Zambia gdp 2024
Zambia gdp 2024. 2% in 2024, driven by mining, services, and manufacturing. Jul 4, 2024 · The growth of the real gross domestic product (GDP) in Zambia was forecast to increase between 2024 and 2029 by in total 0. 3% decline from 2019. Macroeconomic Outlook Zambia economic growth for 2022 was $29. 77% increase from 2019. Zambia gnp for 2021 was $22. These estimates are similar to the ones the African Development Bank (AfDB) includes in its recently issued Africa’s Macroeconomic Performance and Feb 21, 2024 · Zambia Economic Growth Forum 2024. Jan 6, 2024 · Lusaka - Zambia: Finance Minister Situmbeko Musokotwane has announced the government's optimism regarding an economic upturn in 2024, driven by new On the whole, PPP per capita figures are more narrowly spread than nominal GDP per capita figures. 00 USD in 2026, according to our econometric models. Zambia - Trade (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on September of 2024. May 25, 2024 at 4:22 AM EDT. World Economics has developed a database presenting GDP in Purchasing Power Parity terms with added estimates for the size of the informal economy and adjustments for out-of-date GDP base year data. 0% in 2023, and by 4. Mining Sector Challenges and Prospects Jun 4, 2024 · Item 1 of 2 A woman displays a selection of Kwacha notes, the national currency and money used in Zambia in Lusaka, Zambia February 27, 2024. 9% Latest Development: Data released by the Zambia Statistics Agency on June 28 showed that real GDP grew by just 2. 0% in 2023 and 4. Jan 4, 2024 · In terms of prospects for 2024, the 4. Label. Apr 25, 2022 · Zambia’s Economic Growth in 2022 and 2023. 5% in the previous quarter. Zambia gdp per capita for 2019 was $1,268, a 14. 3% of GDP. The absolute value of GDP in Zambia dropped €1,663 $1,001 million with respect to 2022. Sep 3, 2024 · Zambia’s poor, youthful population consists primarily of Bantu-speaking people representing nearly 70 different ethnicities. This$40 million (2016-2024) initiative pivots on mainstreaming private sector led growth model whereby Micro, Small and Medium Enterprises (MSMEs) and smallholder farmers of Zambia are rendered competitive through improved access to markets and finance. A clothes vendor beside a mobile money transfer kiosk at a market in Lusaka, Zambia. 3 % YoY in Sep 2017. 61B, a 2. [5] As of 2024 South Africa pioneers leading the way forward as the economic engine of Africa as is illustrated in the data below: Map of Africa by 2020 nominal GDP (billions USD): Gross capital formation (% of GDP) in Zambia was reported at 26. Aggregates are based on constant 2010 U. Feb 1, 2023 · The African Development Bank (AfDB) has recently released its first Africa’s Macroeconomic Performance and Outlook – January 2023, in which it estimates that the GDP of Zambia will have grown by +3. GDP (current US$) in Zambia was reported at 28162630954 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Zambia External Debt: % of Nominal GDP data is updated yearly, available from Dec 2011 to Dec 2023. 4% in 2025 in response to ongoing fiscal reforms. 3% in 2024 to 7. Its GDP deflator (implicit price deflator) increased 9. Zambia is a developing country, and it achieved middle-income status in 2011. rate Real GDP pc Poverty rate (%) Real GDP per capita Jul 8, 2024 · IMF PERFORMANCE REVIEW OF ZAMBIAN ECONOMY. 07 % in 2022, according to the World Bank collection of development indicators, compiled from officially recognized sources. Inflation is expected to decelerate from 9. 88 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. The Zambia - Agriculture, value added (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on September of 2024 Jul 13, 2023 · economy is beginning to strengthen, and its post-COVID GDP-rebound is expected to continue. Save. It is worth Current account balance (% of GDP) in Zambia was reported at 3. 98% increase from 2021. 93%, a 2. 7 %âãÏÓ 5449 0 obj > endobj 5468 0 obj >/Filter/FlateDecode/ID[9E76661CCE99B44A83483466DD36F7FE>]/Index[5449 52]/Info 5448 0 R/Length 100/Prev 2038524/Root The GDP figure in 2021 was €18,008 $22,148 million, Zambia is number 113 in the ranking of GDP of the 196 countries that we publish. 