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Zambia:
Economy

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Economy - overview
Definition
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.
GDP (purchasing power parity)
Definition - World rank and map
$15.92 billion (2007 est.)
GDP (official exchange rate)
Definition
$11.16 billion (2007 est.)
GDP - real growth rate
Definition - World rank and map
5.3% (2007 est.)
GDP - per capita
Definition - World rank and map
$1,300 (2007 est.)
GDP - composition by sector
Definition
agriculture: 17.3%
industry: 26.2%
services: 56.5% (2007 est.)
Labor force
Definition
4.989 million (2007 est.)
Labor force - by occupation
Definition
agriculture: 85%
industry: 6%
services: 9% (2004)
Unemployment rate
Definition - World rank and map
50% (2000 est.)
Population below poverty line
Definition
86% (1993)
Household income or consumption by percentage share
Definition
lowest 10%: 1.2%
highest 10%: 38.8% (2004)
Distribution of family income - Gini index
Definition - World rank and map
50.8 (2004)
Inflation rate (consumer prices)
Definition - World rank and map
10.7% (2007 est.)
Investment (gross fixed)
Definition - World rank and map
26% of GDP (2007 est.)
Budget
Definition
revenues: $2.542 billion
expenditures: $2.678 billion (2007 est.)
Public debt
Definition - World rank and map
28% of GDP (2007 est.)
Agriculture - products
Definition
corn, sorghum, rice, peanuts, sunflower seed, vegetables, flowers, tobacco, cotton, sugarcane, cassava (tapioca), coffee; cattle, goats, pigs, poultry, milk, eggs, hides
Industries
Definition
copper mining and processing, construction, foodstuffs, beverages, chemicals, textiles, fertilizer, horticulture
Industrial production growth rate
Definition - World rank and map
7.3% (2007 est.)
Electricity - production
Definition - World rank and map
8.85 billion kWh (2005)
Electricity - consumption
Definition - World rank and map
8.655 billion kWh (2005)
Electricity - consumption per capita
Definition - World rank and map
741.7 kWh (2005)
Electricity - exports
Definition
243 million kWh (2005)
Electricity - imports
Definition
465 million kWh (2005)
Oil - production
Definition - World rank and map
150 bbl/day (2005 est.)
Oil - consumption
Definition - World rank and map
14,000 bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
1.2 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
169 bbl/day (2004)
Oil - imports
Definition - World rank and map
13,370 bbl/day (2004)
Oil - proved reserves
Definition - World rank and map
NA
Natural gas - production
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption per capita
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - exports
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - imports
Definition - World rank and map
0 cu m (2005)
Natural gas - proved reserves
Definition - World rank and map
0 cu m (1 January 2006 est.)
Current account balance
Definition - World rank and map
-$743 million (2007 est.)
Exports
Definition - World rank and map
$4.348 billion f.o.b. (2007 est.)
Exports - commodities
Definition
copper/cobalt 64%, cobalt, electricity; tobacco, flowers, cotton
Exports - partners
Definition
Switzerland 34.1%, South Africa 20.4%, China 8.4%, Tanzania 6%, Italy 5.6%, Thailand 4.7% (2006)
Imports
Definition - World rank and map
$3.622 billion f.o.b. (2007 est.)
Imports - commodities
Definition
machinery, transportation equipment, petroleum products, electricity, fertilizer; foodstuffs, clothing
Imports - partners
Definition
South Africa 48.2%, UAE 10.3%, Zimbabwe 5.8%, China 5.6% (2006)
Reserves of foreign exchange and gold
Definition - World rank and map
$1.09 billion (31 December 2007 est.)
Debt - external
Definition - World rank and map
$2.598 billion (31 December 2007 est.)
Stock of direct foreign investment - at home
Definition
$NA
Stock of direct foreign investment - abroad
Definition
$NA
Market value of publicly traded shares
Definition
$4.5 billion (2007)
Economic aid - recipient
Definition
$504 million (2007)
Currency (code)
Definition
Zambian kwacha (ZMK)
Exchange rates
Definition
Zambian kwacha per US dollar - 3,990.2 (2007), 3,601.5 (2006), 4,463.5 (2005), 4,778.9 (2004), 4,733.3 (2003)
Fiscal year
Definition
calendar year


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