Zambia flag Zambia: Economic and Political Overview

Foreign trade figures of Zambia

Foreign Trade in Figures

Zambia is open to foreign trade, which accounts for 69% of the country's GDP (World Bank, latest data available). Zambia's trade policy aims to diversify its economy through privatisation programs and the expansion of its export base. The country mainly exports copper (68.9%), sulphur (2.6%), electrical energy (2.6%), and ferro-alloys (1.9%). As for the country's main imports, they include petroleum oils (5.3%), sulphur (4.3%), mineral or chemical fertilisers (4.3%), copper ores (4.2%), and motor vehicles (3.8% - data Comtrade, 2022).

The country is a member of COMESA and has signed Interim Economic Partnership Agreements (Interim EPAs) with the European Commission. The country became a member of the WTO in 1995. Customs duties are high, but the country has few non-tariff trade barriers. Certain products such as crude oil, medical supplies, and fertilisers are exempt from import duties. However, irregularities in the tax system and high transportation costs are real trade barriers. Zambian products are mainly exported towards Switzerland (38.5%), China (20.7%), Democratic Republic of Congo (13.6%), Pitcairn (12.8%), and Equatorial Guinea (5.4%); whereas imports come chiefly from South Africa (30.0%), Equatorial Guinea (21.2%), China (15.5%), the United Arab Emirates (7.6%), and the Democratic Republic of Congo (7.3% - data Comtrade, 2022).

Zambia's trade balance has been experiencing a structural surplus in recent years. In 2022, exports of goods amounted to USD 11.6 billion, while imports reached USD 9 billion (+15.3% and +40.6% y-o-y, respectively – data WTO). As for services, exports reached USD 933 million, while imports amounted to USD 1.8 billion. The overall trade balance was estimated to be positive by 11.1% of GDP by the World Bank (from 18.2% one year earlier). According to the latest figures available from ZamStat, in the first three quarters of 2023, the country exported USD 8 billion worth of goods against USD 7.6 billion in imports.

 
Foreign Trade Values 20182019202020212022
Imports of Goods (million USD) 9,4667,1735,2856,4359,047
Exports of Goods (million USD) 9,0347,0397,92410,10111,651
Imports of Services (million USD) 1,6781,5342,2621,2931,876
Exports of Services (million USD) 9531,012556526933

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20182019202020212022
Foreign Trade (in % of GDP) 74.968.879.386.065.6
Trade Balance (million USD) 5147443,2164,8163,369
Trade Balance (Including Service) (million USD) -2102221,5104,0372,426
Imports of Goods and Services (in % of GDP) 36.934.232.533.927.2
Exports of Goods and Services (in % of GDP) 38.034.646.852.138.4

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20232024 (e)2025 (e)2026 (e)2027 (e)
Volume of exports of goods and services (Annual % change) -0.39.78.37.36.9
Volume of imports of goods and services (Annual % change) 8.41.94.68.19.2

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
• Cotonou Agreement
• African Growth and Opportunity Act beneficiary country
• China Special Preferential Agreement
• Member of World Trade Organization (WTO) since 1995
• Member of Common Market for Eastern and Southern Africa (COMESA)
• Member of
Southern African Development Community (SADC)
 

Main Partner Countries

Main Customers
(% of Exports)
2022
Switzerland 38.5%
China 20.7%
Democratic Republic of Congo 13.6%
Pitcairn 12.8%
Equatorial Guinea 5.4%
See More Countries 8.9%
Main Suppliers
(% of Imports)
2022
South Africa 30.0%
Equatorial Guinea 21.2%
China 15.5%
United Arab Emirates 7.6%
Democratic Republic of Congo 7.3%
See More Countries 18.3%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

11.7 bn USD of products exported in 2022
Copper, unrefined; copper anodes for electrolytic...Copper, unrefined; copper anodes for electrolytic refining 52.7%
Copper, refined, and copper alloys, unwrought ...Copper, refined, and copper alloys, unwrought (excl. copper alloys of heading 7405) 16.2%
Sulphur of all kinds (excl. sublimed sulphur,...Sulphur of all kinds (excl. sublimed sulphur, precipitated sulphur and colloidal sulphur) 2.6%
Electrical energyElectrical energy 2.6%
Ferro-alloysFerro-alloys 1.9%
See More Products 24.1%
9.1 bn USD of products imported in 2022
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 5.3%
Sulphur of all kinds (excl. sublimed sulphur,...Sulphur of all kinds (excl. sublimed sulphur, precipitated sulphur and colloidal sulphur) 4.3%
Mineral or chemical nitrogenous fertilisers (excl....Mineral or chemical nitrogenous fertilisers (excl. those in pellet or similar forms, or in packages with a gross weight of <= 10 kg) 4.3%
Copper ores and concentratesCopper ores and concentrates 4.2%
Motor vehicles for the transport of goods, incl....Motor vehicles for the transport of goods, incl. chassis with engine and cab 3.8%
See More Products 78.1%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import Export Flows.

 

Main Services

Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Latest Update: April 2024