What is the average GDP of Zambia?
GDP per capita in Zambia is expected to reach 1260.00 USD by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the Zambia GDP per capita is projected to trend around 1280.00 USD in 2022 and 1300.00 USD in 2023, according to our econometric models.
Is Zambia a poor country 2021?
Poverty is expected to increase slightly in 2021 by 0.2 percentage points to 60.3 percent, reflecting COVID-19 impacts. Economic activity will gradually pick up, averaging 3.8 percent over 2022-25.
Is Zambia the richest country in the world?
Despite copper wealth, Zambia still remains one of the world’s poorest nations. Zambia is one of the world’s richest nations, as long as you measure wealth by natural resources. The country in south-central Africa is the continent’s biggest copper producer.
Is Zambia a rich country 2021?
In October 2021, to spur economic development, Zambia took measures to promote local development in its ambitious 2022 national budget….Economy of Zambia.
| Statistics | |
|---|---|
| GDP | $26.67 billion (nominal, 2022 est.) $75.690 billion (PPP, 2022 est.) |
| GDP growth | 1.4% (2019) -2.8% (2020e) 4.3% (2021e) 3.1% (2022e) |
What is Zambia’s GDP 2021?
24.00 USD Billion
GDP in Zambia is expected to reach 24.00 USD Billion by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the Zambia GDP is projected to trend around 27.00 USD Billion in 2022, according to our econometric models.
How is Zambia’s economy?
The economy of Zambia fell into a deep recession due the adverse impact of the COVID–19 pandemic. Real GDP contracted by an estimated 4.9% in 2020, after growing by 4.0% in 2018 and 1.9% in 2019. The output contraction is the result of an unprecedented deterioration in all the key sectors of the economy.
Why is Zambia rich?
The country ranks as Africa’s second and the world’s tenth largest copper producer. In addition, the country has a wealth of water resources – which it exploits to generate over 80% of the country’s electricity as hydropower – and high agricultural potential.
How is GDP calculated in Zambia?
GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.