Short facts about the economy in Zambia

Economy - overview:

Despite progress in privatization and budgetary reform, Zambia's economy has a long way to go. Privatization of government-owned copper mines 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. In late 2000, Zambia was determined to be eligible for debt relief under the Heavily Indebted Poor Countries (HIPC) initiative. Inflation and unemployment rates remain high, but the GDP growth rate should rise in 2001.

GDP:	purchasing power parity - $8.5 billion (2000 est.)

GDP - real growth rate:

4% (2000 est.)

GDP - per capita:

purchasing power parity - $880 (2000 est.)

GDP - composition by sector:

agriculture:  18% industry:  27% services:  55% (1999 est.)

Population below poverty line:

86% (1993 est.)

Household income or consumption by percentage share:

lowest 10%:  1.6% highest 10%:  39.2% (1995)

Inflation rate (consumer prices):

27.3% (2000 est.)

Labor force:

3.4 million

Labor force - by occupation:

agriculture 85%, industry 6%, services 9%

Unemployment rate:

50% (2000 est.)

Budget:

revenues:  $900 million expenditures:  $1 billion, including capital expenditures of NA million (1999 est.)

Industries:

copper mining and processing, construction, foodstuffs, beverages, chemicals, textiles, fertilizer

Industrial production growth rate:

6.1% (2000 est.)

Electricity - production:

7.642 billion kWh (1999)

Electricity - production by source:

fossil fuel:  0.55% hydro:  99.45% nuclear:  0% other:  0% (1999)

Electricity - consumption:

5.926 billion kWh (1999)

Electricity - exports:

1.6 billion kWh (1999)

Electricity - imports:

419 million kWh (1999)

Agriculture - products:

corn, sorghum, rice, peanuts, sunflower seed, vegetables, flowers, tobacco, cotton, sugarcane, cassava (tapioca); cattle, goats, pigs, poultry, milk, eggs, hides; coffee

Exports:

$928 million (f.o.b., 2000 est.)

Exports - commodities:

copper, cobalt, electricity, tobacco

Exports - partners:

Japan, Saudi Arabia, India, Thailand, South Africa, US, Malaysia (1997)

Imports:

$1.05 billion (f.o.b., 2000 est.)

Imports - commodities:

machinery, transportation equipment, fuels, petroleum products, electricity, fertilizer; foodstuffs, clothing

Imports - partners:

South Africa 48%, Saudi Arabia, UK, Zimbabwe (1997)

Debt - external:

$6.5 billion (2000)

Economic aid - recipient:

$1.99 billion (1995)

Currency:

Zambian kwacha (ZMK)

Currency code:

ZMK

Exchange rates:

Zambian kwacha per US dollar - 4,024.53 (January 2001), 3,110.84 (2000), 2,388.02 (1999), 1,862.07 (1998), 1,314.50 (1997), 1,207.90 (1996)

Fiscal year:

calendar year

Source: World Factbook