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 |
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