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The African Exponent DATA

Country

🇿🇲 Zambia

ZM · ZMW Zambian kwacha · Compare Zambia →

Policy rate 13.25% Monetary Policy Rate · 12 May 2026
Headline inflation 6.20% Aug 2026
FX premium +3.39% week +0.65%
Latest T-bill 10.50% 91-day · 20 Aug 2026

Tier 1 · Markets

The Market Now

Series Per US$1 As of Source
Official 19.50 25 Sep 2026, 13:30 UTC BoZ
Marketparallel 20.16 27 Sep 2026, 00:35 UTC Binance P2P
Premium +3.39% week +0.65% market vs official

Official rate, 10-year annual average (World Bank)

6.116.12620142017202020232025

Premium history · since Aug 2026 · our collectors

0.7%1.6%2.5%Aug 2026Sep 2026

Download CSV — FX history · Download CSV — official rate, annual

Tier 2 · Policy & Prices

Policy & Prices

Policy rate

Instrument Rate Effective Source
Bank of Zambia Monetary Policy Rate 13.25% 12 May 2026 Bank of Zambia

As of 21 Sep 2026, 09:32 UTC

Inflation

Headline 6.20% Aug 2026 headline CPI Source
Food 6.00% Aug 2026 Food inflation Source

As of 12 Sep 2026, 19:49 UTC

Download CSV — headline · Download CSV — food

Yield curve

yield 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.

Download CSV — auction history

Tier 3 · Structure

Structure & trajectory

Annual indicators, latest available year on each card · Sources: World Bank / UN / IMF WEO Oct 2025 / V-Dem / EIA

19 of 28 indicators improving improving

Rule: for each metric with at least two observations, direction is the sign of (latest − earliest). Child mortality, $3/day poverty, national poverty, debt service, debt-to-GDP, and the Gini index are inverted (a decline is improvement). Overall: improving if ≥60% of those metrics improved, mixed if 40–60%, worsening if <40%.

Population

21.9M · 2025

16M19M22M201520172019202120232025

↑ 6M since 2014

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GDP per capita (PPP)

$4,379 · 2025

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

↑ $937.95 since 2014

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GDP per capita growth

0.9% · 2025

-6%0%4%201520172019202120232025

↓ 0.5 pts since 2014

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Life expectancy

66.5 years · 2024

6063.567201420162018202020222024

↑ 6.4 years since 2014

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Child mortality

48.4 per 1,000 · 2024

4855.563201420162018202020222024

↓ 14.2 since 2014

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Internet users

17.1% · 2024

6.5%11.8%17%201420162018202020222024

↑ 10.6 pts since 2014

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Manufacturing share of GDP

8.7% · 2025

6.7%7.8%9%201520172019202120232025

↑ 1.9 pts since 2014

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Electricity access

53.6% · 2024

27%40.5%54%201420162018202020222024

↑ 25.7 pts since 2014

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Poverty ($3/day)

71.7% · 2022

67%69.5%72%201520192022

↑ 3.8 pts since 2015

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National poverty line

60% · 2022

54%57%60%201520192022

↑ 5.6 pts since 2015

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Adult literacy

71.8% · 2024

71%76.5%82%2018202020222024

↑ 0.6 pts since 2018

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Debt service / exports

30.5% · 2024

3.9%18.4%33%201420162018202020222024

↑ 26.5 pts since 2014

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Exports of goods and services

