Metal Export Value Tumbles

THE value of Zambia’s metal exports decreased from K3, 850.5 million in May to K3, 562.1 million in June 2014.

The overall contribution of metals and their products to the total export earnings in June and May 2014 averaged 76.4 per cent.

Central Statistical Office (CSO) director John Kalumbi said non traditional exports (NTEs) recorded an average of 23.6 per cent in revenue earnings during the same period.

Mr Kalumbi said Zambia’s major export destination in June was Switzerland, which accounted for 46.7 per cent, with the major export products being cathodes and sections of cathodes of refined copper accounting for 94.8 per cent.

“China was the second major destination of Zambia’s exports accounting for 72.2 per cent. The major export product to China was copper blisters representing 68.8 per cent,” Mr Kalumbi said.

He said the third major export destinations were South Africa and Democratic Republic of Congo (DRC) which accounted for 6.6 per cent each.

The major export product to South Africa was Semi-manufactured gold, non-monetary representing 25.8 per cent, while the major export product to DRC was sulphuric acid.

Mr Kalumbi said Singapore was the fourth major export destination accounting for 4.2 per cent, with the major export product being cathodes and sections of cathodes of refined copper representing 98.6 per cent.

He said the five countries collectively accounted for 81.3 per cent of Zambia’s total export earnings in June 2014.

“The Asian regional grouping was the largest market for Zambia’s total exports, accounting for 25.5 per cent in June 2014.

Mr Kalumbi said the Southern African Development Community (SADC) was the second largest market for Zambia’s total exports, accounting for 21.7 per cent in June 2014.

He said Zambia’s major import products by category in June 2014, were capital goods, accounting for 32.8 per cent.

Source : The Times of Zambia

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