Government Records K1. Trillion Trade Surplus

27 May 2011

ZAMBIA has recorded a trade surplus of K1.1 trillion, representing a growth of about 27.8 per cent from K865.0 billion the previous month.

The K1,105.4 billion surplus means that the country exported more in April 2011 than it imported in the same month in nominal terms.

Central Statistical Office (CSO) acting director John Kalumbi said since January 2011, the country has had monthly trade surpluses with the highest value at K1,484.3 billion registered in January.

The lowest was recorded in February 2011 amounting to K645.2 billion.

Speaking when he presented the CSO monthly bulletin in Lusaka yesterday, Mr Kalumbi said Zambia’s major export products in April were intermediate goods comprising copper, cathodes and a section of refined copper and copper blister accounting for 91.4 per cent.

“Other exports were from the consumer goods, raw materials and capital goods which accounted for about 8.6 per cent of the total exports in April and March 2011. The country has been a net exporter of intermediate goods, mainly metal and their articles accounting for an average of 90.7 per cent of the total exports,” Mr Kalumbi said.

Commenting on Zambia’s metal exports and non-traditional exports (NTEs), Mr Kalumbi said there had been a decrease in the total value of exports from K3, 674.4 billion to K3, 544.0 billion between April and March 2011.

The overall contribution of metals and their products to the total export earnings in April and March 2011 averaged about 86.0 per cent.

“The share of NTEs recorded an average of about 14.1 per cent in revenue earnings between April and March 2011,” he said.

Zambia’s major exports to Switzerland accounted for 53.6 per cent and the products exported were cathodes and sections of cathodes of refined copper.

He said about 17.7 per cent of the products were exported into China with copper blisters representing 45.5 per cent and cathodes and sections of cathodes of refined copper stood at 33.2 per cent.

South Africa was the third major destination accounting for 14.1 per cent with main export products being cathodes and sections of cathodes of refined copper stood at 60.2 per cent.

Other articles of cobalt contributed about 15.3 per cent to the country’s total exports.

Mr Kalumbi said the United Kingdom was the fourth major export destination of Zambia’s total exports accounting for 4.0 per cent.

The major export products were cathodes and sections of cathodes of refined copper accounting for about 97.7 per cent.

The Democratic Republic of Congo (DRC) was the fifth major export for Zambia representing 3.5 per cent.

Collectively, the five countries accounted for 92.9 per cent of Zambia’s total export earnings in April 2011.

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