5 Percent Annual inflation for August 2024 increased to 15. %PDF-1. 7478 % in 2022, according to the World Bank collection of development indicators, compiled from officially recognized sources. Historical and trend. 1. 22% increase from 2018. 7 percent, and the 2024 budget has been revised to accommodate the drought’s impact. The absolute value of GDP in Zambia rose €2,139 $4,037 million with respect to 2020. 38B, a 16. The Gross Domestic Product (GDP) in Zambia expanded 8 percent in the fourth quarter of 2023 over the same quarter of the previous year. According to the IMF, the economy of Zambia grew by -2. … economic activity in major trading partner countries to improve Broadly, the export-weighted GDP (GDP-9) Index¹ indicates an improvement in economic activity in Zambia's major trading partner countries over the 2024-25 period (Table 1 and Figure 2). In the long-term, the Zambia Full Year GDP Growth is projected to trend around 6. 6 % in the previous year. FIGURE 2 Zambia / Actual and projected poverty rates and real GDP per capita 6400 6600 6800 7000 7200 7400 7600 7800 8000 8200 8400 0 10 20 30 40 50 60 70 80 90 100 2010 2012 2014 2016 2018 2020 2022 2024 2026 International poverty rate Lower middle-income pov. Fiscal deficits are projected to narrow to 5. 5 percent from … Economic Statistics Average Household income by Province, Zambia, 2022 Living Conditions Monitoring Survey May 9, 2024 · The International Monetary Fund more than halved its 2024 economic growth forecast for Zambia as the worst drought in more than four decades hits farming and electricity production. Zambia - GDP 2024 Data 2025 Forecast 1960-2023 Historical. 2 % of the country's Nominal GDP in 2023, compared with the ratio of 79. [18] The GDP figure in 2023 was €26,022 $28,163 million, Zambia is number 110 in the ranking of GDP of the 196 countries that we publish. 41% decline from 2021. 2024 HEALTH BUDGET BRIEF Zambia KEY MESSAGES AND RECOMMENDATIONS This health budget brief examines the Government of the Republic of Zambia’s (GRZ) support for the health sector in 2024, analyzing budget allocations, spending trends, and any adjustments to address disease outbreaks like polio, measles, and cholera. 39% increase from 2021. rate Real GDP pc Poverty rate (%) Real GDP per capita (constant Apr 10, 2024 · By Mwansa Chalwe Snr This review of the performance of the Zambian economy for the first quarter of 2024, is carried out from the four perspectives of the main players in the economy – the Jun 30, 2023 · Zambia: GDP Growth, Public and (In percent) Source: IMF Staff estimates; 0 5 10 15 20 25 30 35-4-2 0 2 4 6 8 10 12 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 GDP per capita (current US$) in Zambia was reported at 1369 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. In the long-term, the Zambia GDP per capita is projected to trend around 1461. 8851 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. 7 billion U. 3 USD in Dec 2015. 00%, a 71. 01% increase from 2020. From April 24 to May 7, 2024, the IMF team led by Ms. Zambia gdp for 2020 was $18. Using the World Economics GDP database, Zambia's GDP would be $129 billion - 70% larger than official estimates, Zambia's debt ratio would be smaller at 57. 55% decline from 2019. 2% in 2024, supported by the ongoing recovery in mining, services, and manufacturing sectors, higher global copper prices, and increased market confidence due to fiscal consolidation measures. Zambia debt to gdp ratio for 2020 was 103. 31B, a 11. 8% in 2020, and by 4. Zambia economic growth for 2019 was $23. 00 percent in 2025 and 5. -4-3-2-1 0 1 2 3 4 5 6 7 2013 2014 2015 2016 2017 2018 2019 The official estimate for Zambia's GDP published by the World Bank was $76 billion at the end of 2023 in puchasing power partity terms. 16B, a 31. 2% y-o-y in Q1 2024, a sharp slowdown from 8. Consequently, growth projections for 2024 have been revised down to 2. It compares Full Year GDP Growth in Zambia is expected to reach 2. 18% increase from 2020. Key information about Zambia External Debt: % of GDP Zambia External Debt accounted for 84. Zambia gnp for 2019 was $25. Related information about Zambia Nominal GDP. It is calculated without making deductions for depreciation of fabricated assets or for Zambian exports in 2006. The Forum brings together leaders from the government and the private sector along with academics and development partners to discuss pathways to achieving sustainable and inclusive economic growth in Zambia. 