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    Zambia Economy - 2004
    https://immigration-usa.com/wfb2004/zambia/zambia_economy.html
    SOURCE: 2004 CIA WORLD FACTBOOK

      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 (2003 est.)

      GDP - real growth rate:
      4% (2003 est.)

      GDP - per capita:
      purchasing power parity - $800 (2003 est.)

      GDP - composition by sector:
      agriculture: 14.9%
      industry: 27.6%
      services: 57.6% (2001)

      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):
      21.5% (2003 est.)

      Labor force:
      4.29 million (2000)

      Labor force - by occupation:
      agriculture 85%, industry 6%, services 9%

      Unemployment rate:
      50% (2000 est.)

      Budget:
      revenues: $1.2 billion
      expenditures: $1.25 billion, including capital expenditures of $NA (2001 est.)

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

      Industrial production growth rate:
      4% (2003 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

      Oil - imports:
      NA

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

      Exports:
      $1.039 billion f.o.b. (2003 est.)

      Exports - commodities:
      copper 55%, cobalt, electricity, tobacco, flowers, cotton

      Exports - partners:
      South Africa 27.8%, Malawi 8.5%, Thailand 7.6%, Japan 7.5%, Saint Pierre and Miquelon 7.5%, China 5.2%, Egypt 5.2%, Netherlands 4.6% (2002)

      Imports:
      $1.128 billion f.o.b. (2003 est.)

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

      Imports - partners:
      South Africa 69.4%, US 3.3%, China 3.2% (2002)

      Debt - external:
      $5.2 billion (2003)

      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


      NOTE: The information regarding Zambia on this page is re-published from the 2004 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Zambia Economy 2004 information contained here. All suggestions for corrections of any errors about Zambia Economy 2004 should be addressed to the CIA.

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    https://immigration-usa.com/wfb2004/zambia/zambia_economy.html

    Revised 21-May-04
    Copyright © 2004 Photius Coutsoukis (all rights reserved)


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