Zambia’s economy grew by five percent in the third quarter of 2018 compared to 4.5 percent recorded in the same period in 2017.
The Central Statistical Office (CSO) bulletin for the month of December indicates the 0.5 percentage points increase compared to 4.5 percent recorded in the third quarter in 2017.
CSO Acting Director of Census and Statistics Goodson Sinyenga said the percentage growth is according to the year on year comparison of the gross domestic product (GDP).
Mr. Sinyenga said the financial and insurance activities recorded the highest growth with 36.6 percent in the period under review.
He disclosed that the information and communication industry followed at 31.6 percent with the arts, entertainment and recreation industry coming third at 21.0 percent.
“The agriculture, forestry and fishing industry has continued to record negative growths in the third quarter of 2018 at 15.4 percent,” he said.
Mr. Sinyenga pointed out that during the first three quarters of 2018, the economy grew by 3.9 percent compared to 3.6 percent recorded in the first quarter of 2017.
On the labour market, Mr. Sinyenga said 3,398,294 people are in the labour force, of which 2,971,170 are employed.
He said 60.1 percent of the labour force are male and 39.9 percent are female, adding that 60.1 percent of the labour force is in urban areas while 39.9 percent in rural areas.