THE ZAMBIAN ECONOMY
Population: 14.6 Million
GDP (purchasing power parity): $25.47 Billion
GDP (official exchange rate): $22.24 Billion
GDP – real growth rate: 6.6%
GDP – per capita (PPP): $1,800.00
Inflation – Consumer prices: 6.5%
The Zambian economy continues to exhibit strong growth potential and has been classified as one of the fastest developing and most robust economies in Africa in recent times. With economic growth averaging at 6.6% between the 2010 – 2013 period, bringing the nation’s GDP figures much closer to the projected 7% annual growth rate, Zambia is poised to maintain its growth trajectory which is underpinned by a strong agriculture sector and good performance in mining, transport and communications industries.
Zambia’s development agenda continues to be guided by the long term vision of “becoming a prosperous middle income by 2030”. The vision is anchored by five year national plans, currently the Revised Sixth National Development Plan (R-SNDP). The strategic focus of the Plan is “infrastructure and human development”, guided by principles of accountability, decentralisation and effective resource allocation.
The focus of the Plan is to promote increased rural investment in roads, rail, Information and Communication Technology, energy, water and sanitation, education and health. Zambia remains the most sought after Foreign Direct Investment (FDI) destinations.