World Economic Forum Ranks Zambia 8th Most Competitive Sub-Saharan Economy

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In its latest edition of The Global Competitiveness 2014-2015 released on September 3rd 2014, The World Economic Forum (WEF) ranked Zambia among the 10 most competitive countries in Sub-Saharan Africa.

The report ranks Zambia as the 8th most competitive economy out of 33 Sub-Saharan African countries analyzed.

Zambia ranked 96th out of 144 countries covered by WEF’s report.

The report highlights Sub-Saharan Africa’s persistence in growth amid the economic downturn the rest of the World suffered in recent years, registering “impressive growth rates of close to 5% in 2013 – with rising projections for the next two years – below only emerging and developing Asia”.

In 2013 Zambia GDP was USD 22.38 billion.

Zambia GDP grew by 6.4 % between 2012 and 2013.

WEF ranks each country’s competitiveness using 12 factors :Institutions, Infrastructure, Macroeconomic environment, Health and primary education, Higher education and training, Goods market efficiency, Labor market efficiency, Financial market development, Technological readiness, Market size, as well as Business sophistication and Innovation.