President Hakainde Hichilema says Zambia’s economy has recorded significant progress over the past five years, pointing to increased investment, strong Gross Domestic Product growth and a positive trade balance as key indicators of economic improvement. Speaking in a special interview with the Zambia National Broadcasting Corporation ahead of the 2026 General Election, the President outlined several measures his administration has pursued to strengthen Zambia’s productive capacity and attract investment. He said targeted investment in critical sectors, particularly mining and energy, has helped expand economic activity while supporting broader national development objectives. According to the President, Zambia’s GDP increased from approximately US$19 billion in 2021 to about US$40 billion in 2026. He also highlighted an economic growth rate of 7.8 percent and a positive external trade balance, with exports exceeding imports during the period under review.
President Hichilema said investment in mining has played an important role in efforts to expand Zambia’s economic base and increase productive activity. Mining remains one of the country’s most important economic sectors, with copper and other mineral resources contributing significantly to exports and foreign exchange earnings. The Government has sought to encourage greater investment in the sector while positioning Zambia to benefit more from its mineral resources. Increased investment can support production, create opportunities for businesses and contribute to government revenue when supported by effective policies and responsible resource management. The President’s comments suggest that mining investment remains central to the Government’s broader strategy of achieving sustained economic growth and strengthening Zambia’s position in international markets.
Energy investment was also identified as a key component of the country’s economic transformation efforts. Reliable and sufficient energy supply is essential for mining operations, manufacturing, agriculture, businesses and households, making the sector closely connected to wider economic performance. Investment in energy infrastructure can help improve productive capacity while creating conditions for businesses to expand their operations. Zambia has faced significant challenges in the energy sector, particularly around electricity supply, making investment and diversification important parts of the country’s economic agenda. By highlighting energy alongside mining, the President emphasised the need to strengthen the infrastructure that supports economic activity across multiple sectors.
The President said Zambia’s GDP had grown from approximately US$19 billion in 2021 to about US$40 billion in 2026, representing a substantial increase in the size of the economy over the period under review. GDP provides one measure of the value of economic activity within a country and is commonly used to assess changes in the size and performance of an economy. Hichilema presented the increase as evidence of progress under his administration and linked it to broader efforts to attract investment and expand productive capacity. He also cited an economic growth rate of 7.8 percent as another important indicator of the country’s performance. While GDP growth alone does not determine whether every household experiences improved living standards, sustained expansion can create greater opportunities when supported by employment, investment and inclusive economic policies.
Trade performance was another area highlighted by the President during the interview. He said Zambia recorded a positive external trade balance, meaning the value of goods and services exported exceeded the value of imports during the period under review. A positive trade balance can contribute to stronger foreign exchange availability and reflects the ability of an economy to generate export earnings from its productive sectors. Zambia’s mining industry has traditionally been a major contributor to export revenues, while the Government has also expressed interest in expanding the range of products and services sold to regional and international markets. Increasing exports beyond traditional commodities could help Zambia strengthen its resilience and create greater opportunities for local businesses to participate in international trade.
“These developments demonstrate progress in strengthening our economic fundamentals, improving the investment environment, and positioning Zambia to participate more effectively in regional and international trade,” the President said. His remarks reflect the Government’s argument that economic transformation requires more than short-term growth and must involve changes that improve Zambia’s productive capacity. A stronger investment environment can encourage both domestic and international businesses to commit capital to new projects, expand existing operations and develop new products. Greater participation in regional and international trade can also give Zambian companies access to larger markets and create opportunities for increased production. These objectives form part of a broader effort to move the economy towards greater competitiveness and stronger participation in global value chains.
President Hichilema said Government remains focused on economic transformation through increased investment, enhanced productive capacity, trade expansion and greater private-sector participation. The emphasis on private-sector involvement reflects the role businesses play in creating jobs, developing products, investing in infrastructure and expanding economic activity. Government policies can create an enabling environment, but long-term economic transformation also depends on companies being willing and able to invest and grow. Greater productive capacity could allow Zambia to produce more goods locally, reduce dependence on certain imports and increase the volume and diversity of exports. The combination of investment, trade and private-sector participation therefore remains central to the Government’s stated economic strategy.
The Ministry of Commerce, Trade and Industry has also identified positive investment flows, economic growth and improved trade performance as important to Zambia’s industrialisation agenda. Industrialisation can create opportunities for businesses to move beyond the export of raw materials by developing processing and manufacturing activities within the country. Expanding market opportunities would allow Zambian businesses to reach more consumers locally and internationally while increasing their potential to scale operations. Stronger participation in regional and global value chains could also enable local companies to supply products and services to larger international industries. These efforts could help create a more diversified economy in which economic opportunities extend across mining, manufacturing, agriculture, services and other productive sectors.
The President’s special interview provided an opportunity to reflect on Zambia’s economic performance over the past five years as the country approached the 2026 General Election. His assessment focused heavily on measurable economic indicators, including GDP growth, investment, energy and mining activity and trade performance. The Government’s challenge will be to ensure that these macroeconomic gains translate into practical benefits for businesses, workers and households across the country. Economic growth becomes more meaningful when it supports job creation, improves incomes, strengthens public services and creates sustainable opportunities for citizens. As Zambia moves into the next phase of its development, maintaining growth while broadening participation in the economy will remain an important policy priority.
Zambia’s economic performance will continue to be closely watched as the country assesses the results of policies implemented over the past five years and considers its future development path. President Hichilema has presented the increase in GDP, 7.8 percent growth rate, stronger investment and positive trade balance as evidence that the economy has made significant progress. The Government is now seeking to build on those gains through further investment, stronger productive capacity, expanded trade and increased private-sector participation. For Zambia to sustain this progress, it will need to continue attracting investment while supporting local businesses and expanding opportunities across different sectors of the economy. The economic record highlighted by the President therefore provides an important part of the wider national conversation as voters consider the country’s achievements, challenges and priorities ahead of the 2026 General Election.