Markets Actual Q1 Q2 Q3 Q4 2020
Currency 14.44 14.36 14.52 14.68 14.85 15.18
Overview Actual Q1 Q2 Q3 Q4 2020
GDP Annual Growth Rate (%) 2.20 2.3 2.6 2.8 3 2.7
Unemployment Rate (%) 7.15 7.05 7.05 7.05 7.05 7
Inflation Rate (%) 11.70 10 9.3 8.5 8.2 8.3
Interest Rate (%) 11.50 11.5 12.5 12.5 13.5 13.5
Balance of Trade (ZMK Million) 112.90 700 -200 -980 300 250
Current Account (USD Million) -92.40 -200 100 150 50 -140
Current Account to GDP (%) -1.30 -1.4 -1.4 -1.4 -1.4 -1
Government Debt to GDP (%) 59.00 58 58 58 58 56
Government Budget (% of GDP) -7.60 -5.5 -5.5 -5.5 -5.5 -5.3
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 2020
GDP Annual Growth Rate (%) 2.20 2.3 2.6 2.8 3 2.7
GDP (USD Billion) 26.72 32 32 32 32 34
GDP Constant Prices (ZMW THO) 279441.00 285868 286706 287265 287824 295595
GDP per capita (USD) 1672.30 1740 1740 1740 1740 1760
GDP per capita PPP (USD) 3747.97 3389 3724 3724 3759 3759
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 7.15 7.05 7.05 7.05 7.05 7
Population (million) 17.35 18.42 18.42 18.42 18.35 18.85
Wages High Skilled (ZMK/Month) 8810.00 8900 8900 8900 9100 9300
Wages Low Skilled (ZMK/Month) 1760.00 1850 1850 1850 1900 1970
Living Wage Family (ZMK/Month) 4090.00 4090 4090 4090 5100 5200
Prices Actual Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 11.70 10 9.3 8.5 8.2 8.3
Food Inflation (%) 15.20 9.7 9.3 8.7 9.3 9
Inflation Rate Mom (%) 1.60 0.9 1 0.8 1 0.7
Cpi Housing Utilities (points) 250.41 265 266 265 271 293
CPI Transportation (points) 291.29 279 300 301 315 341
Consumer Price Index Cpi (points) 242.38 246 250 254 262 284
Money Actual Q1 Q2 Q3 Q4 2020
Interest Rate (%) 11.50 11.5 12.5 12.5 13.5 13.5
Deposit Interest Rate (%) 8.85 19.23 19.23 20.23 20.23 21.23
Money Supply M3 (ZMK Million) 68000818.12 65938480 65000000 65000000 65000000 75325090
Foreign Exchange Reserves (USD Million) 1455.06 1470 1445 1460 1480 1490
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (ZMK Million) 112.90 700 -200 -980 300 250
Current Account (USD Million) -92.40 -200 100 150 50 -140
Current Account to GDP (%) -1.30 -1.4 -1.4 -1.4 -1.4 -1
Imports (ZMK Million) 8452.00 7200 8800 8660 8300 8450
Exports (ZMK Million) 8565.30 7900 8600 7680 8600 8700
Foreign Direct Investment (USD Million) 152.40 200 460 50 370 400
External Debt (USD Million) 9144.60 8700 8700 8700 8700 8650
Capital Flows (USD Million) -238.70 -150 -400 -400 -170 -170
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 59.00 58 58 58 58 56
Government Budget (% of GDP) -7.60 -5.5 -5.5 -5.5 -5.5 -5.3
Military Expenditure (USD Million) 386.00 400 400 400 400 415
Government Debt (USD Million) 10047.80 10200 10200 10200 10200 9800
Taxes Actual Q1 Q2 Q3 Q4 2020
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 2020
Electricity Production (Gigawatt-hour) 3701.86 3636 3485 3485 3485 3652
Composite Pmi (points) 46.90 50 49.6 49.2 49.6 50


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.