The economy of Zambia shrank 2.7% year-on-year in the fourth quarter of 2020, following an upwardly revised 3.1% decline in the previous three-month period. It was the fourth consecutive quarter of economic contraction on account of the COVID-19 shock, although at a softer pace. Main declines were registered in wholesale & retail trade (-11.8% vs -10.7% in Q3); accommodation & food services (-28.3% vs -31.9%); education (-22.1% vs -23.1%); arts, entertainment & recreation (-60.1% vs -83.2%); and manufacturing (-1.3% vs 0.2%). On a brighter note, notable growth was recorded in transportation & storage (18% vs 12.4%); finance & insurance (14.5% vs 11.4%) and information & communication (13.7% vs 17.7%). Considering the full year of 2020, the GDP declined 3 percent, compared to a growth of 1.4% in 2019. It was the first annual contraction in more than 20 years. source: Central Statistical Office, Zambia
GDP Annual Growth Rate in Zambia averaged 3.34 percent from 1961 until 2020, reaching an all time high of 16.70 percent in the fourth quarter of 1965 and a record low of -8.60 percent in the fourth quarter of 1994. This page provides - Zambia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Zambia GDP Annual Growth Rate - values, historical data and charts - was last updated on May of 2021.
GDP Annual Growth Rate in Zambia is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Zambia to stand at 1.30 in 12 months time. In the long-term, the Zambia GDP Annual Growth Rate is projected to trend around 2.00 percent in 2022 and 2.30 percent in 2023, according to our econometric models.