Zambia in trade surplus

ZAMBIA has recorded a trade surplus of K938 million from a trade deficit of K543.9 million in December 2018, Central Statistical Office (CSO) acting Director of Census & Statistics, Iven Sikanyiti, has said

Mr Sikanyiti said the trade surplus meant that the country exported more though at a reduced rate than it imported in nominal terms.

Hei said imports decreased notably by 21.4 percent from K9,459.4 million in December 2018 to K7,435.6 million in January 2019.

“This decrease is mainly attributed to the reduction in imports of raw materials from K1, 453.3 million to K327.0 million (78.8 percent) and capital goods from K3,918.7 million to K2,969.7 million (24.2 percent),” Mr Sikanyiti said

Mr Sikanyiti said exports equally decreased though slightly by 6.1 percent from K8, 915.6 million in December 2018 to K8, 373.6 million in January 2019.

“The decrease in the value of exports is mainly attributed to the decrease in the raw materials exports and Consumer goods exports by 30.0 percent and 25.0 percent respectively. Therefore, the net effect of these dynamics in trade was the trade surplus,” Mr Sikanyiti said

Mr Sikanyiti said that the traditional exports earnings decreased by 0.4 percent from K6,635.6 million in December 2018 to K6,627.6 million in January 2019.

“In terms of share in total exports, traditional exports recorded an average of 76.8 percent in revenue earnings between January 2019 and December 2018,” he said

Mr Sikanyiti said Non-Traditional Exports (NTEs) earnings decreased by 23.4 percent from K 2,280.0 Million in December 2018 to K1,746.0 million in January 2019.

Mr Sikanyiti said in terms of share in total exports, NTEs recorded an average of 23.3 percent in revenue earnings between January 2019 and December 2018.