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Zambia is one of Sub-Saharan Africa's most highly urbanized countries. About one-half of the country's 10 million people are concentrated in a few urban zones strung along the major transportation corridors, while rural areas are under-populated. Unemployment and underemployment are serious problems. Per capita annual incomes are currently at about one-half their levels at independence, and at $302, place the country among the world's poorest nations. Social indicators continue to decline, particularly in measurements of life expectancy at birth (about 35 years) and maternal and infant mortality (95 per 1,000 live births). The high population growth rate of 2.3% per annum makes it difficult for per capita income to increase. The country's rate of economic growth cannot support rapid population growth or the strain which HIV/AIDS related issues (i.e., rising medical costs, street children decline in worker productivity) places on government resources. A satellite composite image of Africa showing the ecological break between North and Sub-Saharan regions Sub-Saharan Africa, Africa south of the Sahara Desert, is the term used to describe those countries of Africa that are not part of North Africa. ...
Rural areas are sparsely settled places away from the influence of large cities and towns. ...
Dorothea Langes Migrant Mother depicts destitute pea pickers in California during the Great Depression. ...
In economics, the term underemployment has at least three different meanings. ...
You may be looking for: list of countries by GDP (nominal) - list based on current currency market exchange rates list of countries by GDP (PPP) - list based on purchasing power parity This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ...
Life expectancy is the most likely number of years remaining for a living being (or the average for a class of living beings) of a given age to live. ...
Newborn with suctioning and umbilical cord Childbirth (also called labour, birth, or parturition) is the culmination of pregnancy, the emergence of a child from its mothers uterus. ...
Economic growth is the increase in the value of goods and services produced by an economy. ...
HIV (Human Immunodeficiency Virus) is a retrovirus that infects cells of the human immune system. ...
The Red Ribbon symbol is used internationally to represent the fight against AIDS. AIDS (Acquired Immunodeficiency Syndrome or Acquired Immune Deficiency Syndrome, rarely written Aids) is a disease characterized by the destruction of the human immune system. ...
A street child or street kid is a child who lives on the street – in particular, one that is not taken care of by parents or other adults – and who sleeps on the street because he or she does not have a home. ...
Economic reform
The Chiluba government (1991-2001), which came to power after democratic multi-party elections in November 1991, was committed to extensive economic reform. The government privatised many state industries, and maintained positive real interest rates. Exchange controls were eliminated and free market principles endorsed. It remains to be seen whether the Mwanawasa government will follow a similar path of implementing economic reform and undertaking further privatization. Zambia has yet to address issues such as reducing the size of the public sector, which still represents 44% of total formal employment, and improving Zambia's social sector delivery systems. Frederick Jacob Titus Chiluba (born April 30, 1943) was the second President of Zambia (1991 - 2002). ...
Democracy is a form of government under which the power to alter the laws and structures of government lies, ultimately, with the citizenry. ...
A political party is a political organization that subscribes to a certain ideology and seeks to attain political power within a government. ...
Privatization (sometimes privatisation, denationalization, or, especially in India, disinvestment) is the process of transferring property, from public ownership to private ownership and/or transferring the management of a service or activity from the government to the private sector. ...
An interest rate is the rental price of money. ...
A free market is an idealized market, where all economic decisions and actions by individuals regarding transfer of money, goods, and services are voluntary, and are therefore devoid of coercion and theft (some definitions of coercion are inclusive of theft). Colloquially and loosely, a free market economy is an economy...
President Levy Mwanawasa Levy Patrick Mwanawasa (born September 3, 1948) is the third President of Zambia (since 2002). ...
The public sector is that part of economic and administrative life that deals with the delivery of goods and services by and for the government, whether national, regional or local/municipal. ...
After the government privatized the giant parastatal mining company Zambian Consolidated Copper Mines (ZCCM), donors resumed balance-of-payment support. The final transfer of ZCCM's assets occurred on March 31, 2000. Although balance-of-payment payments are not the answer to Zambia's long-term debt problems, it will in the short term provide the government some breathing room to implement further economic reforms. The government has, however, spent much of its foreign exchange reserves to intervene in the exchange rate mechanism. To continue to do so, however, would jeopardize Zambia's debt relief. Zambia qualified for HIPC debt relief in 2000, contingent upon the country meeting certain performance criteria, and this should offer a long-term solution to Zambia's debt situation. In January 2003, the Zambian Government informed the IMF and World Bank that it wished to renegotiate some of the agreed performance criteria calling for privatization of the Zambia National Commercial Bank and the national telephone and electricity utilities. The El Chino Mine located near Silver City, New Mexico is an open-pit copper mine Mining is the extraction of valuable minerals or other geological materials from the earth, usually (but not always) from an ore body, vein, or (coal) seam. ...
This is a list of types of companies, i. ...
Debt is that which is owed. ...
