ZAMBIA IN TRADE BOOST
ZAMBIA’S cumulative total trade for the first four months of this year has increased to over K114 billion, as inflation rate for May quickens despite showing signs of improvement last month.
The country’s total trade between January and April this year has increased by 83.2 percent after reaching K114.40 billion from K62.46 billion recorded during the same period in 2020.
This is according to the Zambia Statistics Agency (ZAMSTATS) Interim Statistician General, Mulenga Musepa.
Mr Musepa attributed the increase in cumulative trade for this year to improved exports.
“The total value of exports via all modes of transport for the period January to April 2021 was K74.9 billion.
“Road transport accounted for K47.0 billion representing
62.8 percent, Rail transport was second at K8.4 billion (11.3 percent) and Air transport was third accounting for K1.5 billion
(2.0 percent). Other modes of transport accounted for K17.9 billion (23.9 percent),” he told the media in Lusaka yesterday.
In terms of volume, Mr Musepa said, the total volume of exports for the period January to April 2021 was 2.5 million metric tonnes, of which Road transport accounted for 1.7 million metric tonnes, representing 67.4 percent.
On trade for the month of
May, Mr Musepa said Zambia recorded a trade surplus of K10.2 billion in April 2021 compared to a surplus of K7.4 billion in March 2021 indicating a 37.5 percent increase.
“Exports mainly comprising domestically produced goods, increased by 17.3 percent to K21.7 billion in April 2021 from K18.5 billion in March 2021.
This was mainly on account of a 23.2 and 1.2 percent increase in export earnings from Intermediate goods and Capital goods,” he said.
Meanwhile, Mr Musepa announced that annual inflation for May, 2021 increased to 23.2 percent from 22.7 percent in
April, 2021.
On average, he explained that prices of goods and services increased by 23.2 percent between May 2020 and May 2021.
Mr Musepa attributed the increase in the annual inflation rate mainly to price increases in some food items.
“Annual food inflation for
May, 2021 was recorded at
28.5 percent compared to
27.2 percent in April 2021, an increase of 1.3 percentage points .This was mainly attributed to increase in prices of food items such as Fish (Frozen Fish, Buka buka, Fresh Kapenta, Kapenta (Mpulungu,” he said.