Zambia’s economy has experienced strong growth in recent years, with real GDP growth reaching more than 6% per year between 2005 and 2013. The privatisation of government-owned copper mines relieved the government from covering losses from the industry, and also increased copper mining output.
Zambia’s dependency on copper meant that it was vulnerable to depressed commodity prices, but a bumper maize crop combined with continued copper output helped the country recover well from the global economic down-turn.
Despite a strong economy, poverty is an ongoing problem in Zambia, and is being made worse by a high birth rate, relatively high HIV/AIDs burdens and by market distorting agricultural policies.
Composition of GDP: