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Zambia

Zambia  Zambia Zambia Zambia

The territory of Northern Rhodesia was administered by the [British] South Africa Company from 1891 until it was taken over by the UK in 1923. During the 1920s and 1930s, advances in mining spurred development and immigration. The name was changed to Zambia upon independence in 1964. In the 1980s and 1990s, declining copper prices, economic mismanagement, and a prolonged drought hurt the economy. Elections in 1991 brought an end to one-party rule and propelled the Movement for Multiparty Democracy (MMD) to government. The subsequent vote in 1996, however, saw increasing harassment of opposition parties and abuse of state media and other resources.

The election in 2001 was marked by administrative problems, with three parties filing a legal petition challenging the election of ruling party candidate Levy MWANAWASA. MWANAWASA was reelected in 2006 in an election that was deemed free and fair. Upon his death in August 2008, he was succeeded by his vice president, Rupiah BANDA, who won a special presidential by-election later that year. The MMD and BANDA lost to the Patriotic Front (PF) and Michael SATA in the 2011 general elections. SATA, however, presided over a period of haphazard economic management and attempted to silence opposition to PF policies. SATA died in October 2014 and was succeeded by his vice president, Guy SCOTT, who served as interim president until special elections were held in January 2015. Edgar LUNGU won the presidential by-election and will complete SATA’s term, which expires in late 2016.

Zambia has had one of the world’s fastest growing economies for the past ten years, with real GDP growth averaging roughly 6.7% per annum. Privatization of government-owned copper mines in the 1990s relieved the government from covering mammoth losses generated by the industry and greatly increased copper mining output and profitability, spurring economic growth. Copper output increased steadily from 2004, due to higher copper prices and foreign investment, but weakened in 2014 when Zambia was overtaken as Africa’s largest copper producer by the Democratic Republic of Congo. Zambia’s dependency on copper makes it vulnerable to depressed commodity prices, but record high copper prices and a bumper maize crop in 2010 helped Zambia rebound quickly from the world economic slowdown that began in 2008.

Despite strong economic growth and its status as a lower middle-income country, widespread and extreme rural poverty and high unemployment levels remain significant problems, made worse by a high birth rate, a relatively high HIV/AIDS burden, and by market-distorting agricultural policies. Economic policy inconsistency and poor budget execution in recent years has hindered the economy and contributed to weakness in the kwacha, which has been Africa’s worst performing currency during the past year.

Zambia has raised $1.75 billion from international investors by issuing separate sovereign bonds in September 2012 and April 2014, significantly increasing the country’s public debt as a share of GDP. On January 1, 2015, a new mineral royalty tax regime dramatically increased mining taxes, and has led to an economic impasse between the government and the mines. If the new tax is left intact, it could result in the closure of less profitable mines, the loss of thousands of jobs and could stifle Zambia’s ability to attract additional foreign investment.

Zambia GDP (purchasing power parity):
$61.79 billion (2014 est.)
$58.03 billion (2013 est.)
$54.39 billion (2012 est.)
note: data are in 2014 US dollars
* country comparison to the world: 100

Zambia GDP (official exchange rate):
$25.61 billion (2014 est.)

Zambia GDP – real growth rate:
6.5% (2014 est.)
6.7% (2013 est.)
6.8% (2012 est.)
* country comparison to the world: 25

Zambia GDP – per capita (PPP):
$4,100 (2014 est.)
$4,000 (2013 est.)
$3,900 (2012 est.)
note: data are in 2013 US dollars
* country comparison to the world: 177

Zambia Gross national saving:
33.8% of GDP (2014 est.)
34.3% of GDP (2013 est.)
37.3% of GDP (2012 est.)
* country comparison to the world: 18

Zambia GDP – composition, by end use:
household consumption: 51.7%
government consumption: 21.2%
investment in fixed capital: 26.1%
investment in inventories: 0.3%
exports of goods and services: 44.3%
imports of goods and services: -43.6%
(2014 est.)

Zambia GDP – composition, by sector of origin:
agriculture: 10.8%
industry: 32.9%
services: 56.3%
(2014 est.)

Zambia Agriculture – products:
corn, sorghum, rice, peanuts, sunflower seeds, vegetables, flowers, tobacco, cotton, sugarcane, cassava (manioc, tapioca), coffee; cattle, goats, pigs, poultry, milk, eggs, hides

Zambia Industries:
copper mining and processing, emerald mining, construction, foodstuffs, beverages, chemicals, textiles, fertilizer, horticulture

Zambia Industrial production growth rate:
3.6% (2014 est.)
* country comparison to the world: 80

Zambia Labor force:
6.338 million (2014 est.)
* country comparison to the world: 66

Zambia Labor force – by occupation:
agriculture: 85%
industry: 6%
services: 9% (2004)

Zambia Unemployment rate:
15% (2008 est.)
50% (2000 est.)
* country comparison to the world: 144

Population below poverty line:
60.5% (2010)

Household income or consumption by percentage share:
lowest 10%: 1.5%
highest 10%: 47.4% (2010)

Distribution of family income – Gini index:
57.5 (2010)
50.8 (2004)
* country comparison to the world: 9

Budget:
revenues: $5.233 billion
expenditures: $6.751 billion (2014 est.)

Taxes and other revenues:
20.4% of GDP (2014 est.)
* country comparison to the world: 158

Budget surplus (+) or deficit (-):
-5.9% of GDP (2014 est.)
* country comparison to the world: 182

Public debt:
37.3% of GDP (2014 est.)
31.6% of GDP (2013 est.)
* country comparison to the world: 102

Fiscal year:
calendar year

Inflation rate (consumer prices):
7.8% (2014 est.)
7% (2013 est.)

Central bank discount rate:
8.39% (31 December 2009)
14.49% (31 December 2008)
* country comparison to the world: 33

Commercial bank prime lending rate:
14% (31 December 2014 est.)
9.52% (31 December 2013 est.)
* country comparison to the world: 48

Stock of narrow money:
$2.466 billion (31 December 2014 est.)
$2.369 billion (31 December 2013 est.)
* country comparison to the world: 124

Stock of broad money:
$5.682 billion (31 December 2014 est.)
$5.437 billion (31 December 2013 est.)
* country comparison to the world: 125

Stock of domestic credit:
$5.325 billion (31 December 2014 est.)
$5.155 billion (31 December 2013 est.)
* country comparison to the world: 120

Market value of publicly traded shares:
$3.004 billion (31 December 2012 est.)
$4.009 billion (31 December 2011)
$2.817 billion (31 December 2010 est.)
* country comparison to the world: 94

Current account balance:
-$1.7 million (2014 est.)
-$224.6 million (2013 est.)
* country comparison to the world: 63

Exports:
$9.214 billion (2014 est.)
$8.908 billion (2013 est.)
* country comparison to the world: 98

Exports – partners:
China 38.7%, South Africa 11.6%, Democratic Republic of the Congo 10.5%, Zimbabwe 6.2% (2013)

Exports – commodities:
copper/cobalt, cobalt, electricity; tobacco, flowers, cotton

Imports:
$8.081 billion (2014 est.)
$7.762 billion (2013 est.)
* country comparison to the world: 111

Imports – commodities:
machinery, transportation equipment, petroleum products, electricity, fertilizer, foodstuffs, clothing

Imports – partners:
South Africa 36%, Democratic Republic of the Congo 15.7%, China 9.5%, Kuwait 6.5%, India 4.5% (2013)

Reserves of foreign exchange and gold:
$3 billion (31 December 2014 est.)
$2.684 billion (31 December 2013 est.)
* country comparison to the world: 110

Debt – external:
$7.384 billion (31 December 2014 est.)
$5.943 billion (31 December 2013 est.)
* country comparison to the world: 115

Stock of direct foreign investment – at home:
$N/A

Stock of direct foreign investment – abroad:
$N/A

Exchange rates:
Zambian kwacha (ZMK) per US dollar –
6.1 (2014 est.)
5.4 (2013 est.)
5.1 (2012 est.)
4,860.7 (2011 est.)
4,797.1 (2010 est.)

Location:
Southern Africa, east of Angola, south of the Democratic Republic of the Congo

Geographic coordinates:
15 00 S, 30 00 E

Map references:
Africa

Area:
total: 752,618 sq km
land: 743,398 sq km
water: 9,220 sq km
* country comparison to the world: 39

Area – comparative:
slightly larger than Texas

Land boundaries:
total: 6,043.15 km
border countries (8): Angola 1,065 km, Botswana 0.15 km, Democratic Republic of the Congo 2,332 km, Malawi 847 km, Mozambique 439 km, Namibia 244 km, Tanzania 353 km, Zimbabwe 763 km

Coastline:
0 km (landlocked)

Maritime claims:
none (landlocked)

Climate:
tropical; modified by altitude; rainy season (October to April)

Terrain:
mostly high plateau with some hills and mountains

Elevation extremes:
lowest point: Zambezi river 329 m
highest point: unnamed elevation in Mafinga Hills 2,301 m

Natural resources:
copper, cobalt, zinc, lead, coal, emeralds, gold, silver, uranium, hydropower

Land use:
arable land: 5.11%
permanent crops: 0.05%
other: 94.84% (2012 est.)

Irrigated land:
1,559 sq km (2003)

Total renewable water resources:
105.2 cu km (2011)

Freshwater withdrawal (domestic/industrial/agricultural):
total: 1.57 cu km/yr (18%/8%/73%)
per capita: 147 cu m/yr (2002)

Natural hazards:
periodic drought; tropical storms (November to April)

Environment – current issues:
air pollution and resulting acid rain in the mineral extraction and refining region; chemical runoff into watersheds; poaching seriously threatens rhinoceros, elephant, antelope, and large cat populations; deforestation; soil erosion; desertification; lack of adequate water treatment presents human health risks

Environment – international agreements:
party to: Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Ozone Layer Protection, Wetlands
signed, but not ratified: none of the selected agreements

Geography – note:
landlocked; the Zambezi forms a natural riverine boundary with Zimbabwe; Lake Kariba on the Zambia-Zimbabwe border forms the world’s largest reservoir by volume (180 cu km; 43 cu mi)

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Zambia
Mr James MuloloSenior Inspector+26-021-1-254130
Zambia
Winnie S DzekedzekeExecutive Assistant wdzekedzeke@necz.org.zm+260 211 254023
Zambia
Mr. Webby SimwayiSenior Inspectorwmsimwayi@gmail.com +260 2 621048
Zambia
Mrs. Patricia ChilaishaChief Inspector Of Factoriespatriciachilaisha@gmail.com+260 0977 854 233
Zambia
Mr. Hilary MicheloZambia Revenue Authoritymicheloh@zra.org.zm +260 966 959 283