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The territory of Northern Rhodesia was administered by the former British South Africa Company from 1891 until it was taken over by the UK in 1923. During the 1920s and 1930s, advances in mining spurred development and immigration. The name was changed to Zambia upon independence in 1964. In the 1980s and 1990s, declining copper prices, economic mismanagement, and a prolonged drought hurt the economy. Elections in 1991 brought an end to one-party rule and propelled the Movement for Multiparty Democracy (MMD) to government. The subsequent vote in 1996, however, saw increasing harassment of opposition parties and abuse of state media and other resources. The election in 2001 was marked by administrative problems, with three parties filing a legal petition challenging the election of ruling party candidate Levy MWANAWASA. MWANAWASA was reelected in 2006 in an election that was deemed free and fair. Upon his death in August 2008, he was succeeded by his vice president, Rupiah BANDA, who won a special presidential byelection later that year. The MMD and BANDA lost to the Patriotic Front (PF) and Michael SATA in the 2011 general elections. SATA, however, presided over a period of haphazard economic management and attempted to silence opposition to PF policies. SATA died in October 2014 and was succeeded by his vice president, Guy SCOTT, who served as interim president until January 2015, when Edgar LUNGU won the presidential byelection and completed SATA's term. LUNGU then won a full term in August 2016 presidential elections.

Location

Southern Africa, east of Angola, south of the Democratic Republic of the Congo

Natural Resources

copper, cobalt, zinc, lead, coal, emeralds, gold, silver, uranium, hydropower

Population - distribution

one of the highest levels of urbanization in Africa; high density in the central area, particularly around the cities of Lusaka, Ndola, Kitwe, and Mufulira

13460305
Bembe 33.4%, Nyanja 14.7%, Tonga 11.4%, Lozi 5.5%, Chewa 4.5%, Nsenga 2.9%, Tumbuka 2.5%, Lunda (North Western) 1.9%, Kaonde 1.8%, Lala 1.8%, Lamba 1.8%, English (official) 1.7%, Luvale 1.5%, Mambwe 1.3%, Namwanga 1.2%, Lenje 1.1%, Bisa 1%, other 9.7%, unspecified 0.2%
LUSAKA (capital) 2.179 million (2015)
Conventional long form
Republic of Zambia
Conventional short form
Zambia
Local long form
Local short form
presidential republic
Name
Lusaka
Geographic coordinates
15 25 S, 28 17 E
Time difference
UTC+2 (7 hours ahead of Washington, DC, during Standard Time)
has not submitted an ICJ jurisdiction declaration; accepts ICCt jurisdiction
Zambia had one of the world’s fastest growing economies for the ten years up to 2014, with real GDP growth averaging roughly 6.7% per annum, though growth slowed in 2015 and 2016 to just under 3%, due to falling copper prices, reduced power generation, and depreciation of the kwacha. Zambia’s lack of economic diversification and dependency on copper as its sole major export makes it vulnerable to fluctuations in the world commodities market and prices turned downward in 2015 due to declining demand from China; Zambia was overtaken by the Democratic Republic of Congo as Africa’s largest copper producer.
Inflation
10.101%
External debt stocks
US$ 8,785,199,000
Total tax rate (% of commercial profits)
18.6%
Real Interest Rate
8.517%
Manufacturing, value added (% of GDP)
7.93%
Current Account Balance
US$ -767,651,771
Labor Force, Total
6,861,959
Employment in Agriculture
55.81%
Employment in Industry
10.07%
Employment in Services
33.74%
Unemployment Rate
7.53%
Imports of goods and services
US$ 9,979,766,286
Exports of goods and services
US$ 7,856,679,779
Total Merchandise Trade
65.70%
FDI, net inflows
US$ 1,582,666,667
Commercial Service Exports
US$ 861,512,074
corn, sorghum, rice, peanuts, sunflower seeds, vegetables, flowers, tobacco, cotton, sugarcane, cassava (manioc, tapioca), coffee; cattle, goats, pigs, poultry, milk, eggs, hides
copper mining and processing, emerald mining, construction, foodstuffs, beverages, chemicals, textiles, fertilizer, horticulture
Commodities
copper/cobalt, cobalt, electricity; tobacco, flowers, cotton
Partners
Switzerland 44.2%, China 14.5%, Singapore 7.8%, South Africa 7.7%, Democratic Republic of the Congo 7.5% (2015)
Commodities
machinery, transportation equipment, petroleum products, electricity, fertilizer, foodstuffs, clothing
Partners
South Africa 31%, Democratic Republic of the Congo 11.2%, China 8.2%, Mauritius 5.7%, Kenya 4.9%, India 4.3% (2015)
Country Risk Rating
D
A high-risk political and economic situation and an often very difficult business environment can have a very significant impact on corporate payment behavior. Corporate default probability is very high.
Business Climate Rating
C
The business environment is difficult. Corporate financial information is often unavailable and when available often unreliable. Debt collection is unpredictable. The institutional framework has many troublesome weaknesses. Intercompany transactions run major risks in the difficult environments rated C.
  • Mineral wealth (copper: second-largest producer in Africa, cobalt, uranium, gold, diamonds, manganese)
  • Significant hydroelectric potential
  • International financial support
  • Dependence on copper
  • Landlocked and reliant on communication channels of neighboring countries
  • Electricity generation almost totally hydroelectric, unreliable transport network
  • Extreme inequalities, health, education, and administrative failings

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