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Fourth Quarter 2024 GDP Economy expands by 8.6 percent

Gross Domestic Product (GDP) estimates for the fourth quarter of 2024 show that the economy grew by 8.6 percent from 7.8 percent in the fourth quarter of 2023.  This represents an increase of growth of 0.8 percent compared to the same quarter in 2023.

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 2023 – Q4** 2024

 Source: ZamStats, 2025

 

Table 1: Industry Contribution to the 8.6 % Growth in Q4 2024

 

2023 Growth rates

2024 Growth rates

Contribution to Growth

Industry

Q1

Q2

Q3

Q4

Q1*

Q2*

Q3*

Q4*

Q4**

Agriculture, forestry and fishing

-15.8

-24.5

-19.8

-22.5

-26.7

-12.8

-17.3

27.6

1.1

Mining and quarrying

-10.9

-1.0

4.6

-7.4

11.3

-4.4

3.0

26.8

2.1

Manufacturing

7.0

2.5

2.7

6.8

4.0

-2.7

1.4

8.1

0.6

Electricity

-4.0

10.5

-1.9

-4.8

-2.5

-15.4

-44.3

-50.9

-0.9

Water supply

4.5

2.0

0.9

1.6

3.6

-3.0

-36.7

-11.2

0.0

Construction

-4.7

-1.9

4.2

9.2

0.4

9.4

13.0

2.8

0.2

Wholesale and retail trade

-1.3

-3.9

-0.2

7.2

-0.2

-2.3

-1.0

-0.1

0.0

Transportation and storage

6.1

18.9

2.6

6.1

1.6

2.4

4.0

9.1

0.5

Accommodation and food services

90.7

53.2

39.7

53.0

40.4

8.7

3.0

2.0

0.1

Information and communication

19.5

13.3

6.3

24.6

12.3

11.4

11.8

27.4

3.9

Financial and insurance

20.5

21.8

18.8

30.2

14.6

12.3

12.6

3.1

0.2

Real estate activities

0.8

0.2

0.2

0.8

1.9

2.8

3.4

3.7

0.1

Professional, scientific and technical

16.9

12.3

27.5

26.0

2.5

5.3

4.3

11.0

0.2

Administrative and support service

28.9

10.4

11.0

-17.1

-33.9

-18.4

-18.5

-16.2

-0.1

Public administration and defense

-0.9

0.9

2.8

5.6

9.3

11.2

10.2

7.5

0.3

Education

18.0

19.7

10.4

-3.1

-1.8

2.5

3.4

3.9

0.2

Human health

26.9

37.0

33.1

14.5

11.4

7.9

5.2

4.7

0.1

Arts, entertainment and recreation

-8.5

26.7

31.7

-5.7

-1.9

19.6

24.3

4.3

0.0

Other service activities

12.4

9.4

-7.5

-0.8

17.8

-9.4

-9.0

-11.9

-0.1

Total Gross Value Added for the economy

3.8

4.6

4.9

7.5

2.1

2.0

3.2

9.1

8.6

Taxes less subsidies

4.8

4.1

8.6

15.2

4.3

-0.2

-0.3

-0.1

0.0

Total for the economy, at market prices

3.8

4.6

5.0

7.8

2.2

1.9

3.0

8.6

8.6

The growth was mainly attributed to the performance of the following industries; Information and communication (3.9%), Mining and quarrying (2.1%) and Agriculture, forestry and fishing (1.1%), Manufacturing (0.6%) and Transportation and Storage (0.5%).

Read more>>Vol 264 of 2025 The Monthly March

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