% per annum. Privatization of government-owned copper mines annum, though growth slowed in the 1990s relieved the government from covering mammoth losses generated by the industry and greatly increased 2015 to just over 3%, due to falling copper mining output prices, reduced power generation, and profitability, spurring depreciation of the kwacha. Zambia’s lack of economic growth. Copper output increased steadily from 2004, due to higher diversification and dependency on copper prices as its sole major export makes it vulnerable to fluctuations in the world commodities market and foreign investment, but weakened prices turned downward in 2014 when 2015 due to declining demand from China; Zambia was overtaken by the Democratic Republic of Congo as Africa’s largest copper producer. Zambia's dependency on copper makes it vulnerable to depressed commodity prices, but record high copper prices and a bumper maize crop in 2010 helped Zambia rebound quickly from the world economic slowdown that began in 2008.
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, and by market-distorting agricultural and energy policies. Economic policy inconsistency and poor budget execution in recent years has hindered the economy and contributed to weakness in the kwacha, which was Africa’s worst performing currency during 2014. 2015. Zambia has raised $1.75 $7 billion from international investors by issuing separate sovereign bonds in September 2012 and 2012, April 2014, and July 2015, significantly increasing the country’s public debt as a share of GDP. On January 1, 2015,
Poor management of water resources has also contributed to a new mineral royalty tax regime dramatically increased mining taxes, and power generation shortage, which has led hampered industrial productivity and contributed to an economic impasse between the government and the mines. If left intact, the new tax could result increase in year-on-year inflation to 23% by March 2016. Zambia’s currency, the closure of less profitable mines, kwacha, also depreciated sharply against the loss of thousands of jobs, and dollar through 2015, before the loss of additional foreign investment. central bank restricted lending.
Published as “Economy - overview”
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 in 2015 and 2016 to just under 3%, 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.
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, and by market-distorting agricultural and energy policies. Zambia has raised $7 billion from international investors by issuing separate sovereign bonds in 2012, 2014, and 2015, significantly increasing the country’s public debt burden to 56% of GDP; the government plans to refinance $2.8 billion worth of Eurobonds in 2017 to cut debt servicing costs.
Poor management of water resources has also contributed to a power generation shortage, which has hampered industrial productivity and contributed to an increase in year-on-year inflation to more than 20% in 2016. Zambia’s currency, the kwacha, also depreciated sharply against the dollar through 2015 and 2016, leading the central bank to restrict lending. Rampant spending in recent years has increased the fiscal deficit—over 8% in 2015—and may encourage the government to seek external financing from the IMF to fund the shortfall.
Zambia has had one of the world’s fastest growing economies for the past ten years, years up to 2014, with real GDP growth averaging roughly 6.7% per annum, though growth slowed in 2015 and 2016 to just over under 3%, 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.
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, and by market-distorting agricultural and energy policies. Economic policy inconsistency and poor budget execution in recent years has hindered the economy and contributed to weakness in the kwacha, which was Africa’s worst performing currency during 2015. Zambia has raised $7 billion from international investors by issuing separate sovereign bonds in September 2012, April 2014, and July 2015, significantly increasing the country’s public debt as a share burden to 56% of GDP. GDP; the government plans to refinance $2.8 billion worth of Eurobonds in 2017 to cut debt servicing costs.
Poor management of water resources has also contributed to a power generation shortage, which has hampered industrial productivity and contributed to an increase in year-on-year inflation to 23% by March more than 20% in 2016. Zambia’s currency, the kwacha, also depreciated sharply against the dollar through 2015, before 2015 and 2016, leading the central bank restricted to restrict lending. Rampant spending in recent years has increased the fiscal deficit—over 8% in 2015—and may encourage the government to seek external financing from the IMF to fund the shortfall.
The same text in 2018 and 2019.
Published as “Economy - overview”
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.
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 in during the period 2015 and 2016 to just under 3%, 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.and by market-distorting agricultural and energy policies. policies, and growing government debt. Zambia has raised $7 billion from international investors by issuing separate sovereign bonds in 2012, 2014, and 2015, 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 56% more than 60% of GDP; the GDP. The government plans to refinance $2.8 has considered refinancing $3 billion worth of Eurobonds in 2017 and significant Chinese loans to cut debt servicing costs.
Poor management of water resources has also contributed to a power generation shortage, which has hampered industrial productivity and contributed to an increase in year-on-year inflation to more than 20% in 2016. Zambia’s currency, the kwacha, also depreciated sharply against the dollar through 2015 and 2016, leading the central bank to restrict lending. Rampant spending in recent years has increased the fiscal deficit—over 8% in 2015—and may encourage the government to seek external financing from the IMF to fund the shortfall.
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.
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.
The same text in 2021 and 2022.
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.
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.
- lower middle-income Sub-Saharan economy;
- major copper exporter;
- high public debt is held mostly by China;
- systemic corruption;
- one of youngest and fastest growing labor forces;
- regional hydroelectricity exporter;
- extreme rural poverty
Rewritten: too little of the 2022 text remains to mark the changes.
lower middle-income Sub-Saharan economy; major copper exporter; high public debt is held mostly by China; systemic corruption; one of youngest and fastest growing labor forces; regional hydroelectricity exporter; extreme rural poverty
The same text in 2024 and 2025.
- 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
lower middle-income Sub-Saharan lower-middle-income sub-Saharan economy; major copper exporter; high public debt is held mostly by regional hydroelectricity producer; trade ties and infrastructure investments from China; systemic corruption; IMF assistance to restructure debt burden; one of youngest and fastest growing fastest-growing labor forces; regional hydroelectricity exporter; systemic corruption; extreme rural poverty
No edition has those words. Try a shorter word.
Cite this page
Central Intelligence Agency. “Zambia: Economic overview.” The World Factbook, 1990–2025 editions. Archived by The Factbook, thefactbook.org/zambia/economic-overview.