In the foreign exchange market, the currency traders goal is to earn as much profit as possible as a result of purchasing and selling foreign currencies. ...
The Heavily Indebted Poor Countries (HIPC) initiative aims at assisting the worlds poorest countries by bringing their external debt to sustainable levels, conditional on their governments showing satisfactory performance levels. ...
The flag of the International Monetary Fund (IMF) The International Monetary Fund (IMF) is the international organization entrusted with overseeing global financial system‘s current trade account balances of member states. ...
Logo of the World Bank The International Bank for Reconstruction and Development (IBRD, in Romance languages: BIRD), better known as the World Bank, is an international organization whose original mission was to finance the reconstruction of nations devastated by WWII. Now, its mission has expanded to fight poverty by means...
A telephone handset A touch-tone telephone dial Telephone Complex relay used in a telephone switching system. ...
A public utility is a company that maintains the infrastructure for a public service. ...
Copper The Zambian economy has historically been based on the copper-mining industry. Output of copper had fallen, however, to a low of 228,000 tonnes in 1998, continuing a 30-year decline in output due to lack of investment, and more recently, low copper prices and uncertainty over privatization. In 2001, the first full year of a privatized industry, Zambia recorded its first year of increased productivity since 1973. The future of the copper industry in Zambia was thrown into doubt in January 2002, when investors in Zambia's largest copper mine announced their intention to withdraw their investment. A tonne (also called metric ton) is a non-SI unit of mass, accepted for use with SI, defined as: 1 tonne = 103 kg (= 106 g). ...
Investment is a term with several closely-related meanings in finance and economics. ...
Inflation Lack of balance-of-payment support meant the Zambian government did not have resources for capital investment and periodically had to issue bonds or otherwise expand the money supply to try to meet its spending and debt obligations. The government continued these activities even after balance-of-payment support resumed. This has kept interest rates at levels that are too high for local business, fuelled inflation, burdened the budget with domestic debt payments, while still falling short of meeting the public payroll and other needs, such as infrastructure rehabilitation. The government was forced to draw down foreign exchange reserves sharply in 1998 to meet foreign debt obligations, putting further pressure on the kwacha and inflation. Inflation held at 32% in 2000; consequently, the kwacha lost the same value against the dollar over the same period. In mid- to late 2001, Zambia's fiscal management became more conservative. As a result, 2001 year-end inflation was below 20%, its best result in decades. In 2002 inflation rose to 26.7%. The balance of payments is a measure of the payments that flow from one exports and imports of goods, services, and financial capital, as well financial transfers. ...
Bonds can refer to: A financial bond (including a junk bond or a zero-coupon bond) Barry Bonds A chemical bond (including the ionic bond, covalent bond, coordinate covalent bond, metallic bond, hydrogen bond, Carbon-carbon bond, Disulfide bond and Glycosidic bond) This is a disambiguation page — a navigational aid...
Budget generally refers to a list of all planned expenses and revenues. ...
The kwacha is the name of the monetary unit of Zambia (since 1968) and of Malawi (since 1970). ...
The dollar is the name of the official currency in several countries, dependencies and other regions (see list below), including the US dollar, the worlds most widely circulated currency (see list below). ...
Agriculture The agriculture sector represented 20% GDP in 2000. Agriculture accounted for 85% of total employment (formal and informal) for 2000. Maize (corn) is the principal cash crop as well as the staple food. Other important crops include soybean, cotton, sugar, sunflower seeds, wheat, sorghum, millet, cassava, tobacco and various vegetable and fruit crops. Floriculture is a growth sector, and agricultural non-traditional exports now rival the mining industry in foreign exchange receipts. Zambia has the potential for significantly increasing its agricultural output; currently, less than 20% of its arable land is cultivated. In the past, the agriculture sector suffered from low producer prices, difficulties in availability and distribution of credit and inputs, and the shortage of foreign exchange. Employment is a contract between two parties, one being the employer and the other being the employee. ...
Species Zea diploperennis Zea luxurians Zea nicaraguensis Zea perennis References ITIS 42268 2002-09-22 Sorting Zea names This article is about the staple food. ...
In agriculture, a cash crop is a crop which is sold for money. ...
A staple food is a basic but nutritious food that forms the basis of a traditional diet, particularly that of the poor. ...
Binomial name Glycine max Soybeans (US) or soya beans (UK) (Glycine max) are a high-protein legume (Family Fabaceae) grown as food for both humans and livestock. ...
Cotton is a soft fiber that grows around the seeds of the cotton plant, a shrub native to the tropical and subtropical regions of both the Old World and the New World. ...
A sugar is a form of carbohydrate used in the food and drinks industries, and important in biochemistry. ...
Binomial name Helianthus annuus The sunflower (Helianthus annuus) is an annual plant in the Family Asteraceae with a large flower head (inflorescence). ...
