About Zambia
Economy
Economic Overview
Zambia's economy is historically based on the copper mining industry. The country is Africa's second-largest copper producer and one of the world's top producers of cobalt. The mining sector has been the backbone of the economy since the early 20th century.
In recent years, Zambia has been diversifying its economy with growing sectors in agriculture, tourism, construction, and manufacturing. The government has actively promoted economic diversification to reduce dependency on copper.
The currency is the Zambian Kwacha (ZMW). The country is a member of SADC, COMESA, and the African Union, facilitating regional trade and economic integration.
Copper & Cobalt
Mining
2nd largest copper producer in Africa
15% of GDP
Agriculture
Maize, tobacco, cotton, sugar cane
Growing Sector
Tourism
Victoria Falls, 20 national parks
Diversifying
Manufacturing
Food processing, textiles, chemicals
Trade & Investment
Zambia offers attractive investment opportunities across multiple sectors. The Zambia Development Agency (ZDA) facilitates investment and provides various incentives including tax holidays, duty-free importation of raw materials, and guaranteed repatriation of profits.
Key exports include copper, cobalt, electricity, tobacco, flowers, and cotton. Major trading partners include Switzerland, China, South Africa, the Democratic Republic of Congo, and the United Arab Emirates.
The Multi-Facility Economic Zones (MFEZs) and Industrial Parks programme provides infrastructure and tax incentives to attract both foreign and domestic investment in manufacturing and processing industries.