Zambia External Debt to GNI
External debt stocks as % of GNI DT.DOD.DECT.GN.ZS
Zambia's external debt to gni was 87.07% in 2025, ranked 12th globally. This represents a 23.8% decrease from 2024. Data from World Bank, covering 1970–2025.
Overview
Zambia's external debt to gni stood at 87.07% in 2025, a decline of +27.13pp from 2024. Based on recent trends, this figure is projected to reach 87.07% by 2025. Zambia ranked 12th globally.
Zambia’s external debt to gross national income rose from 46.70 % in 1970 to a historic high of 414.94 % in 1986, reflecting a period of extensive borrowing amid structural adjustment programmes, before falling to a trough of 17.79 % in 2008 as debt relief and fiscal consolidation took effect. By 2025 the ratio had climbed again to 87.07 %, placing Zambia twelfth in the world and closely matching peers such as Jordan at 89.12 % and Rwanda at 88.91 %. The long‑term upward trajectory since the early 2000s suggests that debt accumulation is outpacing income growth, a pattern that could be amplified by continued reliance on external financing for infrastructure and energy projects. Future shifts in fiscal policy, improvements in export earnings, or broader access to concessional financing will be decisive in altering the current path and stabilising the debt‑to‑GNI ratio.
Data & projection
| Year | External Debt to GNI | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 61.17% | - | - |
| 2026* trend | 74.12% | - | - |
| 2025* trend | 87.07% | - | - |
| 2025 | 87.07% | −27.13pp | #12 |
| 2024 | 114.20% | +3.53pp | #105 |
| 2023 | 110.68% | +7.00pp | #107 |
| 2022 | 103.67% | −29.88pp | #107 |
| 2021 | 133.55% | −33.97pp | #113 |
| 2020 | 167.52% | +39.17pp | #114 |
| 2019 | 128.35% | +33.32pp | #114 |
| 2018 | 95.03% | −0.98pp | #107 |
| 2017 | 96.01% | +18.43pp | #106 |
| 2016 | 77.57% | +18.50pp | #96 |
| 2015 | 59.08% | +22.78pp | #85 |
| 2014 | 36.30% | +11.49pp | #62 |
| 2013 | 24.80% | +0.14pp | #40 |
| 2012 | 24.66% | +1.34pp | #41 |
| 2011 | 23.31% | +0.46pp | #35 |
Detected Pattern
Analysis
Zambia matched the Export Boom Cycle pattern in 2021. Historically, 71% of countries showing this pattern (546 out of 768) saw external debt to gni improve within 24 months. View full analysis →
Frequently Asked Questions
Zambia's external debt to gni was 87.07% in 2025. Ranked 12th globally. This represents a 23.8% decrease from the previous year.
Zambia's external debt to gni peaked at 414.94% in 1986.
The lowest external debt to gni in Zambia was 17.79% in 2008.
Zambia ranks 12th globally in external debt to gni as of 2025.
The World Bank indicator code is DT.DOD.DECT.GN.ZS. Data sourced from World Bank.
Zambia's external debt to gni is projected to reach 87.07% by 2025 based on trend extrapolation.
The external debt to gni of Zambia in 2025 was 87.07%. This ranks 12th in the world.
Cite this page
@misc{historysaid_zambia_external-debt-to-gni,
title = {Zambia External Debt to GNI},
url = {https://historysaid.com/zambia/external-debt-to-gni/},
publisher = {HistorySaid},
year = {2026}
}