Zambia - Income

The US Central Intelligence Agency (CIA) reports that in 2001 Zambia's gross domestic product (GDP) was estimated at $8.5 billion. The per capita GDP was estimated at $870. The annual growth rate of GDP was estimated at 3.9%. The average inflation rate in 2001 was 21.5%. The CIA defines GDP as the value of all final goods and services produced within a nation in a given year and computed on the basis of purchasing power parity (PPP) rather than value as measured on the basis of the rate of exchange. It was estimated that agriculture accounted for 24% of GDP, industry 25%, and services 51%. Foreign aid receipts amounted to about $36 per capita and accounted for approximately 11% of the gross national income (GNI).

The World Bank reports that in 2001 per capita household consumption (in constant 1995 US dollars) was $268. Household consumption includes expenditures of individuals, households, and nongovernmental organizations on goods and services, excluding purchases of dwellings. It was estimated that for the same period private consumption declined at an annual rate of 4%. Approximately 52% of household consumption was spent on food, 8% on fuel, 2% on health care, and 11% on education. The richest 10% of the population accounted for approximately 41.0% of household consumption and the poorest 10% approximately 1.1%. It was estimated that in 1993 about 86% of the population had incomes below the poverty line.

Also read article about Zambia from Wikipedia

User Contributions:

I have given some thought to moving to Zambia in the next few years and was wondering how much monthly income I'd need to live comfortably with a wife and child. When the time comes for me to make the move my monthly income will be approximately $1,000.00 U.S.D. Will this be enough to sustain me, as I am retired and will be depending on Social Security Retirement income from the U.S.

Comment about this article, ask questions, or add new information about this topic: