Local News

Zambia in trade surplus

BUUMBA CHIMBULU
ZAMBIA recorded a trade surplus valued at K181.5 shift from a trade deficit of K119.5 million in February this year.
Zambia Statistics Agency (ZSA) Interim Statistician, Mulenga Musepa, explained that the trade surplus meant that the country exported more than it imported in nominal terms.
Mr Musepa said that exports which mainly comprised domestically produced goods increased by 6.6 percent from K7, 2020 to K8, 346.4 million in March 2020.
“This out-turn was mainly attributed to a 10.8 percent increase in export earnings from intermediate goods,” he said.Mr Musepa said imports from K7, 948.6 million in February 2020 to K8, 146.9 million in March.
The increase, he explained, in imports was mainly due to higher import bills for the intermediate goods and of 18.4 percent and 7.1 percent, respectively.
Mr Musepa said data collection for the 2019/2020 Crop Forecasting Survey update had gone well despite some challenges such as flooding in some parts of Luapula, North-western, Western and Eastern provinces.
He indicated that an estimated 93.2 percent of the targeted 13,600 households had been covered.
“Data collection among large-scale farms is currently at 90 percent. Data collection nationwide is expected to be completed this week. Results around mid-May,” Mr Musepa said.

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