Africa-Press – Zambia. ZAMBIA’S copper exports soared to US$7.6 billion in 2024, reaffirming the country’s status as Africa’s second largest copper exporter after the Democratic Republic of Congo. Zambian cultural tours
Yet even as global demand for copper hits record highs, experts warn that Zambia and much of Africa continues to capture only a fraction of the true economic value locked in the continent’s rich copper reserves.
Copper remains the backbone of Zambia’s economy, accounting for the bulk of its export earnings.
In 2024, Zambia’s copper mainly flowed to Switzerland, China, the UAE and India, according to new data compiled by The Visual Capitalist.
“These figures show just how central copper still is to Zambia,” says economist and mining analyst Johnstone Chikwanda.
“But exporting raw copper alone means Zambia loses out on job creation, industrial development, and higher earnings that come from refining and manufacturing.”
Zambia’s performance places it behind only the DRC, which exported an impressive US$19.8 billion worth of copper this year, largely destined for China, the UAE, Egypt, Singapore and the USA.
Together, the two neighbours dominate Africa’s copper market, which as a whole reached US$35 billion in 2024, making copper the continent’s second most valuable export after oil.
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