Zambia's total reserves, excluding gold (current US$) was US$4.09 billion in 2024, the latest year in the World Bank's World Development Indicators. That is up 32.86% from US$3.08 billion in 2014 (2.88% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | US$4.09 billion | 2024 |
| Five years earlier | US$1.45 billion | 2019 |
| Ten years earlier | US$3.08 billion | 2014 |
| Highest | US$4.09 billion | 2024 |
| Lowest | US$45.43 million | 1999 |
| Average since 2015 | US$2.46 billion | 2015–2024 |
| First recorded | US$196.04 million |
What the numbers say
In 2024, Zambia's total reserves, excluding gold (current US$) rose 28.9% on 2023 (from US$3.17 billion to US$4.09 billion).
Across the 30 yearly changes before that (1994 to 2023), the average change was +28.2% and a typical year strayed about 93.1% from that (the standard deviation). This year's change was 0.0 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 438.9% in 2000 and the biggest yearly fall was 71% in 1998. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 there is no clear straight-line trend: a straight line explains 23% 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 2024, Zambia had the 9th highest value of the 32 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 2024 ranking
- Tunisia — 6th of 32: US$8.77 billion
- Sri Lanka — 7th of 32: US$6.05 billion
- Cameroon — 8th of 32: US$5.06 billion
- Ethiopia — 10th of 32: US$3.78 billion
- Papua New Guinea — 11th of 32: US$3.54 billion
- Mozambique — 12th of 32: US$3.51 billion
What this measures
This series includes external assets (excluding monetary gold) that are readily available to and controlled by monetary authorities for meeting balance of payments financing needs, for intervention in exchange markets to affect the currency exchange rate, and for other related purposes (such as maintaining confidence in the currency and the economy, and serving as a basis for foreign borrowing). Reserve assets must be denominated and settled in foreign currency. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.
All 59 values
| Year | Total reserves, excluding gold (current US$) |
|---|---|
| 2024 | 4,089,834,508 |
| 2023 | 3,173,177,777 |
| 2022 | 2,967,565,317 |
| 2021 | 2,753,875,454 |
| 2020 | 1,203,448,374 |
| 2019 | 1,448,624,290 |
| 2018 | 1,569,229,906 |
| 2017 | 2,082,083,920 |
| 2016 | 2,352,719,004 |
| 2015 | 2,967,626,716 |
Total reserves, excluding gold (current US$) in nearby economies
- Angola — US$13.54 billion (2025)
- Botswana — US$3.46 billion (2024)
- Burundi — US$88.36 million (2023)
- Cabo Verde — US$1.26 billion (2025)
- Cameroon — US$5.06 billion (2024)
- Central African Republic — US$489.29 million (2024)
- Chad — US$1.55 billion (2024)
- Comoros — US$406.54 million (2025)
- Congo, Dem. Rep. — US$5.1 billion (2023)
- Congo, Rep.
More economic policy & debt data for Zambia
- Agriculture, forestry, and fishing, value added (current US$) — US$1.19 billion (2025)
- Agriculture, forestry, and fishing, value added (current LCU) — 29.79 billion (2025)
- Agriculture, forestry, and fishing, value added (% of GDP) — 4.11% (2025)
- Manufacturing, value added (current US$) — US$2.53 billion (2025)
- Manufacturing, value added (current LCU) — 63.49 billion (2025)
- Manufacturing, value added (% of GDP) — 8.75% (2025)
- Industry, including construction, value added (current US$) — US$10.2 billion (2025)
- Industry, including construction, value added (current LCU) — 256.39 billion (2025)
- Industry, including construction, value added (% of GDP)
Reading data like this
Questions people ask
- What is Zambia's total reserves, excluding gold (current US$)?
- US$4.09 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1965?
- It is up 1,986% from US$196.04 million in 1965 (5.28% a year on average, compounded). The highest value was US$4.09 billion in 2024 and the lowest US$45.43 million in 1999.
- How does Zambia rank?
- 9th highest of 32 economies with data for 2024.
- Is the latest change in total reserves, excluding gold (current US$) unusual for Zambia?
- In 2024, Zambia's total reserves, excluding gold (current US$) rose 28.9% on 2023 (from US$3.17 billion to US$4.09 billion). Across the 30 yearly changes before that (1994 to 2023), the average change was +28.2% and a typical year strayed about 93.1% from that (the standard deviation). This year's change was 0.0 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 FI.RES.XGLD.CD, licensed CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF) 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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