Species T. boeoticum T. durum T. monococcum T. spelta References: ITIS 42236 2002-09-22 Wheat (Triticum spp. ...
Species Sorghum × almum Sorghum almum Sorghum bicolor Sorghum caudatum Sorghum × drummondii Sorghum halepense Sorghum propinquum References ITIS 42106 2002-09-22 Sorghum (Sorghum vulgare or Sorghum bicolor) is a grass (Family Poaceae), the grain of which is used for food, fodder, and the production of alcoholic beverages. ...
Nutrition information for one cup of cooked millet Millet is the collective name of a group of genera of the grass family(Gramineae/Paniceae) widely grown around the world for food or animal feed. ...
Binomial name Manihot esculenta Crantz Cassava or manioc (Manihot esculenta; also yuca in Spanish, and mandioca, aipim, or macaxera in Portuguese) is a woody perennial shrub of the spurge family, that is extensively cultivated as an annual crop for its edible starchy tuberous root. ...
Species N. glauca N. longiflora N. rustica N. sylvestris N. tabacum Ref: ITIS 30562 as of 2002-08-28 Tobacco () is a broad-leafed plant of the nightshade family, indigenous to North and South America, whose dried and cured leaves are often smoked (see tobacco smoking) in the form of...
Vegetables on a market Vegetable is a nutritional and culinary term denoting any part of a plant that is commonly consumed by humans as food, but is not regarded as a culinary fruit, nut, herb, spice, or grain. ...
Fruit stall in Barcelona, Spain. ...
The Latin words hortus (garden plant) and cultura (culture) together form horticulture, classically defined as the culture or growing of garden plants. ...
In geography, arable land (from Latin arare, to plough ) is a form of agricultural land use, meaning land that can be (and is) used for growing crops. ...
Growth There are, however, positive macroeconomic signs, rooted in reforms implemented in the early and mid-1990s. Zambia's floating exchange rate and open capital markets have provided useful discipline on the government, while at the same time allowing continued diversification of Zambia's export sector, growth in the tourist industry, and procurement of inputs for growing businesses. Some parts of the copper belt have experienced a significant revival as spin-off effects from the massive capital reinvestment are experienced. Macroeconomics is the study of the entire economy in terms of the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the general behavior of prices. ...
The capital market is the market for long-term loans and equity capital. ...
A tourist boat travels the River Seine in Paris, France Tourism can be defined as the act of travel for the purpose of recreation, and the provision of services for this act. ...
Economy - overview Despite privatization and budgetary reform, Zambia's economic growth remains below the 5% to 7% necessary to reduce poverty significantly. Privatization of government-owned copper mines relieved 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. However, low mineral prices have slowed the benefits of privatizing the mines and have reduced incentives for further private investment in the sector. Cooperation continues with international bodies on programs to reduce poverty.
After severe food shortages in 2002, Zambia more than doubled its maize harvest in 2003, exporting 15 000 tonnes to Zimbabwe, 4 100 tonnes to Namibia and 5000 tonnes to Botswana, as well as 60 000 to the Democratic Republic of Congo. 2002 is a common year starting on Tuesday of the Gregorian calendar. ...
2003 is a common year starting on Wednesday of the Gregorian calendar. ...
GDP: purchasing power parity - $8.9 billion (8.9 G$) (2002 est.), $8.5 billion (1999 est.) The word billion, and its equivalents in other languages, refer to one of two different numbers. ...
GDP - real growth rate: 4.2% (2002 est.), 1.5% (1999 est.)
GDP - per capita: purchasing power parity - $890 (2002 est.), $880 (1999 est.)
GDP - composition by sector:
agriculture: 22%
industry: 26%
services: 52% (2001)
Population below poverty line: 86% (1993 est.)
Labour force - by occupation: agriculture 85%, industry 6%, services 9%
Unemployment rate: 50% (2000 est.), 25% (1998)
Exports - commodities: copper 55%, cobalt, electricity, tobacco, flowers, cotton
Debt - external: $5.8 billion (2001), $6.7 billion (1998 est.)
Economic aid - recipient: $651 million (2000 est.), $1.99 billion (1995)
Currency: 1 Zambian kwacha (ZK) = 100 ngwee
External links The CIA Seal The Central Intelligence Agency (CIA) is one of the American foreign intelligence agencies, responsible for obtaining and analyzing information about foreign governments, corporations, and individuals, and reporting such information to the various branches of the U.S. Government. ...
The World Factbook is an annual publication by the Central Intelligence Agency of the United States with basic almanac-style information about the various countries of the world. ...
The New Statesman is a left-of-centre political weekly published in London. ...
May 24 is the 144th day of the year in the Gregorian calendar (145th in leap years). ...
See also
The economy of Africa comprises more than 800 million people in 54 different states. ...
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