In-Depth Analysis
Zambia
The macroeconomic prospects for Zambia remain robust despite a backdrop of global malaise and subsequent downside risk to base metals. Underpinning the robust performance is the continued development of the extractive sector and the strong fiscal spending programme geared towards addressing the country’s infrastructure shortfall.
Growth momentum slowed in H2, with fledgling recoveries in the manufacturing and construction sectors eclipsed by a surge in input costs while high lending rates strain consumer consumption growth. Meanwhile, softening global commodity prices and adverse domestic production developments halted progress made on improving the current account shortfall. However, the mining sector has surprised to the upside, while government revenue has come in stronger than previously expected. (Source: Zambia Quarterly Update, December 2018.)
Macroeconomic Data
(2018)
|
Fiscal Balance (as a % of GDP) |
-6.8 |
|
Consumer Price Index (% change y-o-y, avg) |
7.7 |
|
Current Account Balance (as a % of GDP) |
-5.4 |
|
Real GDP (annual % change) |
3.3 |
|
GDP per Capita, US$ |
1,469 |
|
Import Cover (months) |
1.9 |
|
Population, million |
17.6 |
| Total External Debt (as a % of GDP) |
65.9 |