Exports rise by 17.9%

ZamStat announced increased copper earnings, NTEs

0
51
Zambia Statistics Agency Interim Statistician General, Mulenga Musepa.

BUUMBA CHIMBULU writes

ZAMBIA’S exports rose by 17.9 percent to K10, 524.5 million in May this year from K8, 929.5 million the previous month.

This is mainly due to a 12.0 per cent increase in intermediate goods export earnings to K8, 645.9 million from K7, 7187 million in April 2020, says Zambia Statistics Agency Interim Statistician General, Mulenga Musepa.

Mr Musepa said at the monthly bulleting in Lusaka, refined copper export earnings during May2020 rose by 17.3 per cent to K7, 883.0 million from to K6, 720.2 million the previous month.

“Refined copper export volumes during May 2020 rose by 11.6 per cent to 82,287.5 tonnes on London Metal Exchange (LME) copper prices increased by 3.7 per cent to US$5,233.8per tonne in May 2020 from US$5,048.3 per tonnes in April 2020,” he said.

On the other hand, imports decreased by 0.3 per cent to K6,681.1 million in May this year from K6, 697.9 million the previous month.

Mr Musepa explained that the decrease in imports was driven by lower import bills for capital goods and consumer goods accounting for 13.3 per cent and 5.2 per cent respectively.

He said the Non-Traditional Exports (NTEs) earnings increased by 20.1 per cent to K2, 263.3 million in May this year from K1, 884 million the previous month.

During May 2020, Agricultural NTEs increased by 80.3 per cent while non-agricultural NTEs increased by 9.4 per cent.

Agricultural products accounted for a share of 22.8 per cent of

Zambia’s NTEs in May 2020 compared to 15.2 per cent recorded in April

2020.

“The export earnings from Agricultural products increased by

80.3percent from K286.0 million in April 2020 to K515.7 million in May

2020.

“The major export commodities were ‘tobacco, not stemmed/stripped

accounting for 19.3 per cent, ‘other raw cane sugar’ accounting for

15.0 per cent and tobacco, partly or wholly stemmed/stripped at 9.3 per cent,” Mr Musepa said.

He said the non-agricultural products accounted for a share of 77.2

per cent of Zambia’s NTEs in May 2020 compared to 84.8 per cent recorded in April 2020.

The export earnings from non-agricultural products recorded an increase of 9.4per cent from K1, 598.0 million in April 2020 to K1,

747.7million in May 2020.

The major export commodities were bullion semi-manufactured forms

(Gold)’ accounting for 12.3 per cent’, sulphuric acid; oleum in bulk’ and quicklime.

Mr Musepa said the major export destination in May 2020 was

Switzerland, which accounted for 41.5 per cent of the total export earnings.

The main export product to Switzerland was copper anodes for electrolytic refining, accounting for 56.3 per cent of total export earnings from that country.

He said China was the second main export destination accounting for

21.9 percent of the total export earnings.

The major export products were Copper anodes for electrolytic refining, accounting for 55.3per cent of total export earnings from that country.

Mr Musepa said the Democratic Republic of Congo (DRC) was the third main export destination accounting for 14.0 per cent of the total export earnings.

LEAVE A REPLY

Please enter your comment!
Please enter your name here