ZamStats
January 4, 2023
Economy Grows by 5.3% in the Third Quarter of 2022
Year on Year Quarterly Growth Q3 2022 GDP
Gross Domestic Product (GDP) estimates for the third quarter of 2022 show that the economy grew by 5.3 percent from 3.3 percent in the third quarter of 2021. This represents a 2.0 percent increase in growth compared to the same quarter in 2021. These estimates are based on the year- on-year comparison of GDP at constant 2010 prices (see Figure 1).
Figure 1: Quarterly GDP Growth Rates at Constant 2010 Prices, Q1 2021 – Q3** 2022
Industry Contribution to the 5.3 % growth in Q3 2022
The growth was mainly attributed to the performance of the following industries: Wholesale and retail trade (1.2%), Information & communication (1.2%), Transport & storage (1.1%), Education (0.9%), Accommodation and food service (0.5%) and Manufacturing (0.4%). However, negative growth rates were recorded in the Construction industry (-1.3%), and Agriculture, forestry & fishing (-0.1 %) (see Table 1).
Table 1: Gross Value-Added Growth Rates and Contribution to Growth at Constant 2010 Prices, Q3 2022 (%)
|
Industries |
Growth Rates | Contribution to growth | ||
| Q1* | Q2* | Q3** | Q3** | |
| Agriculture, forestry and fishing | -5.1 | -4.0 | -1.3 | -0.1 |
| Mining and quarrying | -8.8 | -5.1 | 0.7 | 0.1 |
| Manufacturing | -2.8 | 11.7 | 5.1 | 0.4 |
| Electricity, gas, steam and air conditioning supply | 9.7 | 7.0 | 11.5 | 0.2 |
| Water supply; sewerage, waste management and remediation activities | 4.0 | 4.7 | 10.3 | 0.0 |
| Construction | -8.3 | -10.3 | -11.2 | -1.3 |
| Wholesale and retail trade; repair of motor vehicles and motorcycles | -0.3 | -7.1 | 6.2 | 1.2 |
| Transportation and storage | 3.4 | 19.6 | 23.7 | 1.1 |
| Accommodation and food service activities | 14.6 | 39.3 | 34.8 | 0.5 |
| Information and communication | 17.7 | 10.8 | 16.6 | 1.2 |
| Financial and insurance activities | -2.4 | 0.0 | -0.1 | 0.0 |
| Real estate activities | 3.7 | 3.7 | 3.7 | 0.1 |
| Professional, scientific and technical activities | -5.7 | -6.2 | 1.4 | 0.0 |
| Administrative and support service activities | -4.0 | -5.2 | 2.4 | 0.0 |
| Public administration and defense; compulsory social security | 43.6 | 38.5 | 2.8 | 0.1 |
| Education | 29.5 | 26.5 | 14.4 | 0.9 |
| Human health and social work activities | -0.4 | -1.6 | 2.8 | 0.1 |
| Arts, entertainment and recreation | 41.4 | 114.6 | 99.1 | 0.2 |
| Other service activities | 3.7 | 3.7 | 3.7 | 0.0 |
| Total Gross Value Added for the economy | 2.5 | 3.9 | 5.2 | 4.9 |
| Taxes less subsidies | -0.3 | -7.1 | 6.2 | 0.3 |
| Total for the economy, at market prices | 2.3 | 3.4 | 5.3 | 5.3 |
Industry Growth rates in the third quarter of 2022
At industry level, the highest growth rates were recorded in Arts, entertainment & recreation (99.1%), Accommodation and food services (34.8%), Transport & storage (23.7%), Information & Communication (16.6%) Education (14.4%), and Electricity (11.5%). On the other hand, negative growth rates were recorded in the following in Construction (-11.2%), Agriculture, forestry and fishing (-1.3%) and in the Financial and Insurance services (-0.1) (see Table 1).
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