Economy - overview Despite progress in privatization and budgetary reform, Zambia's economyhas a long way to go. Inflation, while slowing somewhat, continues to be amajor concern to the CHILUBA government. Zambia's copper mining sector, whichaccounts for over 80% of the nation's foreign currency intake, is struggling.Production rates are down as are world copper prices. Aid cuts by Zambia'sdonors, arising out of concern for the November 1996 flawed election, willseverely damage Zambia's economic prospects. Urged by the World Bank, Zambiahas embarked on a privatization program which is to include the all-importantcopper industry.

GDP purchasing power parity - $9.7 billion (1996 est.)

GDP - real growth rate 6.4% (1996 est.)

GDP - per capita purchasing power parity - $1,060 (1996 est.)

GDP - composition by sector
agriculture: 32%
industry : 33%
services: 35% (1994 est.)

Inflation rate - consumer price index 34% (1995 est.)

Labor force
total: 3.4 million
by occupation: agriculture 85%, mining, manufacturing, and construction 6%, transportand services 9%

Unemployment rate 22% (1991)

Budget
revenues: $888 million
expenditures: $835 million, including capital expenditures of $110 million (1995 est.)

Industries copper mining and processing, construction, foodstuffs, beverages, chemicals,textiles, fertilizer

Industrial production growth rate -1% (1992)

Electricity - capacity 2.44 million kW (1994)

Electricity - production 7.78 billion kWh (1994)

Electricity - consumption per capita 610 kWh (1995 est.)

Agriculture - products corn, sorghum, rice, peanuts, sunflower seed, tobacco, cotton, sugarcane,cassava (tapioca); cattle, goats, pigs, poultry, beef, pork, poultry meat, milk, eggs, hides

Exports
total value : $975 million (f.o.b., 1996 est.)
commodities: copper, zinc, cobalt, lead, tobacco
partners: EU countries, Japan, South Africa, US, Saudi Arabia, India, Thailand,Malaysia

Imports
total value: $990 million (f.o.b., 1996 est.)
commodities: machinery, transportation equipment, foodstuffs, fuels, petroleum products,electricity, miscellaneous manufactured goods
partners: South Africa, EU countries, Japan, Saudi Arabia, US

Debt - external $7.2 billion (1996 est.)

Economic aid
recipient: ODA, $734 million (1993)

Currency 1 Zambian kwacha (ZK) = 100 ngwee

Exchange rates Zambian kwacha (ZK) per US$1 - 1,250 (January 1997), 1,250 (1996), 833.33(1995), 769.23 (1994), 434.78 (1993), 156.25 (1992)

Fiscal year calendar year

NOTE: The information regarding Zambia on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Zambia Economy 1997 information contained here. All suggestions for corrections of any errors about Zambia Economy 1997 should be addressed to the CIA.