Country Snapshot

Population (2019, millions)¹ 17.86
Population Projections (2030, millions)¹ 24.32
Economically active population in agriculture (as % of Economically active population)12, 2019 64.7
Capital Lusaka
Surface Area (km²)² 752,610
Weather¹¹ In Lusaka: Hottest month, October, 18-31°C; coldest month, July, 9-23°C (average daily minimum and maximum); driest month, August, 0 mm average rainfall; wettest month, December, 231 mm average rainfall
Languages³ Official: English – Others: Bembe, Nyanja, Tonga, Lozi, Chewa, Nsenga, Tumbuka, Lunda (North Western), Kaonde, Lala, Lamba, Luvale, Mambwe, Namwanga, Lenje, Bisa and others
Main Religions³ Main:  Protestant and Roman Catholic – Others: Muslim Buddhist, Hindu, Baha’i and none
Time⁴ Central Africa Time (CAT) +0200 UTC
Driving Orientation⁵ Left Side
Internet Country Code⁶ .zm
Country Calling Code +260
Plug, Socket and Voltage⁷ Type C, D and G – 230V/50Hz
Currency Zambian Kwacha (ZMK) – 1/100 = Ngwee
Exchange Rate (As of 17 February 2019, per USD)⁸ 11.87 (buy rate)
GDP at Market Prices (2018, current, billions of USD)⁹ 26.72
GDP Growth (2018, annual %)⁹ 3.39
Average GDP Growth (2014-2018, annual %)⁹ 3.71
GDP per Capita, PPP (2018, current international $)⁹ 4,216
Inflation, Consumer Prices (2018, annual %)⁹ 7.49
Average Inflation, Consumer Prices (2014-2018, annual %)⁹ 9.97
Total Reserves in Months of Imports (2018)⁹ 1.77

Sources:
¹United Nations Population Division, Department of Economic and Social Affairs.
²COMESA Statistics, COMESTAT Data Hub.
³CIA World Factbook.
⁴Time and Date Portal.
⁵Chartsbin Portal, “Worldwide Driving Orientation by Country”.
⁶Wikipedia, “List of Internet top-level domains”; and, Internet Assigned Numbers Authority, Root Zone Database.
⁷International Electrotechnical Commission, World Plugs.
⁸Bank of Zambia.  ⁹World Bank, World Development Indicators 2019.
¹¹Economist Intelligence Unit.
¹²AFDB Socioeconomic Database.

Reasons to Invest in Zambia

Source: Zambia Development Agency – ZDA Online Portal

Population

Population Projections (millions)

Population (2019) 17.86
Population Projections (2030) 24.32

Source: United Nations Population Division, Department of Economic and Social Affairs.

Population Residing in Urban Areas (%)

Population Projections (2019) 44.07
Percentage of Population Residing in Urban Areas (2030) 50.47

Source: United Nations Population Division, Department of Economic and Social Affairs.

Youth Literacy Rates (2017, %)

Youth Literacy Rate, Population 15-24 Years, Both Sexes 92.09
Youth Literacy Rate, Population 15-24 Years, Female 91.62
Youth Literacy Rate, Population 15-24 Years, Male 92.55

Source: United Nations Educational, Scientific and Cultural Organization, UNESCO Institute of Statistics.

Labour

Unemployment (2018, % of Total Labour Force)

Unemployment, Total 7.2
Unemployment, Female 6.94
Unemployment, Male 7.45

Source: World Bank, World Development Indicators 2019.

Labour Force (2017, % of Ages 15+)

Labour Force Participation Rate, Total 75.18
Labour Force Participation Rate, Female 70.75
Labour Force Participation Rate, Male 79.79
Labour Force, Total (number) 7,183,708

Source: World Bank, World Development Indicators 2019.

Economy Overview

GDP

2014 2015 2016 2017 2018
GDP at Market Prices (current, billions of USD) 27.15 21.15 20.95 25.86 27.72
GDP Growth (annual %) 4.69 2.91 3.75 3.40 3.79

Source: World Bank, World Development Indicators 2019.

