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Zambia

ZM · currency ZMW (Zambian kwacha)

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Overview

  • Population

    21.9M

    people · 2025

    World Bank

  • GDP

    $28.9B

    current US$ · 2025

    World Bank

  • Inflation

    6.30%

    headline, % y/y · Oct 2026

    National statistics office

  • Policy rate

    13.25%

    % · effective 12 May 2026

    Bank of Zambia

  • Official exchange rate

    20.41

    ZMW per US$1 · 11 Nov 2026, 13:30 UTC

    BoZ

  • USDT peer-to-peer rate parallel market

    20.94

    ZMW per US$1 · 12 Nov 2026, 04:35 UTC

    Binance P2P

Coverage: 39 of 40 annual indicators reported, latest years 2020–2026. Gaps read “not available” (source has no figure) or “not yet covered” (not yet collected), never zero.

Currencies & Rates

Official and market exchange rates, policy rates, government yields, bank rates, reserves and stock indices.

Exchange rates

ZMW per US$1. Official and market rates are separate series and are never blended.
SeriesRateAs ofSource
Official rate 20.41 11 Nov 2026, 13:30 UTC BoZ
Parallel-market rate (USDT peer-to-peer median) parallel 20.94 12 Nov 2026, 04:35 UTC Binance P2P
Market premium% by which the market rate exceeds the official rate +2.62% +0.56% pts over 7 days How we measure

Market premium history · since Aug 2026 · collected by The African Exponent

0.1%1.7%3.3%Aug 2026Sep 2026Oct 2026Nov 2026

Official rate, 10-year annual average (ZMW per US$1, World Bank)

6.116.12620142017202020232025

Policy rate

InstrumentRateEffectiveSource
Monetary Policy Rate% per year · Bank of Zambia 13.25% 12 May 2026 Bank of Zambia

Checked 9 Nov 2026, 09:32 UTC

Government securities yields

% yield at the latest auction for each tenor. Tenors up to 364 days are Treasury bills; longer tenors are bonds. yield Source: BoZ

91-day 10.50%20 Aug 2026
182-day 10.95%20 Aug 2026
364-day 12.10%20 Aug 2026

Steep — 364-day above 91-day.

as of 20 Aug 2026

Annual indicators

Annual indicators · latest year reported for Zambia · change over the period shown
Indicator Latest Year Change Source Data
FX reserves Current US$, total reserves including gold includes gold $4.1B 2024 ↑ $1B since 2014 World Bank CSV Rank Compare
Lending rate % per year, average bank lending rate 9.5% 2020 ↓ 2.1 pts since 2014 World Bank CSV Rank Compare
Deposit rate % per year, average bank deposit rate 8.7% 2020 ↑ 0.8 pts since 2014 World Bank CSV Rank Compare
Show trend charts (3)

FX reserves

$4.1B · 2024

$1.2B$2.6B$4.1B201420162018202020222024

↑ $1B since 2014

Lending rate

9.5% · 2020

9.4%12.7%16%2014201620182020

↓ 2.1 pts since 2014

Deposit rate

8.7% · 2020

6.8%8.9%11%2014201620182020

↑ 0.8 pts since 2014

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Economy & Prices

Output, growth, inflation, jobs, investment, the structure of the economy and minimum wages.

Inflation % change from a year earlier

Headline 6.30% Oct 2026 headline CPI Source
Food 5.70% Oct 2026 Food inflation Source

Checked 5 Nov 2026, 06:07 UTC

Annual indicators

Annual indicators · latest year reported for Zambia · change over the period shown
Indicator Latest Year Change Source Data
GDP Current US$ $28.9B 2025 ↑ $1.7B since 2014 World Bank CSV Rank Compare
GDP growth % change, real (inflation-adjusted) 3.8% 2025 ↓ 0.9 pts since 2014 World Bank CSV Rank Compare
GDP per capita (PPP) Current international $ per person, PPP $4,379 2025 ↑ $937.95 since 2014 World Bank CSV Rank Compare
GDP per capita growth % change per person, real 0.9% 2025 ↓ 0.5 pts since 2014 World Bank CSV Rank Compare
Unemployment % of labour force ILO modeled estimate — national definitions differ 5.9% 2025 ↓ 0.7 pts since 2014 World Bank CSV Rank Compare
Investment rate Gross fixed capital formation, % of GDP 21.6% 2024 ↓ 9.4 pts since 2014 World Bank CSV Rank Compare
Agriculture share of GDP Agriculture value added, % of GDP 4.1% 2025 ↓ 2.7 pts since 2014 World Bank CSV Rank Compare
Manufacturing share of GDP Manufacturing value added, % of GDP 8.7% 2025 ↑ 1.9 pts since 2014 World Bank CSV Rank Compare
Services share of GDP Services value added, % of GDP 57% 2025 ↑ 3.5 pts since 2014 World Bank CSV Rank Compare
Show trend charts (9)

