Markets Actual Q4 Q1 Q2 Q3 2021
Currency 20.58 20.77 21 21.24 21.49 21.97

Overview Actual Q4 Q1 Q2 Q3 2021
GDP Annual Growth Rate (%) -2.10 -6.3 0.4 1.6 3 4.2
Unemployment Rate (%) 13.20 14.7 15.3 15.3 15.3 15.3
Inflation Rate (%) 16.00 14.7 12.5 11.4 11.2 11
Interest Rate (%) 8.00 8 8 8 8 8
Balance of Trade (ZMK Million) 5318.10 50 4700 1700 -7900 -300
Current Account (USD Million) 122.30 -200 100 -50 150 70
Current Account to GDP (%) 1.00 -4 -1.8 -1.8 -1.8 -1.8
Government Debt to GDP (%) 59.00 90 85 85 85 85
Government Budget (% of GDP) -7.30 -11.7 -9.3 -9.3 -9.3 -9.3
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 Q4 Q1 Q2 Q3 2021
GDP Annual Growth Rate (%) -2.10 -6.3 0.4 1.6 3 4.2
GDP (USD Billion) 23.06 19.7 24 24 24 24
GDP Constant Prices (ZMW THO) 297553.00 297035 278807 298743 302314 305055
GDP per capita (USD) 1658.10 1600 1675 1675 1675 1675
GDP per capita PPP (USD) 3479.50 3300 3410 3410 3410 3410

Labour Actual Q4 Q1 Q2 Q3 2021
Unemployment Rate (%) 13.20 14.7 15.3 15.3 15.3 15.3
Population (Million) 17.38 17.88 18.4 18.4 18.4 18.4

Prices Actual Q4 Q1 Q2 Q3 2021
Inflation Rate (%) 16.00 14.7 12.5 11.4 11.2 11
Food Inflation (%) 14.60 12 11.8 11.7 11.5 11.7
Inflation Rate Mom (%) 1.30 1.2 1.3 1.6 1.3 1.4
Consumer Price Index CPI (points) 274.20 276 286 295 301 306
Cpi Housing Utilities (points) 303.07 285 319 321 336 316
CPI Transportation (points) 393.26 331 374 414 432 368

Money Actual Q4 Q1 Q2 Q3 2021
Interest Rate (%) 8.00 8 8 8 8 8
Deposit Interest Rate (%) 8.40 8.75 8.75 8.75 8.75 8.75
Money Supply M3 (ZMK Million) 93367280.17 65000000 65000000 65000000 65000000 75325090
Foreign Exchange Reserves (USD Million) 1430.83 1400 1370 1400 1425 1450

Trade Actual Q4 Q1 Q2 Q3 2021
Balance of Trade (ZMK Million) 5318.10 50 4700 1700 -7900 -300
Current Account (USD Million) 122.30 -200 100 -50 150 70
Current Account to GDP (%) 1.00 -4 -1.8 -1.8 -1.8 -1.8
Imports (ZMK Million) 9586.00 8100 7500 8300 8500 8300
Exports (ZMK Million) 16655.00 12800 9200 400 13100 11500
Foreign Direct Investment (USD Million) 152.40 -400 240 -200 270 170
External Debt (USD Million) 15049.10 16600 17100 17100 17100 17100
Capital Flows (USD Million) 200.00 -300 80 -100 280 -230

Government Actual Q4 Q1 Q2 Q3 2021
Government Debt to GDP (%) 59.00 90 85 85 85 85
Government Budget (% of GDP) -7.30 -11.7 -9.3 -9.3 -9.3 -9.3
Military Expenditure (USD Million) 386.00 400 400 400 400 415
Government Debt (USD Million) 11202.80 13500 14300 14300 14300 14300

Taxes Actual Q4 Q1 Q2 Q3 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 Q4 Q1 Q2 Q3 2021
Composite Pmi (points) 46.60 46 47.5 48 48.5 48


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.