Current Account in Zambia

Zambia Current Account | Economic News & Forecasts

Zambia - Current Account

Incoming data suggests the economic environment remains challenging, following a lackluster first quarter of the year. Drought has dented agricultural production this year and pushed up inflation, while low copper prices, new taxes and an uncertain business environment have plagued the mining sector. Exports contracted by more than 10% in May, largely reflecting lower copper earnings due to low prices, while the Stanbic Bank PMI languished in contractionary territory in June for a fourth consecutive month. Moreover, the country is in a precarious situation regarding its external debt load. The country faces a heavy external debt payment service of almost USD 2.0 billion this year (approx. 7% of GDP) and dwindling reserves cast doubt on whether the country can fulfill these payments. Reflecting these concerns, Fitch Ratings downgraded Zambia’s rating to CCC in late June.

Zambia - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-0.8  2.3  -2.3  -3.2  -1.6  

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Zambia Current Account Chart

Zambia Current Account
Note: Current account balance as % of GDP.
Source: Bank of Zambia

Zambia Facts

Bond Yield31.380.0 %Jul 11
Exchange Rate12.540.0 %Jul 11
Stock Market0.30.0 %Jul 10

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