ZAMBIA’S TRADE DEFICIT RISES

“Imports increased by 3.6 percent from K8, 215.4 mil

recorded a trade lion in May 2019 to K8, 510.9

deficit of K516.8 million million in June 2019,” he said.

in June 2019, from a trade “This increase is mainly

surplus of K501.1 million attributed to the intermedi

recorded in May 2019, the ate goods import which in

Central Statistics Office creased by 41.3 percent from

(CSO) has disclosed. K 1,546.3 Million in May 2019,

Speaking in Lusaka yesterto K2, 184.2 million in June day, CSO acting Director of 2019,” Mr Sinyenga said. Census and Statistics, GoodHe said exports decreased son Sinyenga, said the trade by 8.3 percent from K8, 716.5 deficit implied that the counmillion in May 2019 to K7, try imported more than it ex994.2 million in June 2019, ported in normal terms durthereby reducing the value of ing the period under review. export earnings from interDelta mediate cent.

“Therefore, the net effect of these dynamics in trade was the trade deficit,” he said.

Meanwhile, the year-on- year inflation rate, as measured by the all items consumer price index (CPI) for July 2019, has increased to 8.8 percent from 8.6 percent recorded in June 2019. Mr Sinyenga said this meant that on average, prices of goods and services increased by 8.8 percent between July 2018 and July 2019. goods by 14.7 per

“The increase in the annual rate of inflation was mainly attributed to both food and non-food items price movements,” said Mr Sinyenga.

The increase in the food annual rate of inflation was mainly attributed to price increase in products such as breakfast meal, roller meal, maize grain, samp, bread, buns and rice imports," he said. He said the increase in non-food annual rate of inflation for July 2019 was mainly attributed to changes in prices of clothing items.