Zambia Economy Expands 7.2% in Q2 as Inflation Eases to 6.1%
Zambia GDP Grows 7.2% in Q2 2026 as September Inflation Falls to 6.1%
Zambia’s economy grew by 7.2% in the second quarter of 2026, supported by strong performance in information and communication, agriculture, construction, mining and manufacturing.
The latest figures from the Zambia Statistics Agency (ZamStats) showed that quarterly growth was 0.7 percentage points lower than the 7.9% recorded during the same period in 2025.
Despite the slowdown, the performance remained above the Government’s 2026 real GDP growth target of 6.4%.
Information and communication made the largest contribution to growth at 2.1 percentage points, followed by agriculture, forestry and fishing at 1.4 percentage points, construction at 1.2 percentage points, mining and quarrying at 1.1 percentage points, and manufacturing at 0.4 percentage points.
At industry level, agriculture, forestry and fishing recorded the fastest growth at 26.5%, followed by administrative and support services at 24.9%, electricity, gas, steam and air-conditioning supply at 19.8%, information and communication at 16%, construction at 15.2%, water supply at 14.9% and mining and quarrying at 13.1%.
GDP at current prices was estimated at K222.27 billion during the quarter, compared with K195.59 billion in the second quarter of 2025.
Meanwhile, annual inflation eased further to 6.1% in September from 6.2% in August, with food inflation declining to 5.8% while non-food inflation remained at 6.6%. The latest inflation rate was the lowest recorded since February 2018.
The moderation in inflation has been supported by slower food-price increases and a stronger kwacha, while temporary measures including the suspension of fuel taxes and zero-rating of VAT have also helped contain price pressures. Both measures were scheduled to expire on September 30.
Zambia’s economy grew by 5.4% for the full year in 2025, up from 3.8% in 2024, with information and communication, agriculture, mining, construction and transport among the main contributors.
The latest figures point to continued expansion in economic activity, although the Government faces the challenge of sustaining growth while addressing pressures in energy, agriculture and other productive sectors.
