That dollar amount reflects a 51.3% upturn from $7 billion 5 years earlier in 2019.
Year over year, the overall value of Zambia’s exported products declined by -9.9% compared to $11.7 billion starting in 2022.
Applying a continental lens, 42.8% of Zambia’s exports by value was delivered to European countries while 29.8% was sold to importers located in Africa. Zambia shipped another 26.2% worth of goods to customers in Asia.
Smaller percentages went to buyers in North America (1%), Oceania (0.02%) Australia and New Zealand only, then Latin America (0.01%) excluding Mexico but including the Caribbean.
Zambia’s Top Trading Partners
Below is a list showcasing 25 of Zambia’s top trading partners in terms of export sales. That is, countries that imported the most Zambian shipments by dollar value during 2023. Also shown is each import country’s percentage of total Zambian exports.
- Switzerland: US$4.4 billion (41.4% of total Zambian exports)
- mainland China: $1.9 billion (17.7%)
- Democratic Republic Congo: $1.6 billion (15.4%)
- Singapore: $567.4 million (5.4%)
- South Africa: $394.9 million (3.7%)
- Zimbabwe: $300.1 million (2.8%)
- Botswana: $181.5 million (1.7%)
- Namibia: $150 million (1.4%)
- Tanzania: $139.4 million (1.3%)
- Malawi: $137.3 million (1.3%)
- Hong Kong: $108.2 million (1%)
- India: $94.9 million (0.9%)
- United States: $56.6 million (0.5%)
- Kenya: $50.7 million (0.5%)
- Canada: $50.4 million (0.5%)
- United Arab Emirates: $37.6 million (0.4%)
- Pakistan: $34.7 million (0.3%)
- Italy: $34.3 million (0.3%)
- Mozambique: $33.8 million (0.3%)
- Luxembourg: $29 million (0.3%)
- Spain: $24.9 million (0.2%)
- Burundi: $23.5 million (0.2%)
- Uganda: $22.8 million (0.2%)
- Netherlands: $21.6 million (0.2%)
- Mauritius: $20.8 million (0.2%)
At 98.4%, a high concentration of Zambian exports in 2023 was delivered to the above 25 trade partners.
Posting the greatest percentage increases in their purchases of exported goods from Zambia were Canada (up 15,938% from 2022), Mozambique (up 13,141%), Malawi (up 4,755%), Tanzania (up 2,643%) then Botswana (up 189.4%).
Double-digit declines were recorded by buyers in mainland China (down -22.6% from 2022) and Burundi (down -11.4%).
Countries Causing Largest Zambian Trade Deficits
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.
It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
Zambia incurred the highest trade deficits with the following countries.
- South Africa: -US$2.2 billion (country-specific trade deficit in 2023)
- United Arab Emirates: -$801 million
- Japan: -$544.2 million
- India: -$478.7 million
- Saudi Arabia: -$320.3 million
- Bahrain: -$270.4 million
- United States: -$199.4 million
- Mauritius: -$172.1 million
- Tanzania: -$150.2 million
- Qatar: -$114 million
Among Zambia’s trading partners that cause the greatest negative trade balances, Zambian deficits with Belgium (up 23.1%) and the United States of America (up 4.2%) grew from 2022 to 2023.
In addition, Zambia reversed surpluses trading in 2022 with Tanzania ($5.1 million surplus) and Bahrain ($432,000 surplus) to recording the multi-million-dollar deficits listed above for 2023.
These cashflow deficiencies clearly indicate Zambia’s competitive disadvantages with the above countries, but also represent key opportunities for Zambia to develop country-specific strategies to strengthen its overall position in international trade.
Countries Generating Largest Zambian Trade Surpluses
Overall Zambia posted a US$308.7 million trade surplus during 2023, shrinking by -88.3% from $2.64 billion in black ink for 2022.
Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
Zambia earned the highest trade surpluses with the following countries.
- Switzerland: US$4.3 billion (country-specific trade surplus in 2023)
- Democratic Republic Congo: $1.4 billion
- mainland China: $213.9 million
- Zimbabwe: $199 million
- Singapore: $193.1 million
- Botswana: $157.8 million
- Malawi: $108 million
- Hong Kong: $65.9 million
- Luxembourg: $28.3 million
- Canada: $28 million
Among Zambia’s trading partners that generate the greatest positive trade balances, Zambian surpluses with Angola (up 9,326%), Democratic Republic of the Congo (up 53.6%) and Zimbabwe (up 13.7%) grew from 2022 to 2023.
Zambia also transitioned from a -$4.96 million deficit in 2022 trading with Botswana to generating the trade surplus listed above.
These positive cashflow streams clearly indicate Zambia’s competitive advantages with the above countries, but also represent key opportunities for Zambia to develop country-specific strategies to optimize its overall position in international trade.
Companies Servicing Zambian Trading Partners
Not one Zambian corporation ranks among Forbes Global 2000.
Wikipedia lists exporters from Zambia including companies engaged in international trade. Selected examples are shown below.
- Chilanga Cement (cement, cement clinker)
- Konkola Copper Mines (copper mining, smelter)
- Zambeef Products (beef, milk, eggs)
- Zambezi Airlines (airliner)
- Zambian Breweries Plc (lagers, bottling)
- ZCCM Investments Holdings (copper-mining conglomerate)
See also Uganda’s Top 10 Exports, Nigeria’s Top 10 Exports, South Africa’s Top 10 Exports and Zambia’s Top 10 Exports
Research Sources:
Central Intelligence Agency, The World Factbook Africa: Zambia. Accessed on December 21, 2024
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on December 21, 2024
International Trade Centre, Trade Map. Accessed on December 21, 2024
Investopedia, Net Exports Definition. Accessed on December 21, 2024
Wikipedia, List of Companies of Zambia. Accessed on December 21, 2024
Wikipedia, Zambia. Accessed on December 21, 2024