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Discover LudwigThe phrase "is near zero" is grammatically correct and can be used in written English.
It can be used to describe something that is very close to zero, or almost nonexistent. Example: The chances of winning the lottery are near zero.
Exact(58)
(Buying more short-term debt is pointless because the interest rate on that debt is near zero).
At the maximum afterload (when the aortic flow rate is near zero), the coronary flow rate is maximal.
The public's tolerance for bedbugs is near zero.
And the payoff thats available in the classroom at the moment is near zero.
The rate of gun seizures is near zero — 0.15 guns seized for every 100 stops.
The budget is in deficit, the current account is near zero, and the peso is overvalued.
Before a reactor is started up, the neutron population is near zero.
The ideological appeal of its Islamic theocracy in a changing Middle East is near zero.
(a) For the Arctic, the observed ozone hole area is near zero in all years.
Similar(2)
The industry was born out of two problems: the first is near-zero interest rates.
Inflation is near-zero.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com