Macroeconomic Forecast Zambia

Copper exports by volume in 2009 are set to exceed 2008's results, despite disruption surrounding mine abandonment and ownership transfers. Nevertheless, although copper prices have nearly doubled from their end-08 low, they are still barely more than half of their 2008 peak. As such we anticipate Zambia posting a trade deficit of nearly US$500mn, compared to a surplus of US$38mn in 2008.

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