Zambia's Economy Grows 7.2% in Second Quarter as Inflation Eases to 6.1%

Zambia's economy grew by 7.2% in the second quarter of 2026, according to preliminary estimates released today by the Zambia Statistics Agency (ZamStats).

Statistician-General Ms Sheila S. Mudenda presented the September statistics release, which also showed inflation continuing to ease. Annual inflation slowed to 6.1% in September, down from 6.2% in August. Food inflation stood at 5.8%, below the headline rate, while non-food inflation was higher at 6.6%.

ZamStats also revised its figure for the country's economic growth in 2025 sharply upwards, to 5.5%. That compares with a preliminary estimate of 3.8% and with growth of 3.8% in 2024, which puts last year's performance well ahead of the year before.

Trade figures added to the picture. Zambia recorded a trade surplus of US$352 million in August, around K6.7 billion. That is up from K4.1 billion in July, meaning the country sold considerably more to the rest of the world than it bought.

Taken together, the figures point to an economy gaining momentum: faster growth, easing prices and a stronger trade position. Growth of 7.2% in the second quarter is well above both the revised 2025 figure and the 2024 rate.

For ordinary Zambians, lower inflation, and food inflation in particular, means household budgets stretch further, while stronger growth and trade support jobs and business activity