GDP

$28.9B · 2025

$18B$23.5B$29B201520172019202120232025

↑ $1.7B since 2014

GDP growth

3.8% · 2025

-3%0%7%201520172019202120232025

↓ 0.9 pts since 2014

GDP per capita (PPP)

$4,379 · 2025

$3,100$3,750$4,400201520172019202120232025

↑ $937.95 since 2014

GDP per capita growth

0.9% · 2025

-6%0%4%201520172019202120232025

↓ 0.5 pts since 2014

Unemployment

5.9% · 2025

4.5%5.2%6%201520172019202120232025

↓ 0.7 pts since 2014

Investment rate

21.6% · 2024

21%30%39%201420162018202020222024

↓ 9.4 pts since 2014

Agriculture share of GDP

4.1% · 2025

2.2%4.2%6.2%201520172019202120232025

↓ 2.7 pts since 2014

Manufacturing share of GDP

8.7% · 2025

6.7%7.8%9%201520172019202120232025

↑ 1.9 pts since 2014

Services share of GDP

57% · 2025

50%53.5%57%201520172019202120232025

↑ 3.5 pts since 2014

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Public Finance & Debt

Government revenue, budget balance, public and external debt, debt service and sovereign credit ratings.

Sovereign credit ratings

No published sovereign rating recorded

Annual indicators

Annual indicators · latest year reported for Zambia · change over the period shown
Indicator Latest Year Change Source Data
Government revenue / GDP General government revenue, % of GDP 2026 is an IMF projection (forecast) for the year in progress when fetched, not a reported outturn. 24.8% 2026 ↑ 5.9 pts since 2014 IMF DataMapper CSV Rank Compare
Budget balance / GDP General government net lending/borrowing, % of GDP Latest 1–2 years are IMF estimates -4.9% 2026 ↑ 0.6 pts since 2014 IMF World Economic Outlook Oct 2025 CSV Rank Compare
Debt to GDP General government gross debt, % of GDP Latest 1–2 years are IMF estimates 86% 2025 ↑ 52.1 pts since 2014 IMF World Economic Outlook Oct 2025 CSV Rank Compare
Gross debt (national currency) General government gross debt, local currency Latest 1–2 years are IMF estimates K624.1B 2025 ↑ K567.5B since 2014 IMF World Economic Outlook Oct 2025 CSV
External debt Total external debt stocks, current US$ $28.1B 2024 ↑ $18.5B since 2014 World Bank CSV Rank Compare
Debt service / exports Total debt service, % of exports and primary income 30.5% 2024 ↑ 26.5 pts since 2014 World Bank CSV Rank Compare
Show trend charts (6)

Government revenue / GDP

24.8% · 2026

17%21.5%26%201620182020202220242026

↑ 5.9 pts since 2014

Budget balance / GDP

-4.9% · 2026

-14%-8.8%-3.5%20142017202020232026

↑ 0.6 pts since 2014

Debt to GDP

86% · 2025

33%86.5%140%20142017202020232025

↑ 52.1 pts since 2014

Gross debt (national currency)

K624.1B · 2025

K56BK443BK830B20142017202020232025

↑ K567.5B since 2014

External debt

$28.1B · 2024

$9.6B$19.8B$30B201420162018202020222024

↑ $18.5B since 2014

Debt service / exports

30.5% · 2024

3.9%18.4%33%201420162018202020222024

↑ 26.5 pts since 2014

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Trade & Resources

Exports, imports, trade partners and products, investment and remittance flows, oil and commodities.

