Economy Of Zambia - Zambia Information

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Economy Of Zambia
Zambia Information - Country Guides

Economy overview	Despite progress in privatization and budgetary reform, Zambia's economic growth remains below the 5% to 7% necessary to reduce poverty significantly. Privatization of government-owned copper mines relieved the government from covering mammoth losses generated by the industry and greatly improved the chances for copper mining to return to profitability and spur economic growth. Copper output increased in 2003 and is expected to increase again in 2004, due to higher copper prices. The maize harvest doubled in 2003, helping boost GDP by 4.0%. Cooperation continues with international bodies on programs to reduce poverty, including a new lending arrangement with the IMF expected in the second quarter, 2004. A tighter monetary policy will help cut inflation, but Zambia still has a serious problem with fiscal discipline.
GDP	purchasing power parity - $8.596 billion (2004 est.)
GDP - real growth rate	4% (2004 est.)
GDP - per capita	purchasing power parity - $800 (2004 est.)
GDP - composition by sector	agriculture: 15.3% industry: 27.9% services: 56.9% (2004 est.)
Investment gross fixed	45.2% of GDP (2004 est.)
Population below poverty line	86% (1993)
Household income or consumption by percentage share	lowest 10%: 1.1% highest 10%: 41% (1998)
Distribution of family income - Gini index	52.6 (1998)
Inflation rate consumer prices	21.4% (2004 est.)
Labor force	4.59 million (2004 est.)
Labor force by occupation	agriculture 85%, industry 6%, services 9%
Unemployment rate	50% (2000 est.)
Budget	revenues: $896.7 million expenditures: $1.142 billion, including capital expenditures of na (2004 est.)
Public debt	133.6% of GDP (2004 est.)
Agriculture products	corn, sorghum, rice, peanuts, sunflower seed, vegetables, flowers, tobacco, cotton, sugarcane, cassava (tapioca); cattle, goats, pigs, poultry, milk, eggs, hides; coffee
Industries	copper mining and processing, construction, foodstuffs, beverages, chemicals, textiles, fertilizer, horticulture
Industrial production growth rate	4% (2004 est.)
Electricity production	7.751 billion kWh (2001)
Electricity production by source	fossil fuel: 0.5% hydro: 99.5% other: 0% (2001) nuclear: 0%
Electricity consumption	5.458 billion kWh (2001)
Electricity exports	1.75 billion kWh (2001)
Electricity imports	0 kWh (2001)
Oil production	0 bbl/day (2001 est.)
Oil consumption	11,000 bbl/day (2001 est.)
Oil exports	NA (2001)
Oil imports	NA (2001)
Oil proved reserves
Natural gas production
Natural gas consumption
Natural gas exports
Natural gas imports
Natural gas proved reserves
Current account balance	$-340 million (2004 est.)
Exports	$1.039 billion f.o.b. (2004 est.)
Exports commodities	copper 55%, cobalt, electricity, tobacco, flowers, cotton
Exports partners	UK 26.7%, South Africa 21.6%, Tanzania 13.9%, Switzerland 8.1% (2003)
Imports	$1.128 billion f.o.b. (2003 est.)
Imports commodities	machinery, transportation equipment, petroleum products, electricity, fertilizer; foodstuffs, clothing
Imports partners	South Africa 48.3%, Zimbabwe 12.8%, UK 5.9%, UAE 4.3% (2003)
Reserves of foreign exchange gold	$247.7 million (2004 est.)
Debt external	$5.281 billion (2004 est.)
Economic aid recipient	$651 million (2000 est.)
Currency	Zambian kwacha (ZMK)
Currency code	ZMK
Exchange rates	Zambian kwacha per US dollar - 4,733.77 (2003), 4,398.59 (2002), 3,610.93 (2001), 3,110.84 (2000), 2,388.02 (1999)
Fiscal year	calendar year

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Economy Of ZambiaZambia Information - Country Guides

Economy Of Zambia
Zambia Information - Country Guides