BusinessDevelopmentalEconomyHeadline News

AGRO EXPORTS RISE

By BUUMBA CHIMBULU

ZAMBIA’s Non-Traditional Exports (NTEs) earnings increased by 1.1 per cent to K4.13 billion in May this year, mainly boosted by agriculture produce.

This was from the K4.09 billion recorded in April, Zambia Statistical Agency (ZamStats) interim statistician General Mulenga Musepa said.

In terms of share in total exports, Mr Musepa said NTEs accounted for 20.7 per cent of total export earnings in May this year.

Mr Musepa explained that agricultural products accounted for a share of 34.4 per cent of Zambia’s NTEs in May this year compared to 20.7 per cent the previous month.

He said exports earnings from agricultural products increased by 67.6 percent to K1.4 billion in May 2021 from K0.8 billion in April 2021, adding that the major export commodities were tobacco, oil cake of soya beans and other raw cane sugar.

Mr Musepa indicated that non-agricultural products accounted for a share of 65.6 per cent of Zambia’s NTEs in May compared to 79.3 per cent in April 20201.

“Export earnings from non-agricultural products recorded a decrease of 16.3 per cent to K2.7 billion in May 2021 from K3.2 billion the previous month.

“The major export commodities were Ferro-silico-manganese accounting for 8.0 per cent, Portland cement and Sulphur of all kinds,” he said.

Mr Musepa said traditional exports earnings decreased by 10.1 per cent to K15.9 billion in May 2021 from K17.7 billion the previous month.

In terms of share in total exports, traditional exports accounted for 79.3 per cent of export earnings in May 2021

“Zambia’s major export products in May, 2021 were from the intermediate goods category mainly comprising copper anodes for electrolytic refining and copper blister accounting for 86.2 per cent,” he said.

Mr Musepa said exports from the consumer goods, raw materials and capital goods categories, collectively accounted for 13.8 per cent of total exports in May, 2021.

He said major import product category in May 2021 was capital goods, accounting for 38.5 per cent.

Mr Musepa explained that the consumer goods category was the second at 29.4 per cent, followed by the intermediate goods and raw materials category, accounting for 20.8 per cent and 11.3 per cent respectively.

On export destination, Mr Musepa said the major export destination in May 2021 was Switzerland, which accounted for 45.8 per cent of the total export earnings.

“The main export product to Switzerland was copper anodes, accounting for 65.3 per cent of total export earnings from that country,” he said.

China was the second main destination of Zambia’s exports accounting for 19.3 percent of the total export earnings followed by Singapore, the Democratic Republic of Congo (DRC) and South Africa. Mr Musepa said these five countries collectively accounted for 89.2 per cent of Zambia’s total export earnings in May, 2020.

Related Articles

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker