That dollar amount results from a 28.3% increase from $9.1 billion in 2018.
Year over year, the overall value of Zambia’s exported products rose 4.2% compared to $11.2 billion during 2021.
Zambia is a landlocked nation in Africa’s southern region.
Based on the average exchange rate for 2022, the Zambian Kwacha depreciated by -62% against the US dollar since 2018 but increased by 15.4% from 2021 to 2022. Zambia’s weaker local currency compared to 2018 makes its exports paid for in stronger US dollars relatively less expensive for international buyers.
Zambia’s Major Trading Partners
The latest available country-specific data shows that 98.2% of products exported from Zambia were bought by importers in: Switzerland (38.5% of the Zambian total), mainland China (20.7%), Democratic Republic of the Congo (13.6%), Pitcairn (12.8%), Equatorial Guinea (5.4%), South Africa (2.3%), Zimbabwe (2.3%), Namibia (1%), Botswana (0.54%), United States of America (0.46%), United Arab Emirates (0.31%) and Germany (0.24%).
From a continental perspective, 39.5% of Zambia’s exports by value were delivered to European countries while 25.9% were sold to importers in Africa. Zambia shipped 21.3% worth of goods to Asia, with another 12.8% going to Oceania’s Pitcairn and Australia.
Smaller percentages were sold to North America (0.5%) and Latin America (0.03%) excluding Mexico but including the Caribbean.
Given Zambia’s population of 20 million people, its total $11.7 billion in 2022 exports translates to approximately $585 for every resident in the African nation. That dollar metric exceeds the average $580 per capita one year earlier during 2021.
Zambia’s Top 10 Exports
The following export product groups represent the highest dollar value in Zambian global shipments during 2022. Also shown is the percentage share each export category represents in terms of overall exports from Zambia.
- Copper: US$8.1 billion (69.5% of total exports)
- Salt, sulphur, stone, cement: $499.9 million (4.3%)
- Iron, steel: $329.3 million (2.8%)
- Mineral fuels including oil: $318 million (2.7%)
- Inorganic chemicals: $248 million (2.1%)
- Ores, slag, ash: $238 million (2%)
- Beverages, spirits, vinegar: $159.5 million (1.4%)
- Tobacco, manufactured substitutes: $135.7 million (1.2%)
- Gems, precious metals: $133.3 million (1.1%)
- Food industry waste, animal fodder: $119.7 million (1%)
Zambia’s top 10 exports accounted for 88.2% of the overall value of its global shipments.
Inorganic chemicals was the fastest grower among the top 10 Zambian export categories, up by 211.6% from 2021 to 2022.
In second place for improving export sales was mineral fuels including oil via its 70.8% advance.
Zambia’s shipments of ores, slag and ash posted the third-fastest gain in value, up by 66%.
The leading decliner among Zambia’s top 10 export categories was gems and precious metals, pulled down by a -29.5% year-over-year reduction. That product category featured strong decreases in revenues from Zambian exports of precious or semi-precious stones, gold and precious metal scrap.
At the more granular four-digit Harmonized Tariff System code level, Zambia’s most valuable exported products are unrefined copper (52.7% of Zambia’s total), refined copper (16.2%), non-sublimed sulphur (2.6%), electrical energy (also 2.6%), iron ferroalloys (1.9%), non-alcoholic drinks excluding water or juice and milk (1.3%), sulphuric acid (1.1%), unmanufactured tobacco and tobacco waste (1.1%), master copper alloys (also 1.1%), then nickel ores and concentrates (1%).
Products Generating Zambia’s Best Trade Surpluses
Zambia posted a $2.64 billion trade surplus during 2022, down by -35.7% from $4.1 billion in black ink for 2021.
The following types of Zambian product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.
In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.
- Copper: US$8.1 billion (Down by -4.4% since 2021)
- Tobacco, manufactured substitutes: $134.6 million (Up by 5.6%)
- Gems, precious metals: $132.1 million (Down by -29.1%)
- Beverages, spirits, vinegar: $100.5 million (Up by 11.3%)
- Sugar, sugar confectionery: $89.1 million (Down by -18.7%)
- Milling products, malt, starches: $80.5 million (Up by 167%)
- Food industry waste, animal fodder: $80.4 million (Down by -3.3%)
- Cereals: $77.3 million (Up by 3,044%)
- Salt, sulphur, stone, cement: $74.7 million (Down by -52.1%)
- Cereal/milk preparations: $43.8 million (Up by 15.9%)
Zambia has highly positive net exports in the international trade of its most lucrative export, copper-related materials. In turn, these cashflows indicate Zambia’s strong competitive advantages under the copper product category.
Products Causing Zambia’s Worst Trade Deficits
Below are exports from Zambia that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Zambia’s goods trail Zambian importer spending on foreign products.
- Machinery including computers: -US$1.1 billion (Up by 23.2% since 2021)
- Vehicles: -$990.9 million (Up by 46.7%)
- Fertilizers: -$662 million (Up by 58.3%)
- Plastics, plastic articles: -$498.4 million (Up by 32.1%)
- Pharmaceuticals: -$406.9 million (Up by 12.6%)
- Other chemical goods: -$322.4 million (Up by 37.3%)
- Electrical machinery, equipment: -$290.2 million (Up by 8.9%)
- Mineral fuels including oil: -$253.6 million (Down by -52.7%)
- Rubber, rubber articles: -$205 million (Up by 12.9%)
- Inorganic chemicals: -$190.8 million (Up by 89.4%)
Zambia has highly negative net exports and therefore deep international trade deficits under the machinery including computers product category.
Zambian Export Companies
Not one Zambian corporation ranks on the Forbes Global 2000 of biggest businesses.
Wikipedia lists exporters from Zambia including companies engaged in international trade. Selected examples are shown below.
- Chilanga Cement (cement, cement clinker)
- Konkola Copper Mines (copper mining, smelter)
- Zambeef Products (beef, milk, eggs)
- Zambezi Airlines (airliner)
- Zambian Breweries Plc (lagers, bottling)
- ZCCM Investments Holdings (copper-mining conglomerate)
In macroeconomic terms, Zambia’s total exported goods represent 15.2% of its overall Gross Domestic Product for 2022 ($77 billion valued in Purchasing Power Parity US dollars). That 15.2% for exports to overall GDP in PPP for 2022 compares to 16.2% for 2021. Those percentages suggest a relatively decreasing reliance on products sold on international markets for Zambia’s total economic performance, albeit based on a short timeframe.
Another vital economic indicator is Zambia’s unemployment rate, which decreased from an average 6.22% for 2021 to the average 6.13% jobless rate for 2022.
Zambia’s capital city is Lusaka.
See also Uganda’s Top 10 Exports, Nigeria’s Top 10 Exports, South Africa’s Top 10 Exports and Zambia’s
Research Sources:
Central Intelligence Agency, The World Factbook Africa: Zambia. Accessed on June 5, 2023
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on June 5, 2023
International Monetary Fund, Exchange Rates selected indicators (Domestic Currency per U.S. dollar, period average). Accessed on June 5, 2023
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on June 5, 2023
International Trade Centre, Trade Map. Accessed on June 5, 2023
Investopedia, Net Exports Definition. Accessed on June 5, 2023
Wikipedia, Gross domestic product. Accessed on June 5, 2023
Wikipedia, List of Companies of Zambia. Accessed on June 5, 2023
Wikipedia, Purchasing power parity. Accessed on June 5, 2023
Wikipedia, Zambia. Accessed on June 5, 2023