Zambia Foreign Reserves
Total reserves including gold FI.RES.TOTL.CD
Zambia's foreign reserves was $4.4B in 2025, ranked 105th globally. This represents a 38.5% increase from 2024. Data from World Bank, covering 1965–2025.
Overview
Zambia's foreign reserves stood at $4.4B in 2025, a rise of +$1.2B from 2023. Based on recent trends, this figure is projected to reach $4.4B by 2025. Zambia ranked 105th globally.
Zambia’s foreign‑exchange reserves have risen dramatically from a modest 203,871,760.00 in 1965 to an all‑time high of 4,394,627,809.35 in 2025, placing the country at rank 105 globally. The trajectory was not linear; a severe contraction to a trough of 45,429,575.76 in 1999 reflected the combined impact of commodity price shocks and balance‑of‑payments pressures, after which a steady accumulation began as fiscal consolidation and diversification of export earnings took hold. By 2025 the reserve stock surpasses that of Namibia (3,578,439,900.07) and is comparable to Brunei Darussalam’s 4,682,608,289.43, underscoring Zambia’s improved external liquidity relative to other lower‑middle‑income economies. The 59‑year coverage shows a long‑run strengthening of the balance sheet, yet future trends will hinge on the stability of copper prices, progress in debt restructuring and the capacity to attract foreign direct investment, which could either sustain the upward path or reverse it.
Data & projection
| Year | Foreign Reserves | YoY change | Rank |
|---|---|---|---|
| 2026* trend | $4.9B | - | - |
| 2025* trend | $4.4B | - | - |
| 2025 | $4.4B | +$1.2B | #105 |
| 2023 | $3.2B | +$205.6M | #110 |
| 2022 | $3.0B | +$213.7M | #108 |
| 2021 | $2.8B | +$1.6B | #113 |
| 2020 | $1.2B | −$245.2M | #128 |
| 2019 | $1.4B | −$120.6M | #119 |
| 2018 | $1.6B | −$512.9M | #117 |
| 2017 | $2.1B | −$270.6M | #114 |
| 2016 | $2.4B | −$614.9M | #106 |
| 2015 | $3.0B | −$110.7M | #97 |
| 2014 | $3.1B | +$394.5M | #102 |
| 2013 | $2.7B | −$358.4M | #110 |
| 2012 | $3.0B | +$718.2M | #101 |
| 2011 | $2.3B | +$230.3M | #108 |
| 2010 | $2.1B | +$201.7M | #111 |
Detected Pattern
Analysis
Zambia matched the Export Boom Cycle pattern in 2021. Historically, 71% of countries showing this pattern (546 out of 768) saw foreign reserves improve within 24 months. View full analysis →
Frequently Asked Questions
Zambia's foreign reserves was $4.4B in 2025. Ranked 105th globally. This represents a 38.5% increase from the previous year.
Zambia's foreign reserves peaked at $4.4B in 2025.
The lowest foreign reserves in Zambia was $45.4M in 1999.
Zambia ranks 105th globally in foreign reserves as of 2025.
The World Bank indicator code is FI.RES.TOTL.CD. Data sourced from World Bank.
Zambia's foreign reserves is projected to reach $4.4B by 2025 based on trend extrapolation.
Zambia's foreign reserves was approximately 4.39 billion ($4.4B) in 2025.
The foreign reserves of Zambia in 2025 was $4.4B. This ranks 105th in the world.
Cite this page
@misc{historysaid_zambia_reserves,
title = {Zambia Foreign Reserves},
url = {https://historysaid.com/zambia/reserves/},
publisher = {HistorySaid},
year = {2026}
}