Zambia records K651m trade deficit

Fri, 23 Feb 2018 08:59:02 +0000

By MAILESI BANDA

ZAMBIA has recorded a trade deficit of over  K651million due decline in the exports of metals which fell by 1.5 per cent, says Central Statistical Office (CSO) acting director for census and statistics Goodson Sinyenga.

Mr Siyenga said metal export earnings marginally decreased by 1.5 percent from K6, 852,000 in December 2017 to K6, 752,000 in January 2018.

He said however that Zambia had been recording a trade surplus in the past two months with the previous one standing at K496 million recorded in December 2017.

Mr Sinyenga said during the same period under review, Zambia recorded an increase in the imports of consumer and capital goods by 26.2 percent and 24.5 percent respectively.

Mr Sinyenga said this during the presentation of the CSO monthly bulletin for the month of February in Lusaka yesterday.

And Mr Sinyenga announced that the annual inflation rate for February, 2018 has decreased to 6.1 percent from the 6.2 percent recorded last month.

Mr. Sinyenga explained that of the total annual inflation rate of 6.1 percent recorded in February, food and non-alcoholic beverages accounted for 2.5 percentage points while non-food items accounted for a total of 3.6 percentage points.

“The monthly food inflation rate for February 2018 increased to 1.2 percent compared to 1.0 percent recorded in January 2018.

“This indicates an increase of 0.2 percentage points. The monthly increase is as a result of prices changes of meat products, fruits and vegetables,” he said.