Key Market Indicators
Zambia’s electrical equipment export market is projected to decline significantly over the next five years. According to recent forecasts, the country's exports in this sector are expected to drop to approximately $29 million by 2028, down from around $38 million in 2023. This represents a yearly decrease of 4.1% in compound annual growth rate (CAGR). Notably, since the year 2000, Zambia's electrical equipment supply has seen a consistent annual reduction of 1.6%. In contrast, Zambia's electrical equipment imports are on the rise. Projections indicate that imports will climb to about $723 million by 2028, up from around $641 million in 2023. This growth translates to an average annual increase of 1.9%. Historical data since 2000 show that the country's demand for electrical equipment has been increasing steadily, with an annual growth rate of 1.7%. These trends highlight a growing disparity between Zambia's shrinking export market and its expanding import market for electrical equipment.
