Country profile
Zambia
Sub-Saharan Africa · Lower-middle income · Capital: Lusaka
Key figures, 2024
FDI inflows 2024
$2.4 bn
Inflows % of GDP
9.3%
FDI outflows
$311 m
Net FDI
$2.0 bn
FDI % of investment
43.2%
In 2024, Zambia recorded FDI net inflows of $2.4 bn, up 268% from $641 m in 2023. That is 569% above its 2019–2023 average of $353 m. By value, that ranks 66th of 195 economies with data for 2024. This is the highest annual inflow in a series that begins in 1970. Inflows were equivalent to 9.3% of GDP in 2024 — above the Sub-Saharan Africa aggregate (2.3%) and above the world as a whole (1.4%).
About this summary
Generated automatically from World Bank data. Figures are balance-of-payments net flows in current US$; 2024 is the latest year with broad coverage across economies.Trends
FDI flows over time
Net flows, current US$ (balance-of-payments basis)
- Inflows
- Outflows
Source: World Bank, World Development Indicators (CC BY 4.0). Indicators BX.KLT.DINV.CD.WD and BM.KLT.DINV.CD.WD.
Zambia compared with its region and the world
- Zambia
- Sub-Saharan Africa (aggregate)
- World
Source: World Bank, World Development Indicators (CC BY 4.0). Indicator BX.KLT.DINV.WD.GD.ZS.
FDI vs remittances, aid and portfolio equity, current US$
- FDI inflows
- Remittances
- Aid (ODA)
- Portfolio equity
FDI is only one of the ways foreign money reaches an economy. For many developing economies, remittances from workers abroad or official aid are larger and more stable; portfolio equity is typically the most volatile.
Source: World Bank, World Development Indicators (CC BY 4.0). Indicators BX.KLT.DINV.CD.WD, BX.TRF.PWKR.CD.DT, DT.ODA.ODAT.CD, BX.PEF.TOTL.CD.WD.
Economy at a glance
The economy behind the investment
The macroeconomic, trade and workforce indicators investors and trade officials look at alongside FDI — latest year, 15-year trend and regional and world benchmarks.
| IMF World Economic Outlook | 2024 | 2025 | 2026forecast | 2027forecast | 2028forecast |
|---|---|---|---|---|---|
| Real GDP growth | 3.8% | 3.8% | 4.3% | 4.7% | 5.1% |
| Inflation | 15.0% | 13.9% | 9.0% | 8.0% | 7.0% |
| Current account, % GDP | −4.4% | −3.5% | 0.9% | 1.9% | 2.1% |
| Fiscal balance, % GDP | −3.5% | −3.8% | −4.9% | −4.4% | −3.1% |
| Government gross debt, % GDP | 125.2% | 86.0% | — | — | — |
Source: IMF World Economic Outlook via the IMF DataMapper API. Years from 2026 are IMF projections; recent years may be estimates and are revised in each WEO round (April and October).
Size & growth
GDP
$28.9 bn2025
115th of 186
GDP per capita
$1,3182025
165th of 186Region $1,673World $14,406
GNI per capita (PPP)
$3,9902025
160th of 181Region $5,616World $25,517
Population
21.9 m2025
61st of 217
Population growth
2.8%2025
20th of 217Region 2.4%World 0.9%
Trade & structure
Exports of goods & services
$8.9 bn2024
109th of 171
Imports of goods & services
$7.0 bn2024
125th of 171
Trade openness (% of GDP)
62.5%2024
115th of 172Region 55.7%World 56.7%
Manufacturing, % of GDP
8.7%2025
87th of 132Region 9.6%World 14.9%
Services, % of GDP
57.0%2025
81st of 158Region 50.2%World 63.3%
High-tech exports, % of manufactured exports
1.5%2024
110th of 125Region 6.0%World 24.7%
Workforce & innovation
Labour force
8.0 m2025
65th of 182
R&D expenditure, % of GDP
0.3%2008
64th of 97Region 0.4%World 2.0%
Internet users, % of population
17.1%2024
176th of 182Region 33.6%World 71.2%
Source: World Bank, World Development Indicators. Latest available year shown for each indicator; ranks are among economies reporting that year (highest = 1st). Region = World Bank regional aggregate. Growth, inflation, unemployment, the current account and government debt are shown in the IMF table above where the IMF covers the economy.
Who invests
Source and destination economies
Direct investment positions (stocks) by immediate counterpart economy, as reported to the OECD.
No bilateral positions for this economy
Structure & policy
Sectors and FDI openness
Inward FDI positions by sector
No sector breakdown
FDI Regulatory Restrictiveness
IndexNot covered by the index
Peers
Similar-sized economies in Sub-Saharan Africa
The six economies in the same World Bank region with the closest GDP, ranked by FDI inflows as a share of GDP (2024).
- 🇲🇿Mozambique15.4%
- 🇿🇲Zambia9.3%
- 🇸🇳Senegal6.3%
- 🇬🇳Guinea5.6%
- 🇲🇱Mali3.4%
- 🇧🇯Benin2.5%
- 🇧🇫Burkina Faso−0.9%
Sources & notes
World Bank, World Development Indicators
- FDI net inflows —
BX.KLT.DINV.CD.WD - FDI net outflows —
BM.KLT.DINV.CD.WD - FDI net inflows, % of GDP —
BX.KLT.DINV.WD.GD.ZS - Gross fixed capital formation —
NE.GDI.FTOT.CD - Personal remittances received —
BX.TRF.PWKR.CD.DT - Net official development assistance received —
DT.ODA.ODAT.CD - Portfolio equity net inflows —
BX.PEF.TOTL.CD.WD - Real GDP growth —
NY.GDP.MKTP.KD.ZG - Inflation (annual average) —
FP.CPI.TOTL.ZG - Unemployment rate —
SL.UEM.TOTL.ZS - Current account balance, % of GDP —
BN.CAB.XOKA.GD.ZS - Exports of goods & services —
NE.EXP.GNFS.CD - Central government debt, % of GDP —
GC.DOD.TOTL.GD.ZS
OECD: FDI statistics by partner economy and by industry (Benchmark Definition, 4th edition) and the FDI Regulatory Restrictiveness Index.
Flows vs positions. Charts on this page show annual balance-of-payments flows. Bilateral and sector figures are positions (accumulated stocks) and are not directly comparable.
Negative values. Net flows can be negative when foreign investors withdraw capital or intra-company loans are repaid faster than new investment arrives.
Timing. Headline figures use 2024, the latest year with broad coverage across economies; charts also show any newer early estimates. Rankings cover economies only, not aggregates.
Counterparts. Bilateral data record the immediate counterpart, so financial centres and conduit economies can appear larger than the ultimate investors behind them.