Zàmbia: Visió econòmica i política
Zambia is open to foreign trade, which accounts for 86% of the country's GDP (World Bank, 2021). Zambia's trade policy aims to diversify its economy through privatisation programs and the expansion of its export base. The country mainly exports copper (75%), ferro-alloys (1.5%), electrical energy (1.3%), cement (1.3%), waters (1.2%). As for the country's main imports, they include petroleum oils (8.4%), mineral or chemical fertilisers (3.9%), medicaments (3.4%), copper ores (3.1%), and motor vehicles (3%).
The country is a member of COMESA and has signed Interim Economic Partnership Agreements (Interim EPAs) with the European Commission. The country became a member of the WTO in 1995. Customs duties are high, but the country has few non-tariff trade barriers. Certain products such as crude oil, medical supplies, and fertilisers are exempt from import duties. However, irregularities in the tax system and high transportation costs are real trade barriers. Zambian products are oriented towards Switzerland, China, Singapore, the Democratic Republic of Congo, and South Africa, while the country mainly imports from South Africa, China, India, the United Arab Emirates, and the Democratic Republic of Congo.
Zambia's trade balance has been experiencing a structural surplus in recent years. In 2021, exports of goods amounted to USD 11.1 billion, while imports reached USD 7 billion, resulting in a trade balance of USD 4.8 billion. As for services, exports reached USD 501 million, while imports amounted to USD 1.2 billion, amounting to a trade balance of USD 4 billion (WTO).
Foreign Trade Values | 2017 | 2018 | 2019 | 2020 | 2021 |
Imports of Goods (million USD) | 7,983 | 9,466 | 7,180 | 5,323 | 7,096 |
Exports of Goods (million USD) | 8,007 | 9,034 | 7,047 | 7,819 | 11,141 |
Imports of Services (million USD) | 1,467 | 1,616 | 1,474 | 1,150 | 1,278 |
Exports of Services (million USD) | 865 | 953 | 1,012 | 554 | 501 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2017 | 2018 | 2019 | 2020 | 2021 |
Foreign Trade (in % of GDP) | 71.6 | 74.9 | 68.8 | 79.3 | 86.0 |
Trade Balance (million USD) | 960 | 514 | 744 | 3,216 | 4,816 |
Trade Balance (Including Service) (million USD) | 351 | -210 | 222 | 1,510 | 4,015 |
Imports of Goods and Services (in % of GDP) | 36.6 | 36.9 | 34.2 | 32.5 | 33.9 |
Exports of Goods and Services (in % of GDP) | 35.0 | 38.0 | 34.6 | 46.8 | 52.1 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2022 | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | -3.2 | 6.9 | 6.3 | 6.1 | 10.9 |
Volume of imports of goods and services (Annual % change) | 15.1 | 11.5 | 2.3 | 7.7 | 9.6 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Main Customers (% of Exports) |
2021 |
Switzerland | 42.1% |
China | 18.9% |
Singapore | 13.5% |
Democratic Republic of Congo | 9.7% |
South Africa | 2.6% |
See More Countries | 13.2% |
Main Suppliers (% of Imports) |
2021 |
South Africa | 31.3% |
China | 12.6% |
India | 6.3% |
United Arab Emirates | 5.7% |
Democratic Republic of Congo | 4.6% |
See More Countries | 39.5% |
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import Export Flows.
0.9 bn USD of services exported in 2017 | |
75.44% | |
Business travelBusiness travel | 42.78% |
OtherOther | 42.78% |
Personal travelPersonal travel | 32.67% |
OtherOther | 32.67% |
9.86% | |
ReinsuranceReinsurance | 8.72% |
5.64% | |
4.28% | |
Telecommunications servicesTelecommunications services | 4.28% |
4.10% | |
Other personal, cultural, and...Other personal, cultural, and recreational services | 4.10% |
0.66% | |
Merchanting and other trade-related...Merchanting and other trade-related services | 0.66% |
Other trade-related servicesOther trade-related services | 0.66% |
1.5 bn USD of services imported in 2017 | |
58.95% | |
14.82% | |
Business travelBusiness travel | 10.37% |
Personal travelPersonal travel | 4.44% |
8.28% | |
ReinsuranceReinsurance | 5.28% |
Life insurance and pension fundingLife insurance and pension funding | 0.03% |
3.86% | |
3.78% | |
Miscellaneous business,...Miscellaneous business, professional, and technical services | 3.78% |
3.26% | |
Construction in the compiling...Construction in the compiling economy | 3.26% |
3.04% | |
Telecommunications servicesTelecommunications services | 3.04% |
2.64% | |
0.96% | |
0.27% | |
Other personal, cultural, and...Other personal, cultural, and recreational services | 0.27% |
0.15% |
Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: May 2023