Zambia’s economy grew 5.6% in Q4; Arts, Entertainment highest contributors —Musepa

Zambia’s economy posted 5.6 percent growth in the fourth quarter of 2022, up from 5.5 percent the previous year.

This is according to the Gross Domestic Product (GDP) estimates for the fourth quarter of 2022 released by the Zambia Statistics Agency (ZamStats).

At a media briefing held in Lusaka on Thursday, interim Statistician General, Mulenga Musepa said this represented a 0.1 percentage points growth compared to the corresponding period of 2021.

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Musepa said this is based on the year-on-year comparison of GDP at constant 2010 prices.

He stated that the growth recorded in the fourth quarter of 2022 was mainly attributed to the positive performance of five industries which posted positive contributions to overall growth.

Musepa said these were education accounting for 1.6 percent, transport and storage at 1.5 percent, information and communication at 1.3 percent, financial and insurance at 0.6 percent and wholesale and retail trade, 0.5 percent.

“At industry level, the year-on-year comparison of GDP at constant 2010 prices show that the highest growth rates in the fourth quarter were recorded in the Arts, entertainment and recreation at 97.6 percent, transport and storage 35.1 percent.

“Education at 27.0 percent, accommodation at 22.2 percent, health (16.9 percent) and information and communication (15.2 percent) industries,” Musepa said.

He said a negative growth was recorded in six industries, such as service activities, construction, mining and quarrying and public administration.

Musepa further indicated that the preliminary annual GDP show the economic activities grew by 4.7 percent, from K144,090 million in 2021 to K150,927.40 million in 2022.

He said the fastest growing industry in 2022 was arts, entertainment and recreation, followed by education.

Others were transport and storage, accommodation and information and communication.

Musepa indicated that the industries that shrunk were construction, administrative and support, mining and quarrying and agriculture, forestry and fishing.

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