Sunday, June 16, 2024

Zambia Economy 6-16-24

Nominal GDP $29.536B, Per capita GDP $1,435.89, Population 20,569,737, Debt to GDP 65.0%. Inflation 16.8%, Unemployment 4.22%, Labor force participation rate 60%, Land area 290.586 sq miles, Arable land 16%, Urban 46.3% Rural 53.7%, Exports $16.6B, Imports $15.7B Trade Surplus $0.9B

Exports include Zambia's main export, copper accounts for 70 percent of Africa's production and 60 percent of country's total exports. Other exports include: sugar, tobacco, gemstones, cotton and electricity.

The main crops produced are corn (maize), sorghum, millet, cassava (manioc) and groundnuts (peanuts). Smallholder farmers mainly grow these crops.

Imports include Refined Petroleum: Refined petroleum, Machinery, Vehicles, Electrical Machinery and Equipment, Pharmaceuticals, Iron and Steel Products, Plastics, Food Products.

Zambia is experiencing drought and poor harvests. Zambia is a landlocked country, and it faces significant challenges related to drought and water shortages. It relies heavily on two major rivers, the Kafue and Zambezi, for its freshwater supply. However, the region has experienced a series of droughts in recent years, significantly impacting the rivers' water levels.

Comments

Irrigation is needed to prevent crop loss and reduce the need to import food.

Norb Leahy, Dunwoody GA Tea Party Leader

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