Trade profile

Goods and services, current US$
FlowLatestChange
Exports $12.7B · 2024 ↑ $1.7B since 2014
Imports $12.1B · 2024 ↑ $1.8B since 2014
Balance derived $688.7M · 2024 ↓ $143.1M since 2014
Show trade trend charts (3)

Exports

$12.7B · 2024

$7.4B$10.2B$13B201420162018202020222024

↑ $1.7B since 2014

Imports

$12.1B · 2024

$5.8B$8.9B$12B201420162018202020222024

↑ $1.8B since 2014

Balance

$688.7M · 2024

$-645.1M$0$4B201420162018202020222024

↓ $143.1M since 2014

Top exports · 2024

Products

  1. Copper$7.6B · 67.3%
  2. Ores, slag and ash$475.7M · 4.2%
  3. Salt, earths, stone, cement$326.2M · 2.9%
  4. Mineral fuels$306.8M · 2.7%
  5. Pearls, precious stones and metals$280.4M · 2.5%
Show all 10 products
  1. Tobacco$193.7M · 1.7%
  2. Iron and steel$190.8M · 1.7%
  3. Inorganic chemicals$172.3M · 1.5%
  4. Beverages, spirits, vinegar$153.2M · 1.4%
  5. Food industry residues and fodder$144.9M · 1.3%

Partners

  1. M49 757$4.8B · 42.5%
  2. China$2.3B · 20.8%
  3. DR Congo$1.2B · 10.7%
  4. South Africa$471.8M · 4.2%
  5. United Arab Emirates$400M · 3.5%
Show all 10 partners
  1. Zimbabwe$376.5M · 3.3%
  2. Canada$257.4M · 2.3%
  3. Singapore$223.3M · 2.0%
  4. Tanzania$193.2M · 1.7%
  5. Namibia$141.1M · 1.3%

Top imports · 2024

Products

  1. Mineral fuels$2.6B · 22.9%
  2. Machinery and mechanical appliances$1.8B · 15.8%
  3. Vehicles other than railway$1.2B · 10.6%
  4. Fertilisers$661.4M · 5.9%
  5. Plastics$504.3M · 4.5%
Show all 10 products
  1. Electrical machinery and equipment$477.1M · 4.2%
  2. Miscellaneous chemical products$312.3M · 2.8%
  3. Pharmaceutical products$307.2M · 2.7%
  4. Articles of iron or steel$288.1M · 2.6%
  5. Iron and steel$257.8M · 2.3%

Partners

  1. South Africa$2.9B · 25.7%
  2. China$1.9B · 17.0%
  3. United Arab Emirates$609.9M · 5.4%
  4. India$569.9M · 5.1%
  5. Singapore$497.2M · 4.4%
Show all 10 partners
  1. Tanzania$491.3M · 4.4%
  2. Japan$479.8M · 4.3%
  3. Saudi Arabia$323.7M · 2.9%
  4. DR Congo$320.5M · 2.8%
  5. Bahrain$316.7M · 2.8%

2025 filings are still arriving — this page updates as each country reports

Commodity exposure for Zambia →

Annual indicators

Annual indicators · latest year reported for Zambia · change over the period shown
Indicator Latest Year Change Source Data
Exports of goods and services Goods and services, current US$ $12.7B 2024 ↑ $1.7B since 2014 World Bank CSV Rank Compare
Exports per capita derived Current US$ per person (derived) $598.01 2024 ↓ $98.48 since 2014 Derived from World Bank series on this page CSV Rank Compare
Current account / GDP Current-account balance, % of GDP Latest 1–2 years are IMF estimates 0.9% 2026 ↓ 1.2 pts since 2014 IMF World Economic Outlook Oct 2025 CSV Rank Compare
FDI inflows Foreign direct investment, net inflows, current US$ $2.4B 2024 ↑ $851.6M since 2014 World Bank CSV Rank Compare
Remittances Personal remittances received, current US$ $334.3M 2024 ↑ $276M since 2014 World Bank CSV Rank Compare
Terms of trade Net barter terms of trade, index (2015 = 100) 126.40 2024 ↑ 19.50 since 2014 World Bank CSV Rank Compare
Tourist arrivals International tourist arrivals per year 502,000 2020 ↓ 445,000 since 2014 World Bank CSV Rank Compare
Show trend charts (7)

Exports of goods and services

$12.7B · 2024

$7.4B$10.2B$13B201420162018202020222024

↑ $1.7B since 2014

Exports per capita

$598.01 · 2024

$430$565$700201420162018202020222024

↓ $98.48 since 2014

Current account / GDP

0.9% · 2026

-5%0%12%20142017202020232026

↓ 1.2 pts since 2014

FDI inflows

$2.4B · 2024

$-65.1M$0$2.4B201420162018202020222024

↑ $851.6M since 2014

Remittances

$334.3M · 2024

$38M$184M$330M201420162018202020222024

↑ $276M since 2014

Terms of trade

126.40 · 2024

96.00113.00130.00201420162018202020222024

↑ 19.50 since 2014

Tourist arrivals

502,000 · 2020

500,000900,0001.3M2014201620182020

↓ 445,000 since 2014

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People & Society

Population, health, education, poverty and inequality, access to services and democracy.

