Zambia Economic Forecast

Over the past several years, Zambia is a country that has seen a nice boost to the economy. In fact, from 2005 to 2008, the Gross Domestic Produce increased by as much as 6%. In addition, copper mines that were stated owned during the 1990s were privatized, allowing recovery of huge losses. This also lead to improvements in copper mining overall, actually making a profit for the country and helping improve the overall economy.

Over the past several years, Zambia is a country that has seen a nice boost to the economy. In fact, from 2005 to 2008, the Gross Domestic Produce increased by as much as 6%. In addition, copper mines that were stated owned during the 1990s were privatized, allowing recovery of huge losses. This also lead to improvements in copper mining overall, actually making a profit for the country and helping improve the overall economy.

Then with copper prices increasing in 2004 and increase in Foreign Direct Investment, the Zambia economy has experienced stability. In addition, the GDP had a huge boost in the fall of 2007 because of a massive booster crop. While Zambia is a country that still faces poverty, it is optimistic knowing the economy has strengthened, actually taking inflation rates to single digits. Today, with imports and exports increasing, currency stabilizing and national interest rates going down, experts are happy with the direction the Zambia economy is heading.

Zambia GDP Forecast

For numbers of the Zambia GDP (Gross Domestic Product, Current Prices, US Dollars) to be predicted, historical data, national currency, and exchange rate projections are used. At the end of 2008, the country’s GDP was at $14.70 billion in US currency, followed by a slight reduction of 11.59% over the next 12 months. With this, 2009 had a GDP of $13 billion, putting Zambia at number 106 in the world. For 2010, the GDP is expected to close around $16.07 billion, which is only a slight change from the prior year. However, a more significant change is expected to occur over the next five years, putting 2010 at a GDP of $25.77 billion (US dollars).

Zambia Unemployment Forecast

Being an economy of private and foreign investments, natural resources, and reform, Zambia remains a country of poverty. Today, the Zambia population is approximately 13 million, with people depending heavily on trade, specifically for copper. One challenge is that this country is growing and because of that, it is hard for jobs to keep up with demand. Therefore, the Zambia unemployment rate as reported in 2009 is as high as 50% something the government realizes is a major concern.

Zambia Inflation Rate Forecast

A major part of the economy for this country is the Zambia inflation rate, which uses averages for the given year instead of period end. At the close of 2008, the inflation rate for this country was 12.45% and by the end of 2009, much the same at 13.393%. At that time, Zambia was ranked at number 15 worldwide. Regarding the 2010 inflation rate for Zambia, experts are forecasting a very small change that would put numbers at 8.23%. Then for 2015, experts predict the inflation rate will drop down to about 5%.

Zambia Current Account Balance Forecast

For the Zambia current account balance, major classifications such as goods, services, income, and current transfers are used. The numbers for this balance in 2008 closed at minus $1.05 billion in US dollars, followed by a reduction of 59.20% over the next year. By 2009, the account balance was a minus $0.428 billion. As far as future numbers, forecasters believe that 2010 and 2015 will have account balances of minus $0.56 billion and minus $1.205 billion in US currency respectively.