59% increase from 2020. When one makes an objective analysis of the prospects for the Zambian economy, starting from 2024, several factors point to a favourable picture. 70 percent in the fourth quarter of 1965 and a record low of -8. 2% of GDP in 2024 and 3. Through the first decade of the 21st century, the economy of Zambia was one of the fastest-growing economies in Africa, and its capital, Lusaka, the fastest-growing city in the Southern African Development Community (SADC). Zambia gdp for 2022 was $29. 21 percent). 3 percent, from 4. 98 % in 2022, according to the World Bank collection of development indicators, compiled from officially recognized sources. GDP (current US$) - Zambia. 41% decline from 2018. Zambia gdp per capita for 2022 was $1,457, a 28. Jun 26, 2024 · Zambia faces a severe drought that has significantly impacted agriculture and electricity generation and affected a substantial share of the population, leading the President to declare it a national disaster emergency and plan a revision of the 2024 The gross domestic product (GDP) in current prices in Zambia was forecast to continuously increase between 2024 and 2029 by in total 14. Jan 20, 2024 · ZAMBIA’S ECONOMIC OUTLOOK FOR 2024 . 1% in 2022, 3. 70%, a 41. Its Gross Savings Rate was measured at 34. 31% increase from 2018. License : CC BY-4. 00 USD by the end of 2024, according to Trading Economics global macro models and analysts expectations. Zambia - Gross domestic savings (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on September of 2024. 10B, a 22. 5 % in Dec 2015. 6% in 2023, and 4. Retrieved September 15, 2024, from https://www. GDP (constant 2015 US$) - Zambia from The World Bank: Data May 25, 2024 · Zambia Economic Growth to Rebound in 2025, Finance Ministry Says. 6%, a sharper drop than was seen at the onset of the Covid-19 pandemic in Q2 2020 (-5. The GDP per capita of Zambia in 2023 was €1,336 $1,446, €86 $52 less than in 2022, when it was €1,422 $1,498. Feb 23, 2024 · In a comprehensive Ministerial Statement delivered to Parliament, Dr. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. World Using the World Economics GDP Database it is possible to see more realistic debt levels for each country. statista Subdued and volatile economic growth •GDP ZMB/GDP SSA (ex-Nigeria/South Africa). 0% in 2025, driven by falling food and fuel prices. July 31, 2023 Sep 2, 2024 · Latest News Year-on-Year Inflation for August 2024 at 15. 9% in 2023, and by 4. 28B, a 4. GDP per capita (current US$) - Zambia from The World Bank: Data Zambia gnp for 2022 was $24. Zambia gdp per capita for 2021 was $1,135, a 18. 11B, a 22. 0. 41%, a 32. 04% decline from 2018. World Bank national accounts data, and OECD National Accounts data files. 1% in 2024, while the fiscal deficit will persist at 7. Zambia: Share of economic sectors in the gross domestic product (GDP) from 2012 to 2022 [Graph]. 60 percent in the fourth quarter of 1994. 2 percentage points. Zambia economic growth for 2021 was $22. Zambia - GDP per capita - actual values, historical data, forecasts and projections were sourced from the World Bank on September of 2024. In Statista. . 2% and Inflation to Fall The African Development Bank (AfDB) recently presented the 2023 edition of its flagship African Economic Outlook report. (May 30, 2024). Zambia’s high fertility rate continues to drive rapid population growth, averaging almost 3% annually between 2000 and 2010, and reaching over 3. In the latest reports, Zambia GDP expanded 3. 00 USD in 2025 and 1546. Zambia's is officially reported as having a debt-to-GDP ratio of 99% by the IMF. Past Event Lusaka From 21 Feb 2024 at 08:30 to 22 Feb 2024 at 17:45. Jun 26, 2024 · Zambia is grappling with a severe drought that has significantly impacted agriculture and electricity generation, affecting a substantial share of the population. 3% in 2022. 1% in 2024. 29% decline from 2020. dollars. Zambia - Gross capital formation (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on September of 2024. 