The Zambian government has said that the ongoing Gross Domestic Product (GDP) Rebasing Exercise will provide a more accurate reflection of Zambia’s economy, strengthen evidence-based policymaking, improve macroeconomic analysis, and enhance investor confidence.
This was made known during a GDP Rebasing information and communication forum held on the sidelines of the 60th Zambia International Trade Fair under the theme “GDP Rebasing Exercise: Why It Matters and Its Implications for Zambia,” the Statistician General of the Zambia Statistics Agency, Mrs. Sheila Mudenda said during her opening remarks that the Gross Domestic Product remains the most widely used measure of economic performance and serves as a critical tool for national budgeting, fiscal and monetary policy formulation, debt sustainability analysis, investment promotion, poverty reduction strategies, development planning, and monitoring progress towards national and global development goals.
Mrs. Mudenda explained that Zambia’s current GDP estimates are compiled using 2010 as the base year. While this benchmark accurately reflected the structure of the economy at the time, the country’s economic landscape has since undergone substantial transformation.
She cited growth in mining, construction, financial services, information and communication technology, the digital economy, and increased private sector activity among the developments that have reshaped the economy over the last fifteen years.
The Statistician General said that ZamStats selected 2023 as the new base year because it represents a relatively normal economic period, captures the current structure of the economy, and aligns with the availability of comprehensive benchmark data required for National Accounts compilation. She noted that the new benchmark will improve the accuracy, relevance, and international comparability of Zambia’s economic statistics.
Mrs. Mudenda said one of the most important pillars supporting the rebasing exercise is the 2025 Economic Establishment Census, a nationwide enumeration of economic establishments conducted between May and October 2025. Covering both formal and informal enterprises across all provinces and districts, the Census was designed to provide a comprehensive picture of the structure, size, distribution, and composition of economic activity in Zambia. The exercise covered a broad range of sectors, including manufacturing, mining, agriculture, trade, transport, information and communication technology, financial services, tourism, construction, and other service industries.
She explained that the Census was undertaken to update Zambia’s Statistical Business Register, measure the current structure of economic activity, identify emerging sectors of the economy, improve the quality of National Accounts, provide benchmark information for GDP rebasing, and strengthen evidence-based policymaking and development planning. The Census is particularly important because it provides current information on how the economy is organized, where economic activity is taking place and the contribution of both formal and informal enterprises to national production.
Mrs. Mudenda noted that preliminary findings from the Census have already provided valuable insights into Zambia’s evolving economic landscape. Among the notable findings publicly released is the substantial increase in the number of economic establishments operating in the country, rising from approximately 66,000 establishments recorded during the 2010 benchmark period to about 485,000 establishments captured during the 2025 Census. She emphasized, however, that while this reflects a significant expansion in the number of business units operating within the economy, establishment growth should not automatically be interpreted as economic growth, but rather as evidence of a more comprehensive understanding of the structure and breadth of economic activity in the country.
The Statistician General said the Economic Establishment Census provides the benchmark data required to ensure that GDP estimates accurately reflect present-day economic realities rather than economic relationships that existed more than a decade ago. She described the Census as one of the most comprehensive recent efforts to map Zambia’s productive economy and a central building block of the country’s GDP Rebasing Programme.
Mrs. Mudenda further highlighted the significant progress already made in implementing the rebasing exercise, including the establishment of technical governance structures, reviews of methodologies to align with international statistical standards, implementation of the 2024 Household Budget Survey, updates to the Statistical Business Register, integration of administrative data from key public institutions, compilation of Supply and Use Tables, and extensive capacity-building programmes for stakeholders across the National Statistical System.
She disclosed that the remaining stages of the exercise include final data validation, balancing of Supply and Use Tables, reconciliation of sector estimates, quality assurance reviews, and peer review by technical experts, preparation of methodological documentation, stakeholder briefings, and publication of the revised GDP series.
The Statistician General emphasized that GDP rebasing does not create new economic activity or national wealth. Rather, it improves the measurement of economic activity by incorporating better data sources, updated methodologies, and internationally accepted statistical standards. She explained that any changes in GDP resulting from the rebasing exercise should therefore be interpreted as improvements in statistical measurement rather than an overnight increase or decrease in economic activity.
Mrs. Mudenda said the successful completion of the exercise will deliver more accurate measurement of Zambia’s economy, improved sectoral estimates, stronger evidence for policymaking, enhanced macroeconomic analysis, improved monitoring of development programmes, stronger investor confidence, and better assessment of debt sustainability and productivity trends.
Earlier, delivering welcome remarks, Ministry of Finance & National Planning Director Human Resource and Administration, Mrs. Nalituba Mwale, described the rebasing exercise as an important step towards ensuring that Zambia’s economic data accurately reflects the realities of a modern and evolving economy.
Mrs. Mwale noted that over the past decade Zambia has experienced significant developments in mining, information and communication technology, financial services, tourism, construction, logistics, and renewable #energy, making it necessary to update the country’s statistical benchmarks to capture these changes more comprehensively. She added that the rebasing exercise will provide policymakers, investors, development partners, businesses, and citizens with a clearer picture of economic performance and structural transformation.
The event brought together representatives from public institutions, the Bank of Zambia, the private sector, academia, development partners, the media, and members of the public to deepen understanding of the GDP Rebasing Exercise and its implications for Zambia’s economic future.
The Ministry of Finance and National Planning and ZamStats reaffirmed their commitment to strengthening Zambia’s statistical system, noting that reliable and credible statistics remain indispensable for sound policymaking, sustainable development, private sector-led growth, and inclusive.