Republic Of Zambia

United Nations Development Programme Zambia

Ministry for Foreign Affairs of Finland

Economic Growth

Zambian Government preliminary estimates for 2012 are that the real Gross Domestic Product (GDP) grew by 7.3% compared with 6.8% in 2011.

Robust, consistent economic growth and single digit inflation but…

Consistent with positive economic growth rates has been an improvement in real GDP per capita, which rose to an estimated US$1,500.0 in 2012 from US$1,463.0 the previous year. Analysts suggest that the outlook for the Zambian economy remains favourable in the medium term, underpinned by robust growth and single-digit inflation.

Their estimates for the economy project a 6.9% growth in 2012, picking up to 7.3% in 2013, while inflation should remain in single digits, at 8.0% and 8.5% respectively. Zambia advance from a low to a middle income country status in 2011. It is also significant, that Zambia attained for the first time ever in 201a sovereign credit rating. Rating institutions Fitch and Standard & Poor's awarded Zambia a B+ rating placing it in a rare category among its southern African peers, just behind South Africa and Botswana. In 2012 on the back of these developments, GRZ successfully floated in the international markets the country's first ever sovereign bond valued USD 750 million for 10 years.

GDP growth rates and poverty incidence trends, 1996-2010
Source: Based on CSO data files and CSO (2006, 2011)

GDP growth rates and poverty incidence trends, 1996-2010