Zambia recorded a trade surplus of K179 billion in December 2009. This signifies that the country exported more in December 2009 than it imported in value terms. This came to light during a Central Statistical Office (CSO) monthly bulletin in Lusaka yesterday.
CSO Director Efreda Chulu disclosed that Zambia’s major export products in December 2009 were from the intermediate goods category accounting for 80.7 percent comprising mainly Copper cathodes and sections of refined copper and articles of cobalt.
Ms. Chulu said raw materials came second with 12.2 percent comprising mainly copper ores and concentrates, while other exports included consumer goods and capital goods which collectively accounted for 7.1 percent of the total exports.
She noted that there had been a general increase in the total value of exports between November and December 2009, saying the country’s ever dominant metal products recorded a higher value in revenue growth of 9.4 percent in nominal terms.
Ms. Chulu revealed that Non-Traditional Exports (NTEs) recorded a moderate decrease of export earnings of 24.2 percent in December 2009.
She said the overall total percentage contributions of metal products to the total exports earnings was 83.5 and 77.8 percent in December and November 2009, respectively while NTEs recorded export earnings of about 16.5 and 22.2 percent during the same period.
Ms. Chulu named the country’s major export destinations in December as Switzerland, South Africa, China, the Democratic Republic of Congo and the United Kingdom.
The CSO Director however said the Southern Africa Development Community (SADC) regional grouping was the country’s largest export market accounting for 16.8 and 26.3 percent in December and November respectively.
She said South Africa was the dominant market in both months with 43.1 percent in December and 54.6 percent in November 2009 while DR Congo was the second dominant market in both months with 30.1 percent in December and 19.8 percent in November 2009.
She named other key export markets for the country in the SADC regional grouping as Zimbabwe, Tanzania and Malawi.
Meanwhile, Ms Chulu disclosed that Zambia’s major import products by category in December 2009 were from the intermediate goods which accounted for some 36.3 percent.
She said the total value of imports by Broad Economic Category (BEC) in December 2009 was valued at K1, 867.7 billion compared to K1, 671.7 billion in November 2009.
She said the most prominent imports were industrial supplies mainly in their primary and processed form and capital goods which collectively accounted for 70.3 and 66.5 percent in December and November 2009 respectively.
ZANIS
But what is being exported will be gone for good for God’s sake and we will soon or later be left with nothing to export. Lets keep our our raw materials and export finished goods! Atase! nothing to be proud about 😕
Yes we need to worko value addition. And it is of concern that the the non tradiitional exports decreased. But i got a question for you moderator #1 What are you doing bout this? I believe you must be an ablebodied zambian
This is very good.Zambia is still in its infacy economically and still got a long way to be a high-tech country.With time we will start exporting finished goods.It cant be done all at once like that UJENI is promising in 90 days.
#3 Sharp boyi, shani mani? Don’t get carried away. Ba bufi sana bamambala.[-(
Not surprising. Copper et al are the main exports, Copper prices have gone up hence this trade surplus.
Main concern is we continue to export raw materials. Let’s find ways of adding value to things so we can create more employment for our people.
One would expect the export processing zones being persued by the govt to help address this.
It is good news to hear exports have increased. Can some of this money be diverted to other sectors like tourism, infrastructure and agriculture? This would create employment. Additionally, low tax on small business owned by Zambians. Higher tax on imports from other countries on things like tomatoes…. these products from other countries are flooding the market. As a result giving no room for the local Zambian to sell their goods etc