Markets Actual Q3 Q4 Q1 Q2 2021
Currency 17.95 18.05 18.26 18.47 18.68 19.1

Overview Actual Q3 Q4 Q1 Q2 2021
GDP Annual Growth Rate (%) 0.20 -2.3 -2.6 0.3 1.6 2.3
Unemployment Rate (%) 13.20 14.7 14.7 15.6 15.6 15.6
Inflation Rate (%) 15.90 11.5 10 9 8.7 8.5
Interest Rate (%) 9.25 8 8 8 8 8
Balance of Trade (ZMK Million) 3844.00 800 2100 1100 1400 1500
Current Account (USD Million) 122.30 90 85 100 -50 70
Current Account to GDP (%) -1.30 -1 -1 -1.2 -1.2 -1.2
Government Debt to GDP (%) 59.00 92 92 75 75 75
Government Budget (% of GDP) -7.30 -8.4 -8.4 -7.8 -7.8 -7.8
Corporate Tax Rate (%) 35.00 35 35 35 35 35
Personal Income Tax Rate (%) 37.50 37.5 37.5 37.5 37.5 37.5

GDP Actual Q3 Q4 Q1 Q2 2021
GDP Annual Growth Rate (%) 0.20 -2.3 -2.6 0.3 1.6 2.3
GDP (USD Billion) 27.50 29 29 31 31 31
GDP Constant Prices (ZMW THO) 297553.00 273014 289817 298446 302314 296482
GDP per capita (USD) 1672.30 1740 1740 1760 1760 1760
GDP per capita PPP (USD) 3747.97 3930 3930 3930 3930 4152

Labour Actual Q3 Q4 Q1 Q2 2021
Unemployment Rate (%) 13.20 14.7 14.7 15.6 15.6 15.6
Population (Million) 17.38 17.88 17.88 18.4 18.4 18.4

Prices Actual Q3 Q4 Q1 Q2 2021
Inflation Rate (%) 15.90 11.5 10 9 8.7 8.5
Food Inflation (%) 16.30 14 12 14 11.7 10
Inflation Rate Mom (%) 0.20 0.8 1.2 1.3 1.6 1.4
Consumer Price Index Cpi (points) 264.94 261 267 278 288 289
Cpi Housing Utilities (points) 287.99 273 275 309 313 299
CPI Transportation (points) 371.95 310 320 362 404 348

Money Actual Q3 Q4 Q1 Q2 2021
Interest Rate (%) 9.25 8 8 8 8 8
Deposit Interest Rate (%) 9.00 9 7.75 7.75 7.75 7.75
Money Supply M3 (ZMK Million) 81308164.83 65000000 65000000 65000000 65000000 75325090
Foreign Exchange Reserves (USD Million) 1345.94 1400 1430 1370 1400 1400

Trade Actual Q3 Q4 Q1 Q2 2021
Balance of Trade (ZMK Million) 3844.00 800 2100 1100 1400 1500
Current Account (USD Million) 122.30 90 85 100 -50 70
Current Account to GDP (%) -1.30 -1 -1 -1.2 -1.2 -1.2
Imports (ZMK Million) 6681.00 6800 7200 7500 8300 8000
Exports (ZMK Million) 10525.00 7600 9300 8600 9700 9500
Foreign Direct Investment (USD Million) 152.40 -150 -400 240 -200 170
External Debt (USD Million) 9144.60 9350 9350 9200 9200 9200
Capital Flows (USD Million) 200.00 -450 -130 80 -100 -230

Government Actual Q3 Q4 Q1 Q2 2021
Government Debt to GDP (%) 59.00 92 92 75 75 75
Government Budget (% of GDP) -7.30 -8.4 -8.4 -7.8 -7.8 -7.8
Military Expenditure (USD Million) 386.00 400 400 400 400 415
Government Debt (USD Million) 10047.80 10500 10500 10650 10650 10650

Taxes Actual Q3 Q4 Q1 Q2 2021
Corporate Tax Rate (%) 35.00 35 35 35 35 35
Personal Income Tax Rate (%) 37.50 37.5 37.5 37.5 37.5 37.5
Sales Tax Rate (%) 16.00 16 16 16 16 16
Social Security Rate (%) 10.00 10 10 10 10 10
Social Security Rate For Companies (%) 5.00 5 5 5 5 5
Social Security Rate For Employees (%) 5.00 5 5 5 5 5

Business Actual Q3 Q4 Q1 Q2 2021
Composite Pmi (points) 42.30 46 47.2 47.5 47 48.8


This page has economic forecasts for Zambia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Zambia economy.