Value Added by Sector (% of GDP)

Indicator 2018 2019
Agriculture 8.40 8.00
Manufacturing 9.00 9.23
Industry 42.68 42.95
Services 67.92 68.05
Construction 11.85 12.28
Electricity, gas and water 3.64 3.91
Mining and quarrying 18.19 17.52
Education 9.32 9.35
Finance, real estate and business services 13.07 13.34
Public administration and Defense 5.46 5.38
Health and Social Work 1.58 1.60
Other services 1.05 1.01
Transport, storage and communication 8.67 8.86
Wholesale and retail trade, hotels and restaurants 28.77 28.53

Source: AFDB Socio Economic Database.

Trade Profile

Import Partners (USD ‘000)

2014 2015 2016 2017 2018
World 8,743,863 8,508,280 7,538,333 7,983,284 9,461,739
South Africa 2,808,118 2,619,550 2,418,927 2,457,474 2,726,786
Congo DR 1,337,463 953,320 988,654 1,012,481 1,393,726
China 795,878 693,617 600,007 1,121,235 1,290,683
United Arab Emirates 229,385 175,970 316,736 468,048 595,662
India 377,616 366,078 316,681 246,259 442,583

Source: COMTRADE Statistics.

Export Partners (USD ‘000)

2014 2015 2016 2017 2018
World 8,870,290 7,037,729 6,508,418 8,006,790 9,052,165
Switzerland 3,019,192 2,786,745 2,485,776 3,542,071 3,808,387
China 1,363,442 992,686 1,208,581 1,329,585 1,307,810
Singapore 350,098 550,128 368,776 493,961 699,742
Congo DR 615,049 451,327 351,165 435,404 686,646
South Africa 579,164 501,301 362,140 390,634 437,056

Source: COMTRADE Statistics.

Zambia’s Top Import Products (USD ‘000)

Chapter Description 2014 2015 2016 2017 2018
All products 8,743,863 8,508,280 7,538,333 7,983,284 9,461,739
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 1,187,399 962,222 836,162 1,130,273 1,389,831
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 1,314,665 1,666,738 1,670,863 1,340,717 1,339,757
26 Ores, slag and ash 1,307,533 616,920 701,738 949,660 1,271,425
87 Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof 726,435 549,163 434,248 481,016 803,435
85 Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles 846,641 841,865 865,899 444,426 589,145

Source: COMTRADE Statistics.

Zambia’s Top Export Products (USD ‘000)

Chapter Description 2014 2015 2016 2017 2018
All products 8,870,290 7,037,729 6,508,418 8,006,790 9,052,165
74 Copper and articles thereof 6,594,543 5,193,686 4,555,866 6,158,724 6,807,039
28 Inorganic chemicals: organic or inorganic compounds of precious metals, of rare-earth metals, of radioactive elements or of isotopes 267,891 84,032 64,160 96,209 200,213
49 Books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 25,584 54,572 67,654 120,855 191,855
25 Salt; sulphur; earths and stone; plastering material, lime and cement 125,661 105,262 179,375 157,236 190,543
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 115,544 68,470 102,226 79,927 126,413

Source: COMTRADE Statistics.

Investment Profile

FDI Inflows (millions of USD)

Year 2014 2015 2016 2017 2018
FDI Inflows 1,489 1,305 663 1,108 569

Source: United Nations Conference on Trade and Development, World Investment Report 2019

FDI Outflows Stock (millions of USD)

Year 2014 2015 2016 2017 2018
FDI Outflows (1,706.1) 125.1 176.7 (72.0) 32.2

Source: United Nations Conference on Trade and Development, World Investment Report 2019

FDI Inward Stock (millions of USD)

Year 2014 2015 2016 2017 2018
FDI Inward Stock 16,149 16,488 18,855 19,866 20,435

Source: United Nations Conference on Trade and Development, World Investment Report 2019

FDI Outward Stock (millions of USD)

Year 2014 2015 2016 2017 2018
FDI Outward Stock 2,417 1,457 1,625 1,553 1,585

Source: United Nations Conference on Trade and Development, World Investment Report 2019

FDI Inflows Main Source Countries (in terms of number of projects)

South Africa, China, UK, India, Canada, United States, Botswana, Australia, Togo, and France.

Source: Financial Times, fDi Markets, 2018

FDI Inflows Main Sectors (in terms of number of projects)

Metals, Financial Services, Food and Tobacco, Communications, Business Services, Industrial Machinery, Equipment and Tools, Chemicals, Building and Construction Materials, Transportation, and Renewable energy.

