Zambia’s Exports Soar

ZAMBIA recorded a K231 million rise in total value of exports in March 2014 in comparison to the previous month’s figure. The increase in the total value of exports from K4,217 million in February to K4,448 million was mainly caused by the rise in the value of the exports of metals and their products.

Central Statistical Office (CSO) director John Kalumbi said the total value of metal exports increased from K3,082 million in February to K3, 458 million in March. The overall contribution of metals and their products to the total export earnings in March and February this year averaged 75.4 per cent.

The non-traditional exports (NTEs) reduced from K1, 135 million in February to K990 million in March 2014. Mr Kalumbi said in Lusaka that the share of the NTEs registered an average of 24.6 per cent in revenue earnings between March and February 2014.

He said the country’s major export destination in March 2014 continued to have been Switzerland which accounted for 45.9 per cent or K2, 041.8 million worth of goods. The major export products to that country include cathodes and sections of cathodes of refined copper accounting for 91.7 per cent.

China was the second major export destination of Zambia’s exports accounting for 18.1 per cent valued at K811.5 million.

“The major export product to China was copper blisters accounting for 72.6 per cent. The third export destination was the Democratic Republic of Congo (DRC) accounting for 8.1 per cent valued at K361.7 million,” he said.

United Arab Emirates was the fourth major export destination, followed by South Africa at K273.7 million and K249.9 million respectively.

Mr Kalumbi explained that Asia was the largest market for Zambia’s total exports accounting for 30.1 per cent in March 2014, saying that in value terms the country recorded a reduction from K1, 601 million in February to K1, 312 million in March this year.

“The major source of Zambia’s imports in March 2014 was South Africa accounting for 32.7 per cent. The major import products from South Africa were structures and parts of structures contributing 4.7 per cent,” Mr Kalumbi said.

Source : The Times of Zambia

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