Zamibia trades less in Aug, says CSO

Daily Nation Newspaper - - HOME NEWS -

By MAILESI BANDA ZAM­BIA has recorded a trade

month of Au­gust from a trade

corded in July rep­re­sent­ing a 218 per­cent de­crease in the trade bal­ance.

Cen­tral Sta­tis­tics Of­fice, di­rec­tor of cen­sus and sta­tis­tics, John Kalumbi said the coun­try im­ported more in Au­gust 2017 than it ex­ported in nom­i­nal terms.

Mr. Kalumbi said there had been a de­crease of 11.9 per­cent in the to­tal value of metal ex­ports from K5, 314 mil­lion in July 2017 to K4, 682 mil­lion in Au­gust 2017. Speak­ing when he pre­sented the monthly bul­letin for Au­gust, Mr Kalumbi said the over­all con­tri­bu­tion of met­als and their prod­ucts to the to­tal ex­port earn­ings in Au­gust and July 2017 av­er­aged 76.3 per­cent.

He ex­plained that non­tra­di­tional ex­ports recorded an in­crease of 24.7 per­cent from K1, 376 mil­lion in July to K1717 mil­lion in Au­gust 2017.

He said the share for non­tra­di­tional ex­ports recorded an av­er­age of 23.7 per­cent rev­enue earn­ings be­tween Au­gust and July 2017. “Be­tween July and Au­gust 2017 the vol­ume of cop­per ex­ported de­clined by 9.9 from 94,815 met­ric tonnes recorded in July to 85,504 met­ric tonnes in Au­gust 2017,” he said.

Mr Kalumbi also said the cor­re­spond­ing metal prices on the Lon­don Metal Ex­change in­creased by 8.4 per­cent from USD 5,978 per met­ric tonne in July to 6,478 met­ric tonnes in Au­gust. He noted that with the rate of de­cline in the vol­ume of cop­per ex­ports sur­passes that of the price in­crease, the net ef­fect would be the re­duc­tion in ex­port earn­ings. CSO on Thurs­day an­nounced that the an­nual in­fla­tion rate for Septem­ber had in­creased to 6.6 per­cent com­pared to 6.3 for Au­gust due to the in­crease in elec­tric­ity tar­iffs.

Mr Kalumbi said the an­nual in­fla­tion rate as mea­sured by the Con­sumer Price In­dex for Septem­ber, 2017 in­di­cated an in­crease to 6.6 per­cent com­pared to last month’s record of 6.3 per­cent which he said could mainly be at­trib­uted to the price in­crease in elec­tric­ity tar­iffs.

He ex­plained that the fig­ures meant that on av­er­age prices in­creased by 6.6 per­cent be­tween Septem­ber 2016 and Septem­ber 2017.

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