Markets Actual Q1 Q2 Q3 Q4 2022
Currency 21.87 22.15 22.4 22.66 22.92 23.43

Overview Actual Q1 Q2 Q3 Q4 2022
GDP Annual Growth Rate (%) -2.60 1 2.4 0.6 3 4.2
Unemployment Rate (%) 13.20 15.3 15.3 15.3 15.3 14
Inflation Rate (%) 22.20 16.4 15.7 14.6 13.5 10
Interest Rate (%) 8.00 8 8 8 8 8
Balance of Trade (ZMK Million) 9319.70 4700 1700 -7900 -300 3200
Current Account (USD Million) 597.10 100 -50 150 70 -120
Current Account to GDP (%) 1.00 -1.8 -1.8 -1.8 -1.8 0.7
Government Debt to GDP (%) 91.90 120 120 120 120 116
Government Budget (% of GDP) -7.30 -9.3 -9.3 -9.3 -9.3 -8.5
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 Q1 Q2 Q3 Q4 2022
GDP Annual Growth Rate (%) -2.60 1 2.4 0.6 3 4.2
GDP (USD Billion) 23.06 24 24 24 24 27
GDP Constant Prices (ZMW THO) 297553.00 285651 300529 304694 305055 294220
GDP per capita (USD) 1658.10 1675 1675 1675 1675 1640
GDP per capita PPP (USD) 3479.50 3410 3410 3410 3410 3500

Labour Actual Q1 Q2 Q3 Q4 2022
Unemployment Rate (%) 13.20 15.3 15.3 15.3 15.3 14
Population (Million) 17.88 18.4 18.4 18.4 18.4 18.93

Prices Actual Q1 Q2 Q3 Q4 2022
Inflation Rate (%) 22.20 16.4 15.7 14.6 13.5 10
Food Inflation (%) 27.30 28.5 31.5 27 18 12
Inflation Rate Mom (%) 2.50 1.3 0.3 1.3 1.6 1.7
Consumer Price Index CPI (points) 307.32 296 307 310 328 361
Cpi Housing Utilities (points) 316.16 330 333 346 346 380
CPI Transportation (points) 417.18 387 430 446 459 505

Money Actual Q1 Q2 Q3 Q4 2022
Interest Rate (%) 8.00 8 8 8 8 8
Deposit Interest Rate (%) 8.08 8.15 8.15 8.15 8.15 8.15
Money Supply M3 (ZMK Million) 103828741.05 65000000 65000000 65000000 65000000 75325090
Foreign Exchange Reserves (USD Million) 1239.90 1370 1400 1425 1450 1470

Trade Actual Q1 Q2 Q3 Q4 2022
Balance of Trade (ZMK Million) 9319.70 4700 1700 -7900 -300 3200
Current Account (USD Million) 597.10 100 -50 150 70 -120
Current Account to GDP (%) 1.00 -1.8 -1.8 -1.8 -1.8 0.7
Imports (ZMK Million) 8207.00 7500 8300 8500 8300 8500
Exports (ZMK Million) 17527.00 9200 400 13100 11500 10800
Foreign Direct Investment (USD Million) 152.40 240 -200 270 170 300
External Debt (USD Million) 15049.10 17100 17100 17100 17100 16800
Capital Flows (USD Million) 870.30 80 -100 280 -230 120

Government Actual Q1 Q2 Q3 Q4 2022
Government Debt to GDP (%) 91.90 120 120 120 120 116
Government Budget (% of GDP) -7.30 -9.3 -9.3 -9.3 -9.3 -8.5
Military Expenditure (USD Million) 386.00 400 400 400 415 415
Government Debt (USD Million) 11202.80 14300 14300 14300 14300 15000

Taxes Actual Q1 Q2 Q3 Q4 2022
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 Q1 Q2 Q3 Q4 2022
Composite PMI (points) 47.10 47.5 48 48.5 48 49.6


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.