Zambia Reserves in Months of Imports
Total reserves in months of imports FI.RES.TOTL.MO
Zambia's reserves in months of imports was 3.9 in 2025, ranked 76th globally. This represents a 28.9% increase from 2024. Data from World Bank, covering 1978–2025.
Overview
Zambia's reserves in months of imports stood at 3.9 in 2025, a rise of +0.9 from 2023. Based on recent trends, this figure is projected to reach 3.9 by 2025. Zambia ranked 76th globally.
Zambia’s reserves cover 3.89 months of imports in 2025, placing it 76th in the world and just above peers such as Angola (3.93) and Morocco (3.80). The indicator has risen from a low of 0.40 months in 1999, the all‑time trough, to a peak of 5.04 months in 2009, before settling at the current level after 42 years of observation. The early 2000s saw a sharp accumulation of foreign exchange, driven by higher copper prices and improved fiscal discipline, which lifted the reserve ratio to its highest point. The subsequent decline reflects periods of commodity price volatility, external debt servicing pressures and modest export growth, pulling the coverage back toward the low‑single‑digit range. Compared with similarly ranked economies, Zambia’s reserve buffer remains slightly tighter than Malaysia’s 3.79 months, suggesting limited room for external shocks. Continued diversification of exports and prudent macro‑policy could stabilize or modestly increase the months‑of‑imports coverage in the coming years.
Data & projection
| Year | Reserves in Months of Imports | YoY change | Rank |
|---|---|---|---|
| 2026* trend | 4.2 | - | - |
| 2025* trend | 3.9 | - | - |
| 2025 | 3.9 | +0.9 | #76 |
| 2023 | 3.0 | −0.0 | #100 |
| 2022 | 3.1 | −0.5 | #107 |
| 2021 | 3.5 | +1.3 | #116 |
| 2020 | 2.2 | +0.1 | #137 |
| 2019 | 2.0 | +0.3 | #131 |
| 2018 | 1.8 | −0.7 | #134 |
| 2017 | 2.5 | −0.7 | #127 |
| 2016 | 3.3 | −0.6 | #104 |
| 2015 | 3.9 | +0.7 | #90 |
| 2014 | 3.1 | +0.5 | #104 |
| 2013 | 2.6 | −1.2 | #123 |
| 2012 | 3.8 | +0.6 | #86 |
| 2011 | 3.2 | −0.4 | #105 |
| 2010 | 3.6 | −1.4 | #110 |
Detected Pattern
Analysis
Zambia matched the Export Boom Cycle pattern in 2021. Historically, 71% of countries showing this pattern (546 out of 768) saw reserves in months of imports improve within 24 months. View full analysis →
Frequently Asked Questions
Zambia's reserves in months of imports was 3.9 in 2025. Ranked 76th globally. This represents a 28.9% increase from the previous year.
Zambia's reserves in months of imports peaked at 5.0 in 2009.
The lowest reserves in months of imports in Zambia was 0.4 in 1999.
Zambia ranks 76th globally in reserves in months of imports as of 2025.
The World Bank indicator code is FI.RES.TOTL.MO. Data sourced from World Bank.
Zambia's reserves in months of imports is projected to reach 3.9 by 2025 based on trend extrapolation.
The reserves in months of imports of Zambia in 2025 was 3.9. This ranks 76th in the world.
Cite this page
@misc{historysaid_zambia_reserves-months-imports,
title = {Zambia Reserves in Months of Imports},
url = {https://historysaid.com/zambia/reserves-months-imports/},
publisher = {HistorySaid},
year = {2026}
}