Zambia - Balance of payments
Zambian trade is normally in rough balance. However, a heavy debt burden gives the country a current account deficit, and hard currency is often in short supply. Total debt service payments in 1997 equaled $277 million, or about 21% of export earnings.
In the early 2000s, the trade deficit worsened due to miningrelated imports needed to reform the privatized copper industry. Nonetheless, an improvement in official and commercial inflows, supported by a resumption of concessional donor support, was expected to prompt a recovery.
The US Central Intelligence Agency (CIA) reports that in 2001 the purchasing power parity of Zambia's exports was $876 million while imports totaled $12.05 billion resulting in a trade deficit of $11.174 billion.
The International Monetary Fund (IMF) reports that in 2000 Zambia had exports of goods totaling $757 million and imports totaling $978 million. The services credit totaled $114 million and debit $340 million. The following table summarizes Zambia's balance of payments as reported by the IMF for 2000 in millions of US dollars.
|Balance on goods||-221|
|Balance on services||-226|
|Balance on income||-120|
|Direct investment abroad||…|
|Direct investment in Zambia||122|
|Portfolio investment assets||…|
|Portfolio investment liabilities||-1|
|Other investment assets||-85|
|Other investment liabilities||-309|
|Net Errors and Omissions||185|
|Reserves and Related Items||520|