Zambia Economic Outlook
July 17, 2018The economy lost traction in the first quarter, expanding 2.6% year-on-year compared to 4.1% in the previous quarter. Growth was primarily supported by a double-digit surge in mining and quarrying output, fueled by healthy demand for copper exports. Meanwhile, a sharp contraction in the agricultural sector owing to a pervasive drought was largely behind the slowdown. Prospects appear brighter for the second quarter: Overseas sales of copper shot up in May, with export earnings on the rise. Earnings have withstood pressure from the downward trend in copper prices stemming from intensifying trade war fears. Moreover, the PMI for June signaled a continued robust expansion in private sector activity amid stronger demand conditions.
Zambia Economic GrowthThis year, the economy is expected to remain robust thanks to a healthy expansion in exports. A key challenge to the outlook, however, stems from rapidly rising external debt servicing costs against the backdrop of a weakening kwacha and dwindling foreign exchange reserves. FocusEconomics panelists expect GDP to grow 4.1% in 2018, which is down 0.2 percentage points from last month’s forecast, and 4.5% in 2019.
Zambia Economy Data
5 years of Zambia economic forecasts for more than 30 economic indicators.
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|Bond Yield||19.33||0.0 %||Jul 17|
|Exchange Rate||10.08||0.0 %||Jul 17|
|Stock Market||0.3||0.0 %||Jul 17|
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