Markets Actual Q3 Q4 Q1 Q2 2022
Currency 21.95 22.02 22.09 22.15 22.22 22.36

Overview Actual Q3 Q4 Q1 Q2 2022
GDP Annual Growth Rate (%) 0.70 2.6 1.8 0.7 2.3 2.7
Unemployment Rate (%) 12.20 15.3 15.3 14.6 14.6 14.6
Inflation Rate (%) 24.60 25.4 23 20 18 16.7
Interest Rate (%) 8.50 9 9 9 8.5 8.5
Balance of Trade (ZMK Million) 8096.80 9080 -300 -300 8100 7300
Current Account (USD Million) 528.10 150 280 -180 -180 -250
Current Account to GDP (% of GDP) 1.00 -0.8 -0.8 -1.3 -1.3 -1.3
Government Debt to GDP (% of GDP) 96.00 118 118 120 120 120
Government Budget (% of GDP) -11.00 -10 -10 -9 -9 -9
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 Q3 Q4 Q1 Q2 2022
GDP Annual Growth Rate (%) 0.70 2.6 1.8 0.7 2.3 2.7
GDP (USD Billion) 19.32 24 24 24 24 27
GDP Constant Prices (ZMW THO) 354410.00 315406 305055 360789 356891 370531
GDP per capita (USD) 1558.32 1675 1675 1675 1675 1640
GDP per capita PPP (USD) 3270.04 3410 3410 3410 3410 3500

Labour Actual Q3 Q4 Q1 Q2 2022
Unemployment Rate (%) 12.20 15.3 15.3 14.6 14.6 14.6
Population (Million) 17.88 18.4 18.4 18.4 18.4 18.93

Prices Actual Q3 Q4 Q1 Q2 2022
Inflation Rate (%) 24.60 25.4 23 20 18 16.7
Food Inflation (%) 31.20 27 18 16 16 12
Inflation Rate Mom (%) 1.30 1.3 2 1.4 1.4 1.7
Consumer Price Index CPI (points) 330.14 340 356 375 390 415
Cpi Housing Utilities (points) 350.96 379 375 393 414 437
CPI Transportation (points) 438.80 488 497 508 518 580

Money Actual Q3 Q4 Q1 Q2 2022
Interest Rate (%) 8.50 9 9 9 8.5 8.5
Deposit Interest Rate (%) 8.22 8.72 8.72 8.72 8.22 8.22
Money Supply M3 (ZMK Million) 118841582.80 105000000 98500000 96700000 96700000 90000000
Foreign Exchange Reserves (USD Million) 1156.37 1250 1300 1280 1310 1330

Trade Actual Q3 Q4 Q1 Q2 2022
Balance of Trade (ZMK Million) 8096.80 9080 -300 -300 8100 7300
Current Account (USD Million) 528.10 150 280 -180 -180 -250
Current Account to GDP (% of GDP) 1.00 -0.8 -0.8 -1.3 -1.3 -1.3
Imports (ZMK Million) 13089.00 8500 8700 8400 8400 8500
Exports (ZMK Million) 20005.00 16000 16800 14700 14700 15800
Foreign Direct Investment (USD Million) 380.60 8 -150 -180 -180 200
External Debt (USD Million) 16445.00 17100 17100 17400 17400 17400
Capital Flows (USD Million) 870.30 280 -230 200 200 120

Government Actual Q3 Q4 Q1 Q2 2022
Government Debt to GDP (% of GDP) 96.00 118 118 120 120 120
Government Budget (% of GDP) -11.00 -10 -10 -9 -9 -9
Military Expenditure (USD Million) 262.00 400 415 415 415 415
Government Debt (USD Million) 11202.80 14000 14000 14500 14500 14500

Taxes Actual Q3 Q4 Q1 Q2 2022
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 Q3 Q4 Q1 Q2 2022
Composite PMI (points) 49.30 45 48 48.6 48.6 49.6


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.