Markets Actual Q2 Q3 Q4 Q1 2021
Currency 17.81 18.01 18.22 18.43 18.64 19.06

Overview Actual Q2 Q3 Q4 Q1 2021
GDP Annual Growth Rate (%) 1.00 -1.5 -2.3 -2.6 0.3 2.3
Unemployment Rate (%) 13.20 14.7 14.7 14.7 15.6 15.6
Inflation Rate (%) 16.60 15 12 10 9 8.5
Interest Rate (%) 9.25 11.5 11.5 11.5 11.5 11
Balance of Trade (ZMK Million) 181.50 -1480 -1700 -800 200 100
Current Account (USD Million) -92.40 -300 -150 85 100 -200
Current Account to GDP (%) -1.30 -1.4 -1.4 -1.4 -1 -1
Government Debt to GDP (%) 59.00 92 92 92 75 75
Government Budget (% of GDP) -7.30 -8.4 -8.4 -8.4 -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 Q2 Q3 Q4 Q1 2021
GDP Annual Growth Rate (%) 1.00 -1.5 -2.3 -2.6 0.3 2.3
GDP (USD Billion) 27.50 29 29 29 31 31
GDP Constant Prices (ZMW THO) 279441.00 275249 273014 272176 280279 278436
GDP per capita (USD) 1672.30 1740 1740 1740 1760 1760
GDP per capita PPP (USD) 3747.97 3930 3930 3930 3930 4152

Labour Actual Q2 Q3 Q4 Q1 2021
Unemployment Rate (%) 13.20 14.7 14.7 14.7 15.6 15.6
Population (Million) 17.38 17.88 17.88 17.88 18.4 18.4
Living Wage Family (ZMK/Month) 4090.00 4090 4090 5100 5100 5200
Wages High Skilled (ZMK/Month) 8810.00 8900 8900 9100 9100 9300

Prices Actual Q2 Q3 Q4 Q1 2021
Inflation Rate (%) 16.60 15 12 10 9 8.5
Food Inflation (%) 17.50 15.8 14 12 14 10
Inflation Rate Mom (%) 1.60 2 1.8 1.8 1.3 1.4
Consumer Price Index Cpi (points) 264.38 263 262 267 278 289
Cpi Housing Utilities (points) 286.57 280 274 275 309 299
CPI Transportation (points) 361.98 316 311 320 362 348

Money Actual Q2 Q3 Q4 Q1 2021
Interest Rate (%) 9.25 11.5 11.5 11.5 11.5 11
Deposit Interest Rate (%) 9.30 9.01 9.01 9.01 9.01 8.51
Money Supply M3 (ZMK Million) 79648895.82 65000000 65000000 65000000 65000000 75325090
Foreign Exchange Reserves (USD Million) 1351.59 1445 1460 1480 1480 1490

Trade Actual Q2 Q3 Q4 Q1 2021
Balance of Trade (ZMK Million) 181.50 -1480 -1700 -800 200 100
Current Account (USD Million) -92.40 -300 -150 85 100 -200
Current Account to GDP (%) -1.30 -1.4 -1.4 -1.4 -1 -1
Imports (ZMK Million) 6698.00 8780 7400 8300 7000 8500
Exports (ZMK Million) 8930.00 7300 5700 7500 7200 8600
Foreign Direct Investment (USD Million) 152.40 145 -150 -400 240 400
External Debt (USD Million) 9144.60 8700 8700 8700 8700 8650
Capital Flows (USD Million) -238.70 -400 -450 -130 80 -230

Government Actual Q2 Q3 Q4 Q1 2021
Government Debt to GDP (%) 59.00 92 92 92 75 75
Government Budget (% of GDP) -7.30 -8.4 -8.4 -8.4 -7.8 -7.8
Military Expenditure (USD Million) 386.00 400 400 400 400 415
Government Debt (USD Million) 10047.80 10200 10200 10200 10200 9800

Taxes Actual Q2 Q3 Q4 Q1 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 Q2 Q3 Q4 Q1 2021
Electricity Production (Gigawatt-hour) 3701.86 3485 3485 3485 3485 3652
Composite Pmi (points) 34.80 38 46 47.2 47.5 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.