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NON-TRADITIONAL EXPORTS IN 20.9% DECREASE

By BUUMBA CHIMBULU

ZAMBIA’s Non-Traditional Exports (NTEs) earnings have decreased by 20.9 per cent to K4.0 billion in August this year from K5.1 billion the previous month.

NTEs accounted for 22.9 per cent of the total export earnings in August this year, Zambia Statistics Agency (ZamStats) interim statistician general Mulenga Musepa said in Lusaka recently.

He said agricultural products accounted for a share of 25.3 per cent of Zambia’s NTEs in August 2021 compared to 36.2 per cent the previous month.

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“Export earnings from agricultural products decreased by 46.1 per cent to K1.0 billion in August 2021 from K1.9 billion in July 2021.

“The major export commodities were tobacco partly or wholly stemmed/stripped accounting for 12.3 per cent,” Mr Musepa said.

He pointed out that non- agricultural products accounted for a share of 74.7 per cent of Zambia’s NTEs in August 2021 compared to 62.8 per cent the previous month.

Export earnings from non-agricultural products recorded a decrease of 6.1 per cent to K3.0 billion in August 2021 from K3.2 billion in July 2021.

Mr Musepa said the major export commodities were electrical energy accounting for 7.0 per cent, ferro-silicone- manganese and Portland cement.

He indicated that Zambia’s major export products in August, 2021 were from the intermediate goods category mainly comprising copper anodes for electrolytic refining and Copper blister accounting for 85.8 per cent.

Mr Musepa said exports from the consumer goods, raw materials and capital goods categories, collectively accounted for 14.2 per cent of total exports in August, 2021.

He said the major import product category in August 2021 was capital goods, accounting for 40.2 per cent.

Mr Musepa said the consumer category was second at 25.2 per cent, followed by the intermediate goods and raw materials categories, accounting for 21.6 per cent and 13.2 per cent respectively.

On Traditional Exports (TEs), Mr Musepa said the TEs earnings increased by 0.7 per cent to K13.5 billion in August 2021 from K13.4 billion in July 2021.

In terms of share in total exports, he indicated that the TEs accounted for 77.1 per cent of export earnings in August this year.

“Export earnings from refined copper in August 2021 increased by 0.3 per cent to K13.5 billion from K13.4 billion in July 2021.

“The increase is attributed to the 17.7 per cent increase in export volumes from 62.9 thousand tonnes in July 2021 to 74.0 thousand tonnes in August 2021,” Mr Musepa said.

He stated that copper prices on London Metal Exchange (LME) market for the corresponding months decreased by 0.8 per cent to US$9,357.2 per tonne in August 2021 from US$9,433.6 per tonne the previous month.

Mr Musepa said the major export destination in August was Switzerland, which accounted for 48.5 per cent of the total export earnings.

China was the second main destination of Zambia’s exports followed by Singapore.

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