Source: world bank Nominal/PPP
Summary:
Zambia GDP Per Capita expanded from 1960 to 2024, increasing from $221.56 to $1,187.11 .The compound annual growth rate (CAGR) averaged 2.66% over the period. The economy recorded its peak level in 2013 and its lowest level in 1962. Growth volatility remained high. The maximum drawdown reached 64.44%, indicating the largest cyclical decline from peak levels. The country experienced 14 recession episode(s) during the observed period.
Zambia Economic Phases (1960 - 2024)
From 1960 to 2024, Zambia economy moved through multiple cyclical phases marked by alternating periods of rapid expansion and contraction.
- Contraction (1961–1962) indicating temporary slowdown
- High Growth (1964–1966) indicating robust economic expansion
- High Growth (1968–1969) indicating robust economic expansion
- High Growth (1972–1974) indicating robust economic expansion
- High Growth (1978–1980) indicating robust economic expansion
- Crisis (1983–1986) indicating severe economic downturn
- High Growth (1987–1988) indicating robust economic expansion
- High Growth (2003–2008) indicating robust economic expansion
- High Growth (2010–2013) indicating robust economic expansion
- Crisis (2019–2020) indicating severe economic downturn
- High Growth (2021–2022) indicating robust economic expansion
- Crisis (2024–2024) indicating severe economic downturn
The most remarkable growth occurred in 1988 with an increase of 60.154%, while the largest decline was in 1986 at -28.28%.