|Home :: Trade Leads By Country : Zambia|
Tourism has seen a new face in Zambia very recently and this is only due to the fall of the neighbouring state of Zimbabwe.The number of tourists visiting Zambia has quadrupled since foreigners began to shun neighboring Zimbabwe four years ago, boosting revenues from the sector to $153 million last year, officials said on Tuesday. This is due to the problems that Zimbabwe is facing in their internal community as well as the International and this is inturn helped the country of Zambia cash on in their the boost of tourism.
Business and Economy
It is a sad state though the country has been on the progressive front but there is no evident increase in their development due to various reasons.There has been a change in privatization and budgetary reform but even then , Zambia's economic growth remains below the 5% to 7% necessary to reduce poverty significantly. Something that this wave of privatisation has actually bought in is the substantial change in the government-owned copper mines were the government from covering mammoth losses generated by the industry and greatly improved the chances for copper mining to return to profitability and spur economic growth. Copper mining and output is one of the reasons for the revenue that is being generated in the country although like most countries even in Zambia there is a contribution of the agriculture sector.
The major cities in Zambia are Kitwe,Kabwe,Lusaka,Chingola,Ndola.These are the only cities that are very prominent and constitute this country of Zambia.
GDP: purchasing power parity - $8.596 billion (2003 est.)
GDP - real growth rate: 4% (2003 est.)
GDP - per capita: purchasing power parity - $800 (2003 est.)
GDP - composition by sector: agriculture: 14.9%
services: 57.6% (2001)
Population below poverty line: 86% (1993)
Household income or consumption by percentage share:
lowest 10%: 1.1%
highest 10%: 41% (1998)
Distribution of family income - Gini index: 52.6 (1998)
Inflation rate (consumer prices): 21.5% (2003 est.)
Labor force: 4.29 million (2000)
Labor force - by occupation: agriculture 85%, industry 6%, services 9%
Unemployment rate: 50% (2000 est.)
revenues: $1.2 billion
expenditures: $1.25 billion, including capital expenditures of $NA (2001 est.)
Industries: copper mining and processing, construction, foodstuffs, beverages, chemicals, textiles, fertilizer, horticulture
Industrial production growth rate: 4% (2003 est.)