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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%).