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Zambia Business Report

General information
Source: The World Factbook - Central Intelligence Agency
16,445,079 (July 2018 est.)
$68.93 billion (2017 est.)

Second-largest producer of copper in Africa

GDP growth rate
3.4% (2017 est.)

Zambia's economy is dependent on copper prices, therefore the country's GDP growth rate fluctuates considerably

GDP (PPP) per capita
$4,000 (2017 est.)

Zambia is a lower middle-income country but extreme poverty remains widespread especially in rural areas

Local currency
Zambian kwacha (ZMK)

Weak currency dependent on commodity prices and subject to wide fluctuations

Financial stability (Public debt)
63.1% of GDP (2017 est.)

Given that most of the debt is external, the level is high with growing concerns about financial stability

6.6% (2017 est.)

Medium to high, slowing sharply from 17.9% in 2016

Bemba 33.4%, Nyanja 14.7%, Tonga 11.4%, Lozi 5.5%, English (official) 1.7%, among others

English (official language) is the most commonly used second language

Corruption perception index (Source: Transparency International)

Very high level of corruption

Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT is applicable to supplies of standard-rated goods and services
Corporate Tax
Mining activities are taxed at 30% plus royalty tax from 5% to 10%
Goods imported are subject to customs duties plus import VAT at standard rate. In 2017, a surtax of 5% was introduced on selected goods that are imported into the country.

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