3% in 2021, impacted by the Covid-19 pandemic. 1% in 2022, and projects it will grow by 4. 8% GDP growth target highlighted in the 2024 National Budget, albeit moderate, signals an optimistic economic outlook for Zambia in 2024. Zambia gdp per capita for 2020 was $957, a 24. Jul 31, 2023 · The AfDB projects that Zambia's GDP will grow by 4. A restructuring of Zambia's debt with private bondholders will be agreed by all players (including official creditors) in the first half of 2024. 80 percent in 2026, according to our econometric models. Jul 13, 2023 · All news about Zambia At a Glance 2024 Projected Real GDP (% Change) : 4. 88B, a 11. GDP Annual Growth Rate in Zambia averaged 3. rate Upper middle-income pov. FIGURE 2 Zambia / Actual and projected poverty rates and real GDP per capita 5000 5500 6000 6500 7000 7500 8000 8500 50 55 60 65 70 75 80 85 90 95 100 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 International poverty rate Lower middle-income pov. Zambia debt to gdp ratio for 2019 was 61. 63 percent from 1961 until 2023, reaching an all time high of 16. dollars (+49. Zambia - Current account balance (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on September of 2024. Mercedes Vera carried out a review of the performance of Zambia’s Economic growth has been Agriculture, forestry, and fishing, value added (% of GDP) - Zambia World Bank national accounts data, and OECD National Accounts data files. GDP per capita, PPP (current international $) in Zambia was reported at 4126 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. 30 percent by the end of 2024, according to Trading Economics global macro models and analysts expectations. Situmbeko Musokotwane, the Minister of Finance & National Planning, provided a detailed overview of Zambia’s economic performance in 2023 and outlined strategies for addressing current challenges and fostering growth in 2024. Annual percentage growth rate of GDP at market prices based on constant local currency. Latest news and information from the World Bank and its development work in Zambia. REUTERS/Namukolo Siyumbwa/file photo Apr 25, 2022 · Zambia Economic Outlook 2023-2024: GDP to Soar by 4. Zambia gnp for 2020 was $21. Despite some projected moderation in 2023, growth is expected to accelerate in 2024 and settle at around 5 percent over the medium term. Nonetheless, with poverty and inequality amongst the highest in the world and Zambia’s high exposure to climate shocks, Gross domestic savings (% of GDP) in Zambia was reported at 50. Inflation is expected to decline to 7. 3 % in Dec 2023. 3% in 2024. 10B , a 22. In seasonally adjusted q-o-q terms, the economy contracted by 5. Zambia debt to gdp ratio for 2022 was 0. The GDP per capita of Zambia in 2021 was €925 $1,137, €87 $180 higher than in 2020, it was €838 $957. Zambia economic growth for 2020 was $18. 11B , a 22. Apr 9, 2024 · The Zambia Agribusiness and Trade Project (ZATP), is a flagship project that aims to deliver on the Jobs & Economic Transformation agenda. Trade (% of GDP) in Zambia was reported at 79. 52% decline from 2019. Inflation, GDP deflator (annual %) in Zambia was reported at 8. Jun 12, 2024 · The AfDB forecasts Zambia’s GDP to grow by 4. Access Zambia’s economy facts, statistics, project information, development research from experts and latest news. The IMF projects that Zambia’s real GDP growth will be 3. Inflation will remain high and the currency weak and volatile in the early part of the forecast period. GDP per Capita in Zambia is expected to reach 1378. Zambia GDP Per Capita reached 1,375. 0 Jul 4, 2024 · World Bank. Line Bar Map. S. 71% increase from 2021. 7 Explore the annual percentage growth rate of Zambia's GDP with data from the World Bank. 4%). Zambia debt to gdp ratio for 2021 was 71. 8% in 2027. Apr 19, 2024 · Graph and download economic data for Real GDP Per Capita for Zambia (ZMBNGDPRPCPCPPPT) from 2000 to 2025 about Zambia, REO, per capita, real, GDP, and rate Feb 1, 2023 · The World Bank (WB) has recently released its Global Economic Prospects Report – January 2023, in which it forecasts that the GDP of Zambia will expand by 3. Zambia gdp for 2021 was $22. wsw xfrp ydud pusp diylqus tvro bnlga acrohpbj vcz jtkcsl