Source: Financial Times, fDi Markets, 2018

FDI Inflows Main Companies (in terms of number of projects)

Konkola Copper Mine, First Quantum Minerals, First National Bank Zambia, Ecobank Zambia, Liquid Telecom Zambia, BancABC Zambia, MTN Zambia, Pick n Pay, Shoprite, and China Nonferrous Metals Mining (CNMC).

Source: Financial Times, fDi Markets, 2018

Doing Business

Overall Doing Business Ranking

2020 85/190
2019 87/190

Source: World Bank, Doing Business, 2020

Starting a Business

2020 Rank 117/190
Procedures (number) 7
Time (days) 8.5
Cost (% of income per capita*) 34.0
Paid-in Minimum Capital (% of income per capita*) 0.0

*GNI per capita used: USD 280
Source: World Bank, Doing Business, 2020

Paying Taxes

Paying Taxes

2020 Rank 17/190
Payments (number per year) 11
Time (hours per year) 158
Total Tax Rate (% of profit) 15.6
Profit Tax (% of profit) 2.0
Labor Tax and Contributions (% of profit) 10.4
Other Taxes (% of profit) 3.1

Source: World Bank, Doing Business, 2020

Trading Across Borders

2020 Rank 155/190
Time to Export: Border Compliance (hours) 120
Cost to Export: Border Compliance (USD) 370
Time to Export: Documentary Compliance (hours) 96
Cost to Export: Documentary Compliance (USD) 200
Time to Import: Border Compliance (hours) 120
Cost to Import: Border Compliance (USD) 380
Time to Import: Documentary Compliance (hours) 72
Cost to Import: Documentary Compliance (USD) 175

Assumptions

Source: World Bank, Doing Business, 2020

Investment Regime

Legal Framework

Investment Code – The Zambia Development Agency (ZDA) Act of 2006.
Key guarantees in terms of investment protection include:

Source: United Nations Conference on Trade and Development, iGuide Zambia.

Investment Incentives

General Incentives

Capital allowances

Agriculture

Manufacturing

Tourism

Source: Deloitte, Guide to Fiscal Information, Key Economies in Africa 2018 and KPMG, Zambia Fiscal Guide 2017/18.

Country Snapshot

Population (2019, millions)¹ 17.86
Population Projections (2030, millions)¹ 24.32
Economically active population in agriculture (as % of Economically active population)12, 2019 64.7
Capital Lusaka
Surface Area (km²)² 752,610
Weather¹¹ In Lusaka: Hottest month, October, 18-31°C; coldest month, July, 9-23°C (average daily minimum and maximum); driest month, August, 0 mm average rainfall; wettest month, December, 231 mm average rainfall
Languages³ Official: English – Others: Bembe, Nyanja, Tonga, Lozi, Chewa, Nsenga, Tumbuka, Lunda (North Western), Kaonde, Lala, Lamba, Luvale, Mambwe, Namwanga, Lenje, Bisa and others
Main Religions³ Main:  Protestant and Roman Catholic – Others: Muslim Buddhist, Hindu, Baha’i and none
Time⁴ Central Africa Time (CAT) +0200 UTC
Driving Orientation⁵ Left Side
Internet Country Code⁶ .zm
Country Calling Code +260
Plug, Socket and Voltage⁷ Type C, D and G – 230V/50Hz
Currency Zambian Kwacha (ZMK) – 1/100 = Ngwee
Exchange Rate (As of 17 February 2019, per USD)⁸ 11.87 (buy rate)
GDP at Market Prices (2018, current, billions of USD)⁹ 26.72
GDP Growth (2018, annual %)⁹ 3.39
Average GDP Growth (2014-2018, annual %)⁹ 3.71
GDP per Capita, PPP (2018, current international $)⁹ 4,216
Inflation, Consumer Prices (2018, annual %)⁹ 7.49
Average Inflation, Consumer Prices (2014-2018, annual %)⁹ 9.97
Total Reserves in Months of Imports (2018)⁹ 1.77

Sources:
¹United Nations Population Division, Department of Economic and Social Affairs.
²COMESA Statistics, COMESTAT Data Hub.
³CIA World Factbook.
⁴Time and Date Portal.
⁵Chartsbin Portal, “Worldwide Driving Orientation by Country”.
⁶Wikipedia, “List of Internet top-level domains”; and, Internet Assigned Numbers Authority, Root Zone Database.
⁷International Electrotechnical Commission, World Plugs.
⁸Bank of Zambia.  ⁹World Bank, World Development Indicators 2019.
¹¹Economist Intelligence Unit.
¹²AFDB Socioeconomic Database.

