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.


Overview Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 7.79 7.4 7.45 7.5 7.55 7.7 percent
Inflation Rate 8.30 7.5 7 6.5 6.3 5.8 percent
Interest Rate 9.75 9.75 9.75 9.75 9.75 12 percent
Balance of Trade -1738.00 -1970 -1851 -1911 -1888 -1894 ZMK Million
Government Debt to GDP 55.60 40 42 42 42 45 percent
MARKETS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Currency 11.83
 12.14 12.26 12.39 12.51 13.01
GDP Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Annual Growth Rate 4.10
percent		 4 4.2 3.8 3.4 5
GDP 25.81
USD Billion		 28.2 30.8 30.8 30.8 32
GDP Constant Prices 245686.00
ZMW THO		 257970 256005 255022 233500 283329
GDP per capita 1646.14
USD		 1660 1512 1512 1662 1684
GDP per capita PPP 3689.25
USD		 3720 3389 3389 3724 3774
LABOUR Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 7.79
percent		 7.4 7.45 7.5 7.55 7.7
Population 17.20
million		 17.3 18 18.17 18.35 18.5
Wages High Skilled 8810.00
ZMK/Month		 8900 8900 8820 8816 9100
Wages Low Skilled 1760.00
ZMK/Month		 1850 1850 1520 1539 1900
Living Wage Family 4090.00
ZMK/Month		 4090 5100 4090 4090 5100
Living Wage Individual 2230.00
ZMK/Month		 2230 2230 2230 2230 2230
PRICES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Inflation Rate 8.30
percent		 7.5 7 6.5 6.3 5.8
Food Inflation 8.30
percent		 7.9 7.8 7.3 6.8 5
Inflation Rate Mom 0.70
percent		 0.71 0.72 0.72 0.73 0.73
Cpi Housing Utilities 234.52
Index Points		 237 240 244 247 278
CPI Transportation 241.75
Index Points		 229 238 241 243 256
Consumer Price Index Cpi 213.42
Index Points		 216 222 224 225 243
MONEY Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Interest Rate 9.75
percent		 9.75 9.75 9.75 9.75 12
Deposit Interest Rate 6.60
percent		 6.6 6.6 6.6 6.6 8.85
Money Supply M3 55653703.28
ZMK Million		 57325801 58413558 59544438 60651800 70368632
TRADE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Balance of Trade -1738.00
ZMK Million		 -1970 -1851 -1911 -1888 -1894
Exports 7493.00
ZMK Million		 7590 7621 7624 7624 7624
Imports 9252.00
ZMK Million		 9635 9471 9534 9512 9518
Current Account -453.80
USD Million		 -299 -318 -326 -322 -326
Current Account to GDP -2.30
percent		 -3 -2 -2 -2 -1
Terrorism Index 0.00
 0 0 0 0 0
Foreign Direct Investment 47.30
USD Million		 269 230 226 220 227
External Debt 8419.70
USD Million		 7043 6998 6953 6908 11287
Capital Flows -538.50
USD Million		 -282 -181 -316 -308 -285
GOVERNMENT Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Government Debt to GDP 55.60
percent		 40 42 42 42 45
Government Budget -6.10
percent of GDP		 -6.1 -6.1 -6.1 -6.1 -6.1
Military Expenditure 291.00
USD Million		 246 241 236 231 183
Government Debt 8790.30
USD Million		 9729 9539 9348 9158 7928
BUSINESS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Manufacturing Production 0.40
percent		 6.28 4.52 4.19 3.82 4.52
Internet Speed 2303.04
KBps		 2240 2267 2308 2266 2280
IP Addresses 248931.00
IP		 257487 257535 258013 258118 257880
Mining Production -1.40
percent		 3.57 1.43 1.54 1.59 1.7
Industrial Production 2.60
percent		 2.66 1.75 2.03 2.71 2.21
Ease of Doing Business 87.00
 89 90 90 91 86
Electricity Production 3701.86
Gigawatt-hour		 3676 3642 3636 3649 3650
Corruption Index 37.00
Points		 37 37 37 37 37
Corruption Rank 96.00
 96 96 96 96 96
Competitiveness Index 46.05
Points		 47.05 47.05 47.05 47.05 52.05
Competitiveness Rank 118.00
 118 118 118 118 118
Composite Pmi 43.70
 41.3 42.18 41.5 42.17 41.67
TAXES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Corporate Tax Rate 35.00
percent		 35 35 35 35 35
Personal Income Tax Rate 37.50
percent		 37.5 37.5 37.5 37.5 37.5
Sales Tax Rate 16.00
percent		 16 16 16 16 16
Social Security Rate 10.00
percent		 10 10 10 10 10
Social Security Rate For Companies 5.00
percent		 5 5 5 5 5
Social Security Rate For Employees 5.00
percent		 5 5 5 5 5
CLIMATE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Precipitation 164.83
mm		 117 192 78.63 83.79 83.44
Temperature 25.21
celsius		 23.71 22.37 21.98 21.98 21.82



Zambia - Economic Forecasts - 2018-2020 Outlook