About CountryWith a population of around 15 million inhabitants, Zambia is a landlocked country in the southern of Africa bordering Zimbabwe, Angola, DR Congo, Malawi, Mozambique, Tanzania and Namibia.
The performance of the Zambian economy has improved markedly over recent years, reflecting sound macro-economic policies and a favorable external environment. For more than a decade (2000-2010) the country attained macroeconomic stability and achieved impressive real growth averaging 7.7% per annum and lifting Zambia above the threshold of lower Middle Income Countries. Zambia’s economy remains strong with growth expected to increase above 6% in 2015/16 after a decline in GDP growth from 6.7% in 2013 to 5.7%. This economic performance has largely been driven by growth in construction, transport, communications, the public sector, trading and mining. The Zambian economy has been relatively resilient to the global crises in recent years.
The financial sector is gaining prominence as demonstrated by double-digit growth for three consecutive years. The sector grew by 13.2% in 2014 increasing the sectors relative share of GDP to almost 5%.
Zambia is endowed with vast natural resources, including 40% of the surface water resources in Southern Africa and large forest areas encompassing 50% of the total country area.
Source: African Economic Outlook