Zambia: economy

What is the inflation rate in Zambia?

Consumer prices in Zambia were 6.1% higher in September 2026 than a year earlier, down from 6.2% in August, according to the Zambia Statistics Agency (ZamStats). Food inflation was 5.8% and non-food inflation 6.6%.

Food and non-alcoholic drink prices had risen 14.6% in the year to September 2025, according to The Monthly, September 2026, so the food rate is lower than a year earlier. ZamStats publishes the index each month with figures for every province. The IMF projects average inflation of 8.0% for 2026, after 13.9% in 2025.

Official sources: ZamStats: Annual inflation, September 2026 · ZamStats: The Monthly, Volume 282, September 2026 (PDF) · IMF DataMapper: Inflation, Zambia

What is the interest rate in Zambia?

The Bank of Zambia's Monetary Policy Rate is 10.75%, effective from 30 September 2026, according to the Bank of Zambia. The Bank cut the rate by 250 basis points from 13.25%.

Earlier in 2026 the rate was cut from 14.25% to 13.5% in February and to 13.25% in May. The Monetary Policy Rate is the Bank's main signal for the cost of borrowing in the economy. The Bank of Zambia lists the next scheduled announcement for 27 November.

Official sources: Bank of Zambia: Monetary Policy Rate data

What is the GDP growth rate of Zambia?

Zambia's real GDP grew by 5.4% in 2025, up from 3.8% in 2024, according to the final annual estimates in The Monthly, September 2026 from the Zambia Statistics Agency (ZamStats). In the second quarter of 2026, GDP was 7.2% higher than a year earlier.

Agriculture, forestry and fishing grew by 35.3% in 2025, after falling in each of the three previous years, and added 1.5 percentage points to growth. Mining and quarrying grew 8.7%. The IMF World Economic Outlook (October 2026) shows 3.8% for 2025 and projects 5.6% for 2026; its 2025 figure predates the ZamStats final estimate.

Official sources: ZamStats: The Monthly, Volume 282, September 2026 (PDF) · IMF DataMapper: Real GDP growth, Zambia

What is the GDP per capita of Zambia?

Zambia's GDP per person was about US$1,310 in 2025, according to the IMF World Economic Outlook (October 2026), which projects about US$1,882 for 2026. The World Bank gives US$1,318 for 2025.

In kwacha, ZamStats puts 2025 GDP at K797.7 billion at current prices, up from K663.8 billion in 2024. Dollar figures depend heavily on the kwacha's exchange rate, so they can change sharply from year to year even when output changes little.

Official sources: IMF DataMapper: GDP per capita, Zambia · World Bank: GDP per capita (current US$), Zambia · ZamStats: The Monthly, Volume 282, September 2026 (PDF)

How fast is Zambia's economy growing?

In 2025, real GDP growth in Zambia was 3.8%, according to the World Bank. The peak was 10.3% in 2010 and the low -2.8% in 2020. It is 29th highest of 46 in Sub-Saharan Africa, where the median is 4.6%. Of 180 countries with 2025 data, 76th highest.

How rich is Zambia per person?

According to the World Bank, GDP per person in Zambia was $1,318 in 2025. The peak was $1,821 in 2013 and the low $711 in 2005. Across Sub-Saharan Africa the middle value was $1,351, and Zambia placed 25th highest of 46. World rank, highest first: 159th of 180.

What is Zambia's GDP per capita at PPP?

$4,379 in international dollars: that is GDP per person at purchasing power parity in Zambia for 2025, according to the World Bank. That is the highest since at least 2005. Sub-Saharan Africa median: $4,425 in international dollars; Zambia is 24th highest of 46. World rank, highest first: 154th of 179.

How much does Zambia export?

According to the World Bank, exports of goods and services in Zambia was 35.0% of GDP in 2024. Since 2005 it has ranged from 28.9% of GDP (2008) to 52.2% of GDP (2021). It is 15th highest of 42 in Sub-Saharan Africa, where the median is 27.4% of GDP. Worldwide: 82nd of 162.

Does Zambia earn more abroad than it spends?

-5.5% of GDP: that is the current account balance in Zambia for 2025, according to the IMF, which is a deficit. It is the bottom of the series, which starts in 2005. It is 14th highest of 20 in Sub-Saharan Africa, where the median is -3.6% of GDP. Of 132 countries with 2025 data, 106th highest.

What is FDI in Zambia?

The latest figure from the IMF, for 2025, is 4.5% of GDP. Since 2005 it has ranged from -0.2% of GDP (2022) to 9.4% of GDP (2007). Sub-Saharan Africa median: 2.0% of GDP; Zambia is 15th highest of 46. Of 179 countries with 2025 data, 40th highest.

What are bank lending rates in Zambia?

The latest figure from the IMF, for 2020, is 9.5%. No year since 2005 has been lower. Sub-Saharan Africa median: 12.3%; Zambia is 18th highest of 28. Worldwide: 48th of 109.