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Analysis by Region - Africa

Publisher Oxford Economics
Published Dec 05, 2025
Length 7 Pages
SKU # OFE20650308

Description

Zambia is favourably positioned to benefit from global commodity price movements. The simultaneous surge in copper prices and suppression of oil prices lifted the country's terms of trade in recent months. Private sector conditions continue to improve, underpinned by a firming demand-side economy. We expect strengthening consumer purchasing power, increased mining sector output, higher domestic power generation, and improved agricultural production to support Zambia's GDP growth in 2026. Our favourable outlook for the agricultural season is based on the strong probability of above-typical precipitation due to the return of the La Niña weather pattern, which is predicted to last through February 2026.

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7 Pages
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