Annual indicators · latest year reported for Zambia · change over the period shown
Indicator Latest Year Change Source Data
Population People, total 21.9M 2025 ↑ 6M since 2014 World Bank CSV Rank Compare
Median age Years 17.5 years 2023 ↑ 1.5 years since 2014 UN WPP 2024, via Our World in Data CSV
Life expectancy Years at birth 66.5 years 2024 ↑ 6.4 years since 2014 World Bank CSV Rank Compare
Child mortality Under-5 deaths per 1,000 live births 48.4 per 1,000 2024 ↓ 14.2 since 2014 World Bank CSV Rank Compare
Health expenditure Current health spending, % of GDP 6% 2023 ↑ 2.1 pts since 2014 World Bank CSV Rank Compare
Physicians Per 1,000 people 0.3 per 1,000 2022 ↑ 0.2 since 2016 World Bank CSV Rank Compare
Adult literacy % of people aged 15 and over 71.8% 2024 ↑ 0.6 pts since 2018 World Bank CSV Rank Compare
Poverty ($3/day) % of people below $3.00 a day (2021 PPP) 71.7% 2022 ↑ 3.8 pts since 2015 World Bank CSV Rank Compare
National poverty line % of people below the national poverty line 60% 2022 ↑ 5.6 pts since 2015 World Bank CSV
Gini index Income inequality, 0 (equal) to 100 51.50 2022 ↓ 4.30 since 2015 World Bank CSV Rank Compare
Electricity access % of population 53.6% 2024 ↑ 25.7 pts since 2014 World Bank CSV Rank Compare
Internet users % of population using the internet 17.1% 2024 ↑ 10.6 pts since 2014 World Bank CSV Rank Compare
Account ownership % of people aged 15+ with an account Findex · every 3–4 years 72.7% 2024 ↑ 37.1 pts since 2014 World Bank CSV Rank Compare
Electoral democracy V-Dem electoral democracy index, 0 to 1 0.50 2025 ↑ 0.02 since 2014 V-Dem Institute CSV Rank Compare

Not available for Zambia: Tertiary enrollment.

Show trend charts (14)

Population

21.9M · 2025

16M19M22M201520172019202120232025

↑ 6M since 2014

Median age

17.5 years · 2023

1516172014201820202023

↑ 1.5 years since 2014

Life expectancy

66.5 years · 2024

6063.567201420162018202020222024

↑ 6.4 years since 2014

Child mortality

48.4 per 1,000 · 2024

4855.563201420162018202020222024

↓ 14.2 since 2014

Health expenditure

6% · 2023

3.8%5.3%6.8%2014201820202023

↑ 2.1 pts since 2014

Physicians

0.3 per 1,000 · 2022

0.10.20.32016201820202022

↑ 0.2 since 2016

Adult literacy

71.8% · 2024

71%76.5%82%2018202020222024

↑ 0.6 pts since 2018

Poverty ($3/day)

71.7% · 2022

67%69.5%72%201520192022

↑ 3.8 pts since 2015

National poverty line

60% · 2022

54%57%60%201520192022

↑ 5.6 pts since 2015

Gini index

51.50 · 2022

51.0053.5056.00201520192022

↓ 4.30 since 2015

Electricity access

53.6% · 2024

27%40.5%54%201420162018202020222024

↑ 25.7 pts since 2014

Internet users

17.1% · 2024

6.5%11.8%17%201420162018202020222024

↑ 10.6 pts since 2014

Account ownership

72.7% · 2024

35%54%73%201420162018202020222024

↑ 37.1 pts since 2014

Electoral democracy

0.50 · 2025

0.350.430.52201520172019202120232025

↑ 0.02 since 2014

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Listed companies

Also listed in Zambia, incorporated elsewhere

  • ShopriteSHOP · incorporated in South Africa · Sector not classified

All listed companies · Company CSV downloads

Downloads

Each indicator row above has its own CSV link. Every file starts with its source, source URL and page link. All downloads

All 44 CSV files for Zambia

Currencies & Rates

Economy & Prices

Public Finance & Debt

Trade & Resources

People & Society

From the magazine