$12.7B · 2024

$7.4B$10.2B$13B201420162018202020222024

↑ $1.7B since 2014

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GDP growth

3.8% · 2025

-3%0%7%201520172019202120232025

↓ 0.9 pts since 2014

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GDP

$28.9B · 2025

$18B$23.5B$29B201520172019202120232025

↑ $1.7B since 2014

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Unemployment

5.9% · 2025

4.5%5.2%6%201520172019202120232025

↓ 0.7 pts since 2014

ILO modeled estimate — national definitions differ

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FDI inflows

$2.4B · 2024

$-65.1M$0$2.4B201420162018202020222024

↑ $851.6M since 2014

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Remittances

$334.3M · 2024

$38M$184M$330M201420162018202020222024

↑ $276M since 2014

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External debt

$28.1B · 2024

$9.6B$19.8B$30B201420162018202020222024

↑ $18.5B since 2014

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Agriculture share of GDP

4.1% · 2025

2.2%4.2%6.2%201520172019202120232025

↓ 2.7 pts since 2014

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Services share of GDP

57% · 2025

50%53.5%57%201520172019202120232025

↑ 3.5 pts since 2014

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Investment rate

21.6% · 2024

21%30%39%201420162018202020222024

↓ 9.4 pts since 2014

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Terms of trade

126.40 · 2024

96.00113.00130.00201420162018202020222024

↑ 19.50 since 2014

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FX reserves

$4.1B · 2024

$1.2B$2.6B$4.1B201420162018202020222024

↑ $1B since 2014

includes gold

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Lending rate

9.5% · 2020

9.4%12.7%16%2014201620182020

↓ 2.1 pts since 2014

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Deposit rate

8.7% · 2020

6.8%8.9%11%2014201620182020

↑ 0.8 pts since 2014

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Gini index

51.50 · 2022

51.0053.5056.00201520192022

↓ 4.30 since 2015

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Health expenditure

6% · 2023

3.8%5.3%6.8%2014201820202023

↑ 2.1 pts since 2014

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Physicians

0.3 per 1,000 · 2022

0.10.20.32016201820202022

↑ 0.2 since 2016

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Tertiary enrollment

not available

Tourist arrivals

502,000 · 2020

500,000900,0001.3M2014201620182020

↓ 445,000 since 2014

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Account ownership

72.7% · 2024

35%54%73%201420162018202020222024

↑ 37.1 pts since 2014

Findex · every 3–4 years

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Exports per capita derived

$598.01 · 2024

$430$565$700201420162018202020222024

↓ $98.48 since 2014

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Median age

17.5 years · 2023

1516172014201820202023

↑ 1.5 years since 2014

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Government revenue / GDP

24.8% · 2026

17%21.5%26%201620182020202220242026

↑ 5.9 pts since 2014

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Debt to GDP

86% · 2025

33%86.5%140%20142017202020232025

↑ 52.1 pts since 2014

Source: IMF WEO · latest 1–2 years are IMF estimates

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Gross debt (national currency)

K624.1B · 2025

K56BK443BK830B20142017202020232025

↑ K567.5B since 2014

Source: IMF WEO · latest 1–2 years are IMF estimates

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Current account / GDP

0.9% · 2026

-5%0%12%20142017202020232026

↓ 1.2 pts since 2014

Source: IMF WEO · latest 1–2 years are IMF estimates

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Budget balance / GDP

-4.9% · 2026

-14%-8.8%-3.5%20142017202020232026

↑ 0.6 pts since 2014

Source: IMF WEO · latest 1–2 years are IMF estimates

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Electoral democracy

0.50 · 2025

0.350.430.52201520172019202120232025

↑ 0.02 since 2014

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Trade profile

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 derived

$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%
  6. Tobacco $193.7M · 1.7%
  7. Iron and steel $190.8M · 1.7%
  8. Inorganic chemicals $172.3M · 1.5%
  9. Beverages, spirits, vinegar $153.2M · 1.4%
  10. 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%
  6. Zimbabwe $376.5M · 3.3%
  7. Canada $257.4M · 2.3%
  8. Singapore $223.3M · 2.0%
  9. Tanzania $193.2M · 1.7%
  10. 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%
  6. Electrical machinery and equipment $477.1M · 4.2%
  7. Miscellaneous chemical products $312.3M · 2.8%
  8. Pharmaceutical products $307.2M · 2.7%
  9. Articles of iron or steel $288.1M · 2.6%
  10. 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%
  6. Tanzania $491.3M · 4.4%
  7. Japan $479.8M · 4.3%
  8. Saudi Arabia $323.7M · 2.9%
  9. DR Congo $320.5M · 2.8%
  10. Bahrain $316.7M · 2.8%

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

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