Economy of Zambia

Common card · No. 446989

Zambia has an emerging economy. It is a developing country, and it achieved middle-income status in 2011. Through the first decade of the 21st century, the Zambian economy was one of the fastest-growing economies in Africa, and its capital, Lusaka, the fastest-growing city in the Southern African Development Community (SADC). Zambia's economic performance has stalled in recent years due to declining copper prices, significant fiscal deficits, and energy shortages. The economy has been reliant on mineral extraction since the 1920s, in particular copper. Upon achieving independence, Zambia had a higher GDP per capita than almost all sub-Saharan African countries. Over the subsequent decades, Zambia's economy contracted, in part due to declining copper prices. Since the 2000s, Zambia's economy has been growing. As of 2019, Zambia's GDP per capita (current international dollars) stands at $1,305.00. Zambia is one of Sub-Saharan Africa's most urbanized countries. About one-half of the country...

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