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Macro

Zambia

Sub-Saharan Africa · Lower middle income · IMF WEO April 2026 · World Bank WDI

GDP▲ 14.1%
Current prices2025
29USD bn
GDP per capita▲ 11.0%
Current prices2025
1,318USD
Real GDP growth▼ 0.1 pp
Annual change2025
3.8%
Inflation▼ 1.1 pp
Average consumer prices2025
13.9%
Government debt▼ 39.2 pp
General government, gross2025
86.0% of GDP
Current account▲ 0.9 pp
Balance2025
-3.5% of GDP
Population▲ 2.8%
Total2025
21.91million

Real GDP growth, %

Since 1995 · lighter bars = IMF projection
-2.80.010.31995: 2.9%1996: 6.2%1997: 3.8%1998: -0.4%1999: 4.7%2000: 3.9%2001: 5.3%2002: 4.5%2003: 6.9%2004: 7.0%2005: 7.2%2006: 7.9%2007: 8.4%2008: 7.8%2009: 9.2%2010: 10.3%2011: 5.6%2012: 7.6%2013: 5.1%2014: 4.7%2015: 2.9%2016: 3.8%2017: 3.5%2018: 4.0%2019: 1.4%2020: -2.8%2021: 6.2%2022: 5.2%2023: 5.4%2024: 3.8%2025: 3.8%2026: 4.3% (IMF projection)2027: 4.7% (IMF projection)2028: 5.1% (IMF projection)2029: 5.3% (IMF projection)2030: 5.3% (IMF projection)2031: 5.3% (IMF projection)IMF projection19952000200520102015202020252030

Inflation, %

Average consumer prices · lighter bars = IMF projection
0.038.61995: 31.5%1996: 38.6%1997: 21.4%1998: 22.7%1999: 23.9%2000: 24.1%2001: 21.4%2002: 22.2%2003: 21.4%2004: 18.0%2005: 18.3%2006: 9.0%2007: 10.7%2008: 12.4%2009: 13.4%2010: 8.5%2011: 8.7%2012: 6.6%2013: 7.0%2014: 7.8%2015: 10.1%2016: 17.9%2017: 6.6%2018: 7.5%2019: 9.2%2020: 15.7%2021: 22.0%2022: 11.0%2023: 10.9%2024: 15.0%2025: 13.9%2026: 9.0% (IMF projection)2027: 8.0% (IMF projection)2028: 7.0% (IMF projection)2029: 7.0% (IMF projection)2030: 7.0% (IMF projection)2031: 7.0% (IMF projection)IMF projection19952000200520102015202020252030

IMF outlook

IMF World Economic Outlook April 2026 · italics = IMF projection
Indicator2021202220232024202520262027202820292030
Real GDP growth %6.25.25.43.83.84.34.75.15.35.3
Inflation, average consumer prices %22.011.010.915.013.99.08.07.07.07.0
GDP, current prices USD bn22292825294143465256
GDP per capita, current prices USD1,1271,4471,3311,1871,3181,8311,8701,9402,1202,235
GDP per capita, PPP Int. USD3,5033,8404,0804,2214,3814,5734,7614,9515,1695,403
General government gross debt % of GDP111.099.5129.1125.286.0–––––
General government net lending/borrowing % of GDP-8.1-7.8-5.5-3.5-3.8-4.9-4.4-3.1-1.9-1.5
Current account balance % of GDP11.93.7-3.0-4.4-3.50.91.92.12.22.2
Population million19.6020.1520.7221.3221.9122.5223.1423.7624.3925.02

Government debt, % of GDP

General government gross debt
0.02612000: 261%2001: 210%2002: 180%2003: 159%2004: 130%2005: 76%2006: 25%2007: 22%2008: 19%2009: 21%2010: 19%2011: 21%2012: 25%2013: 26%2014: 34%2015: 62%2016: 61%2017: 67%2018: 81%2019: 103%2020: 140%2021: 111%2022: 99%2023: 129%2024: 125%2025: 86%200020052010201520202025

Current account, % of GDP

Balance of payments
-17.40.011.92000: -12.2%2001: -17.4%2002: -12.1%2003: -10.3%2004: -3.0%2005: -2.8%2006: 4.6%2007: -1.2%2008: -3.3%2009: 6.0%2010: 7.5%2011: 4.7%2012: 4.9%2013: -0.8%2014: 2.1%2015: -2.7%2016: -3.3%2017: -1.7%2018: -1.3%2019: 0.5%2020: 11.8%2021: 11.9%2022: 3.7%2023: -3.0%2024: -4.4%2025: -3.5%2026: 0.9% (IMF projection)2027: 1.9% (IMF projection)2028: 2.1% (IMF projection)2029: 2.2% (IMF projection)2030: 2.2% (IMF projection)2031: 1.4% (IMF projection)IMF projection2000200520102015202020252030

Economic structure

Value added by sector, % of GDP · World Bank
AgricultureManufacturingOther industryServices
YearStructureAgricultureIndustryManufacturingServices
199514.134.39.239.7
200514.626.89.849.0
20155.033.77.556.2
20254.135.38.757.0

Income, trade and society

World Bank WDI · change over 10 years
IndicatorLatestUnitYear10Y change
GNI per capita, Atlas method1,200USD2025-21.6%
GNI, Atlas method26USD bn2025+4.6%
Exports of goods and services35.0% of GDP2024-3.8 pp
Imports of goods and services27.6% of GDP2024-9.8 pp
Life expectancy at birth66.5years2024+10.7%
Urban population45.9% of total2025+4.0 pp

Sources: IMF World Economic Outlook (April 2026; 2026 onwards are IMF projections) · World Bank World Development Indicators (CC BY 4.0)