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News
Home Uncategorized Economy Grows by 3.5% in Q2 of 2022
Uncategorized
ZamStats September 29, 2022

Economy Grows by 3.5% in Q2 of 2022

Gross Domestic Product estimates for the second quarter of 2022 show that the economy grew by 3.5 percent from 8.4 percent in the second quarter of 2021, a fall of 4.9 percentage points. These estimates are based on the year- on-year comparison of GDP at constant 2010 prices (see Figure 2).

 

Figure 2: Quarterly GDP Growth Rates at Constant 2010 Prices, Q1 2020- Q2** 2022 (%)

Industry Contribution to the 3.5 % growth in Q2 2022

The growth was mainly attributed to the performance of the following industries: Public Administration (1.6 PPT), Education (1.6 PPT), Manufacturing (1.1 PPT). Information & communication (0.8 PPT), Transport & storage (0.8 PPT) and Accommodation and food service activities (0.8 PPT). However, negative growth rates were recorded in the Wholesale & retail trade (1.2 PPT), Construction (1.1 PPT), Mining & quarrying (0.5 PPT), and Agriculture, forestry & fishing (0.3 PPT) (see Table 4).

Table 4: Industry Growth Rates and Contribution to Growth at Constant 2010 Prices, Q2 2022 (%)
 

 

Industries

Growth Rates Q2

Contribution to growth (PPT)

2021 2022
Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022
Agriculture, forestry and fishing 5.5 5.8 6.8 9.7 -5.1 -4.0 -0.3
Mining and quarrying -2.2 -7.6 -9.3 -5.7 -8.8 -5.1 -0.5
Manufacturing -3.1 9.2 5.6 4.1 -2.8 11.7 1.1
Electricity, gas, steam and air conditioning supply 14.1 12.2 9.9 14.7 9.7 7.0 0.1
Water supply; sewerage, waste management and remediation activities 4.6 2.9 1.6 1.4 4.0 4.7 0.0
Construction 15.9 22.6 9.6 11.3 -8.8 -10.7 -1.1
Wholesale and retail trade; repair of motor vehicles and motorcycles 3.9 9.2 -3.0 0.5 -0.3 -7.1 -1.2
Transportation and storage 3.5 1.0 11.0 19.4 3.4 19.6 0.8
Accommodation and food service activities -3.4 10.4 13.4 7.7 6.3 45.6 0.8
Information and communication 23.6 21.6 17.5 18.3 17.7 10.8 0.8
Financial and insurance activities 20.2 5.0 6.9 -5.7 -2.4 0.0 0.0
Real estate activities 3.6 3.6 3.6 3.7 3.7 3.7 0.1
Professional, scientific and technical activities 1.7 6.0 -0.9 1.3 -5.7 -6.2 -0.1
Administrative and support service activities 1.6 11.3 1.7 1.4 -4.1 -5.2 -0.1
Public administration and defense; compulsory social security -20.9 0.1 11.6 12.1 43.6 38.5 1.6
Education -21.5 20.5 4.2 3.6 29.5 26.5 1.6
Human health and social work activities 5.0 3.0 1.6 0.5 -0.4 -1.6 0.0
Arts, entertainment and recreation -44.2 45.7 85.1 40.1 41.4 114.6 0.2
Other service activities 3.6 3.6 3.6 3.7 3.7 3.7 0.0
Total Gross Value Added for the economy 1.7 8.3 3.7 5.2 2.3 4.0 3.8
Taxes less subsidies 3.9 9.2 -3.0 0.5 -0.3 -7.1 -0.3
Total for the economy, at market prices 1.8 8.4 3.3 5.0 2.2 3.5 3.5

Read more

  • Vol-238-of-2023-The-Monthly-January.pdf
9
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