Reasons to Invest in Zambia

Source: Zambia Development Agency – ZDA Online Portal

Population

Population Projections (millions)

Population (2019) 17.86
Population Projections (2030) 24.32

Source: United Nations Population Division, Department of Economic and Social Affairs.

Population Residing in Urban Areas (%)

Population Projections (2019) 44.07
Percentage of Population Residing in Urban Areas (2030) 50.47

Source: United Nations Population Division, Department of Economic and Social Affairs.

Youth Literacy Rates (2017, %)

Youth Literacy Rate, Population 15-24 Years, Both Sexes 92.09
Youth Literacy Rate, Population 15-24 Years, Female 91.62
Youth Literacy Rate, Population 15-24 Years, Male 92.55

Source: United Nations Educational, Scientific and Cultural Organization, UNESCO Institute of Statistics.

Labour

Unemployment (2018, % of Total Labour Force)

Unemployment, Total 7.2
Unemployment, Female 6.94
Unemployment, Male 7.45

Source: World Bank, World Development Indicators 2019.

Labour Force (2017, % of Ages 15+)

Labour Force Participation Rate, Total 75.18
Labour Force Participation Rate, Female 70.75
Labour Force Participation Rate, Male 79.79
Labour Force, Total (number) 7,183,708

Source: World Bank, World Development Indicators 2019.

Economy Overview

GDP

2014 2015 2016 2017 2018
GDP at Market Prices (current, billions of USD) 27.15 21.15 20.95 25.86 27.72
GDP Growth (annual %) 4.69 2.91 3.75 3.40 3.79

Source: World Bank, World Development Indicators 2019.

Value Added by Sector (% of GDP)

Indicator 2018 2019
Agriculture 8.40 8.00
Manufacturing 9.00 9.23
Industry 42.68 42.95
Services 67.92 68.05
Construction 11.85 12.28
Electricity, gas and water 3.64 3.91
Mining and quarrying 18.19 17.52
Education 9.32 9.35
Finance, real estate and business services 13.07 13.34
Public administration and Defense 5.46 5.38
Health and Social Work 1.58 1.60
Other services 1.05 1.01
Transport, storage and communication 8.67 8.86
Wholesale and retail trade, hotels and restaurants 28.77 28.53

Source: AFDB Socio Economic Database.

Trade Profile

Import Partners (USD ‘000)

2014 2015 2016 2017 2018
World 8,743,863 8,508,280 7,538,333 7,983,284 9,461,739
South Africa 2,808,118 2,619,550 2,418,927 2,457,474 2,726,786
Congo DR 1,337,463 953,320 988,654 1,012,481 1,393,726
China 795,878 693,617 600,007 1,121,235 1,290,683
United Arab Emirates 229,385 175,970 316,736 468,048 595,662
India 377,616 366,078 316,681 246,259 442,583

Source: COMTRADE Statistics.

Export Partners (USD ‘000)

2014 2015 2016 2017 2018
World 8,870,290 7,037,729 6,508,418 8,006,790 9,052,165
Switzerland 3,019,192 2,786,745 2,485,776 3,542,071 3,808,387
China 1,363,442 992,686 1,208,581 1,329,585 1,307,810
Singapore 350,098 550,128 368,776 493,961 699,742
Congo DR 615,049 451,327 351,165 435,404 686,646
South Africa 579,164 501,301 362,140 390,634 437,056

Source: COMTRADE Statistics.

Zambia’s Top Import Products (USD ‘000)

Chapter Description 2014 2015 2016 2017 2018
All products 8,743,863 8,508,280 7,538,333 7,983,284 9,461,739
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 1,187,399 962,222 836,162 1,130,273 1,389,831
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 1,314,665 1,666,738 1,670,863 1,340,717 1,339,757
26 Ores, slag and ash 1,307,533 616,920 701,738 949,660 1,271,425
87 Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof 726,435 549,163 434,248 481,016 803,435
85 Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles 846,641 841,865 865,899 444,426 589,145

Source: COMTRADE Statistics.

Zambia’s Top Export Products (USD ‘000)

Chapter Description 2014 2015 2016 2017 2018
All products 8,870,290 7,037,729 6,508,418 8,006,790 9,052,165
74 Copper and articles thereof 6,594,543 5,193,686 4,555,866 6,158,724 6,807,039
28 Inorganic chemicals: organic or inorganic compounds of precious metals, of rare-earth metals, of radioactive elements or of isotopes 267,891 84,032 64,160 96,209 200,213
49 Books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 25,584 54,572 67,654 120,855 191,855
25 Salt; sulphur; earths and stone; plastering material, lime and cement 125,661 105,262 179,375 157,236 190,543
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 115,544 68,470 102,226 79,927 126,413

Source: COMTRADE Statistics.

Investment Profile

FDI Inflows (millions of USD)

Year 2014 2015 2016 2017 2018
FDI Inflows 1,489 1,305 663 1,108 569

Source: United Nations Conference on Trade and Development, World Investment Report 2019

FDI Outflows Stock (millions of USD)

Year 2014 2015 2016 2017 2018
FDI Outflows (1,706.1) 125.1 176.7 (72.0) 32.2

Source: United Nations Conference on Trade and Development, World Investment Report 2019

FDI Inward Stock (millions of USD)

Year 2014 2015 2016 2017 2018
FDI Inward Stock 16,149 16,488 18,855 19,866 20,435

Source: United Nations Conference on Trade and Development, World Investment Report 2019

FDI Outward Stock (millions of USD)

Year 2014 2015 2016 2017 2018
FDI Outward Stock 2,417 1,457 1,625 1,553 1,585

Source: United Nations Conference on Trade and Development, World Investment Report 2019

FDI Inflows Main Source Countries (in terms of number of projects)

South Africa, China, UK, India, Canada, United States, Botswana, Australia, Togo, and France.

Source: Financial Times, fDi Markets, 2018

FDI Inflows Main Sectors (in terms of number of projects)

Metals, Financial Services, Food and Tobacco, Communications, Business Services, Industrial Machinery, Equipment and Tools, Chemicals, Building and Construction Materials, Transportation, and Renewable energy.

Source: Financial Times, fDi Markets, 2018

FDI Inflows Main Companies (in terms of number of projects)

Konkola Copper Mine, First Quantum Minerals, First National Bank Zambia, Ecobank Zambia, Liquid Telecom Zambia, BancABC Zambia, MTN Zambia, Pick n Pay, Shoprite, and China Nonferrous Metals Mining (CNMC).

Source: Financial Times, fDi Markets, 2018

Doing Business

Overall Doing Business Ranking

2020 85/190
2019 87/190

Source: World Bank, Doing Business, 2020

Starting a Business

2020 Rank 117/190
Procedures (number) 7
Time (days) 8.5
Cost (% of income per capita*) 34.0
Paid-in Minimum Capital (% of income per capita*) 0.0

*GNI per capita used: USD 280
Source: World Bank, Doing Business, 2020

Paying Taxes

Paying Taxes

2020 Rank 17/190
Payments (number per year) 11
Time (hours per year) 158
Total Tax Rate (% of profit) 15.6
Profit Tax (% of profit) 2.0
Labor Tax and Contributions (% of profit) 10.4
Other Taxes (% of profit) 3.1

Source: World Bank, Doing Business, 2020

Trading Across Borders

2020 Rank 155/190
Time to Export: Border Compliance (hours) 120
Cost to Export: Border Compliance (USD) 370
Time to Export: Documentary Compliance (hours) 96
Cost to Export: Documentary Compliance (USD) 200
Time to Import: Border Compliance (hours) 120
Cost to Import: Border Compliance (USD) 380
Time to Import: Documentary Compliance (hours) 72
Cost to Import: Documentary Compliance (USD) 175

Assumptions

Source: World Bank, Doing Business, 2020

Investment Regime

Legal Framework

Investment Code – The Zambia Development Agency (ZDA) Act of 2006.
Key guarantees in terms of investment protection include:

Source: United Nations Conference on Trade and Development, iGuide Zambia.

Investment Incentives

General Incentives

Capital allowances

Agriculture

Manufacturing

Tourism

Source: Deloitte, Guide to Fiscal Information, Key Economies in Africa 2018 and KPMG, Zambia Fiscal Guide 2017/18.