Zambia: S&P Global Equity Indices (annual % change)

Key figures

What the numbers say

In 2025, Zambia's s&P Global Equity Indices (annual % change) rose 51.51 percentage points on 2024 (from 42.94% to 94.45%).

Across the 15 yearly changes before that (2010 to 2024), the average change was +1.75 percentage points and a typical year strayed about 63.86 percentage points from that (the standard deviation). This year's change was 0.8 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 172.7 percentage points in 2021 and the biggest yearly fall was 111.96 percentage points in 2022. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2016 to 2025 there is no clear straight-line trend: a straight line explains 25% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2025, Zambia had the 2nd highest value of the 80 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Zambia in the 2025 ranking

• Ghana — 1st of 80: 173.93%
• Luxembourg — 3rd of 80: 92.63%
• Korea, Rep. — 4th of 80: 87.32%
• Colombia — 5th of 80: 81.77%

What this measures

S&P Global Equity Indices measure the U.S. dollar price change in the stock markets covered by the S&P BMI country indices.

Limitations: Markets included in Standard & Poor's emerging markets category vary widely in level of development. Thus, it is best to look at the entire category to identify the most significant market trends. It is also useful to remember that stock market trends may be distorted by currency conversions, especially when a currency has registered a significant devaluation. Index methodology details are available on the S&P Global website: https://www.spglobal.com/spdji/en/indices/equity/sp-global-bmi/#overview

All 17 values

S&P Global Equity Indices (annual % change) in nearby economies

• Botswana — 13.04% (2025)
• Côte d'Ivoire — 28.58% (2025)
• Ghana — 173.93% (2025)
• Kenya — 53.45% (2025)
• Mauritius — -0.19% (2025)
• Namibia — 35.52% (2025)
• Nigeria — 61.22% (2025)
• South Africa — 55.56% (2025)

More financial sector data for Zambia

• GDP deflator (base year varies by country) — 415.22 (2025)
• DEC alternative conversion factor (LCU per US$) — US$25.13 (2025)
• Official exchange rate (LCU per US$, period average) — US$25.28 (2025)
• Inflation, GDP deflator (annual % growth) — 5.63% (2025)
• Domestic credit to private sector by banks (% of GDP) — 13.68% (2025)
• Net domestic credit (current LCU) — 172.45 billion (2025)
• Net foreign assets (current LCU) — 85.43 billion (2025)
• Monetary sector credit to private sector (% of GDP) — 13.72% (2025)
• Broad money (current LCU) — 223.14 billion (2025)
• Broad money (% of GDP)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Zambia's s&P Global Equity Indices (annual % change)?

94.45% in 2025, according to the World Bank (World Development Indicators).

How has it changed since 2009?

It is up 77.77 percentage points from 16.68% in 2009. The highest value was 135.73% in 2021 and the lowest -45.61% in 2015.

How does Zambia rank?

2nd highest of 80 economies with data for 2025.

Is the latest change in s&P Global Equity Indices (annual % change) unusual for Zambia?

In 2025, Zambia's s&P Global Equity Indices (annual % change) rose 51.51 percentage points on 2024 (from 42.94% to 94.45%). Across the 15 yearly changes before that (2010 to 2024), the average change was +1.75 percentage points and a typical year strayed about 63.86 percentage points from that (the standard deviation). This year's change was 0.8 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator CM.MKT.INDX.ZG, licensed CC BY 4.0. Original source: S&P Global BMI, S&P Dow Jones Indices, uri: https://www.spglobal.com/spdji/en/index-family/equity/global-equity/sp-global-bmi/#overview Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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