@Zambia:Economy
Economy-overview: Despite progress in privatization and budgetary reform, Zambia's economy has a long way to go. Inflation, while slowing somewhat, continues to be a major concern to the CHILUBA government. Zambia's copper mining sector, which accounts for over 80% of the nation's foreign currency intake, is struggling. Production rates are down as are world copper prices. Aid cuts by Zambia's donors, arising out of concern for the November 1996 flawed election, will severely damage Zambia's economic prospects. Urged by the World Bank, Zambia has embarked on a privatization program which is to include the all-important copper industry.
GDP: purchasing power parity-$8.8 billion (1997 est.)
GDP-real growth rate: 3.5% (1997 est.)
GDP-per capita: purchasing power parity-$950 (1997 est.)
GDP-composition by sector: agriculture: 23% industry: 40% services: 37% (1997 est.)
Inflation rate-consumer price index: 43.9% (1996)
Labor force: total: 3.4 million by occupation: agriculture 85%, mining, manufacturing, and construction 6%, transport and services 9%
Unemployment rate: 22% (1991)
Budget: revenues: $888 million expenditures: $835 million, including capital expenditures of $110 million (1995 est.)