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Preliminary Annual GDP 2024

The Preliminary Annual Gross Domestic Product at constant 2010 prices for the year 2024 show that economic activities grew by 4.0 percent. The preliminary Annual GDP estimates are derived as the sum of the four quarters, the final GDP estimates for the year 2024 will be presented in the September 2025 monthly bulletin.

The preliminary GDP estimates show that the economy grew by 4.0 percent in 2024 compared to 5.4 percent in 2023. The Information & communication industry had the highest positive contribution at 1.8 percent while the Electricity supply industry had the highest negative impact on GDP growth at -0.5 percent (see Table 3).

The Industries with the highest growth rates were Information & communication activities (17.4%) followed by the Arts, entertainment & recreation (15.4%), Accommodation & food service activities came in third (11.1 %). Others were Financial and insurance activities (10.3%), Public administration and defense (9.5%), Mining and quarrying (8.8%) among others. In contrast, Electricity supply (-28.9%), Administrative   and   support   service activities (-23.9%), Water supply (12.2%) and Agriculture, forestry & fishing (-9.2%) shrunk in 2024.

 

Table 3: Annual Gross Domestic Product at Constant 2010 Prices, 2021- 2024

Industry

2021

2022

2023

2024

2023

2024

2024

GDP at Constant 2010 Prices

Growth rates

Contribution to growth

 Agriculture, forestry and fishing

11,086

9,909

7,882

7,155

-20.5

-9.2

-0.4

 Mining and quarrying

14,587

14,043

13,553

14,750

-3.5

8.8

0.7

 Manufacturing

13,193

13,814

14,440

14,777

4.5

2.3

0.2

 Electricity supply

2,624

2,872

2,868

2,040

-0.1

-28.9

-0.5

 Water supply

357

380

389

341

2.2

-12.2

0.0

 Construction

15,614

14,234

14,488

15,439

1.8

6.6

0.6

 Wholesale and retail trade

26,713

27,045

27,188

26,946

0.5

-0.9

-0.1

 Transportation and storage

5,986

7,687

8,304

8,672

8.0

4.4

0.2

 Accommodation and food service activities

1,670

2,918

4,518

5,022

54.9

11.1

0.3

 Information and communication

10,019

14,682

17,013

19,967

15.9

17.4

1.8

 Financial and insurance activities

7,774

7,630

9,379

10,349

22.9

10.3

0.6

 Real estate activities

5,226

5,373

5,399

5,557

0.5

2.9

0.1

 Professional, scientific and technical activities

2,747

2,713

3,256

3,446

20.0

5.8

0.1

 Administrative and support service activities

1,893

1,716

1,875

1,427

9.3

-23.9

-0.3

 Public administration and defense

6,877

7,146

7,294

7,988

2.1

9.5

0.4

 Education

8,870

10,699

11,916

12,140

11.4

1.9

0.1

 Human health and social work activities

2,632

2,523

3,210

3,441

27.3

7.2

0.1

 Arts, entertainment and recreation

207

335

383

442

14.3

15.4

0.0

 Other service activities

1,170

1,063

1,090

1,044

2.5

-4.2

0.0

Total for the economy

139,244

146,782

154,446

160,944

5.2

4.2

4.0

 Taxes less subsidies on products

7,100

7,189

7,789

7,851

8.4

0.8

0.0

Gross Domestic Product (GDP) at Purchasers Prices

146,344

153,970

162,235

168,795

5.4

4.0

4.0

 Source: ZamStats, 2025

 

Read more>>Vol 264 of 2025 The Monthly March

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