ZAMBIA RECORDS K469M IN TRADE SURPLUS
ZAMBIA recorded a trade surplus in December with a growth rate of 11.4 percent from the surplus recorded in November 2017.
And the annual inflation for the month of January has increased to 6.2 percent from the 6.1 recorded last month.
Central Statistical Office, director of census and statistics, John Kalumbi announced that from the K421 million recorded in November the trade surplus moved up to K469 million in December.
Mr. Kalumbi attributed the trade surplus to a decline in imports which traditionally outweighed that of exports.
Speaking when he presented the monthly bulletin for the month of October in Lusaka yesterday, he said imports had declined by 4.7 percent between the exports recorded in November and December.
He noted that metal export earnings marginally increased.
“The metal export earnings marginally increased by 0.3 percent from K 6,829 million in November 2017 to K6, 852 million in December,” he said.
He further said the total overall contribution of metals and its products to the total export earnings between December and November 2017 averaged 80.4 percent.
Mr. Kalumbi said nontraditional exports decreased by 19.7 percent from the K 1862 million in November 2017 to K 1,496 million in December.
He said the share of nontraditional exports recorded an average of 19.7 percent in revenue earnings between the two months.
Meanwhile commenting further on the increase in the inflation rate, Mr Kalumbi said the annual inflation rate for January 2018 reduced for food and nonalcoholic beverages, communication and education.
Mr. Kalumbi said for food and non-alcoholic beverages the contribution to the inflation rate reduced from 4.8 percent to 4.6 percent due to price changes in for Breakfast meali meal, Roller meali meal and maize grain.