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.

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Zambia GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-2.70 -3.10 16.70 -8.60 1961 - 2020 percent Quarterly
2010=100, NSA

Zambia GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate -2.70 -3.10 16.70 -8.60 percent [+]
GDP 23.06 27.01 28.05 0.69 USD Billion [+]
GDP Constant Prices 354410.00 297553.00 354410.00 2448.00 ZMW THO [+]
GDP per capita 1658.10 1678.20 1718.70 906.60 USD [+]
GDP per capita PPP 3479.50 3521.50 3521.50 1902.40 USD [+]
Gdp From Agriculture 3105.10 1544.80 3477.80 1323.00 ZMK Million [+]
Gdp From Construction 3524.80 3793.00 4073.00 2076.55 ZMK Million [+]
Gdp From Manufacturing 2780.00 2849.40 3244.00 1690.01 ZMK Million [+]
Gdp From Mining 3904.00 3927.50 3927.50 2657.60 ZMK Million [+]
Gdp From Public Administration 1501.80 1488.90 1993.00 780.58 ZMK Million [+]
Gdp From Services 6621.00 7491.70 8392.00 3552.60 ZMK Million [+]
Gdp From Transport 1294.70 1458.70 1747.12 940.70 ZMK Million [+]


Zambia GDP Annual Growth Rate
Zambia is one of the poorest countries in the world with 60 percent of population living below poverty line. In recent years, Zambia’s economy has been growing rapidly due to expansion of copper mining industry and agriculture diversification. However, widespread poverty, mainly caused by fast population growth and systemic youth unemployment, remains Zambia’s main economic challenge.