Zambia registers growth in export earnings

Sat, 31 Dec 2016 10:06:14 +0000

By BUUMBA CHIMBULU

ZAMBIA’S total export earnings for November 2016 accounted for 76.9 percent, with Switzerland being the major destinations.

According to Central Statistical Office (CSO) director of census and statistics John Kalumbi, Switzerland was Zambia’s major export destination in November accounting for 41.9 percent, followed by China with 16.6.1 percent.

Mr Kalumbi said the major products exported to Switzerland were cathodes and sections of cathodes of refined copper accounting for 47.9 percent.

He said Switzerland’s total export earnings of 41.9 percent was followed by China’s which accounted for total export earnings of 16.6 percent.

“The major export product to China was copper blister, accounting for 83.1 percent,” he said.

He said Switzerland and China were among the five countries which collectively accounted for 76.9 percent of Zambia’s total export earning in November 2016.

Mr Kalumbi said Congo DR was the third main export destination accounting for 6.5 percent of the total export earnings.

“The major export product was sulphuric acid accounting for 10.2 percent.

“Singapore was the fourth main export destination accounting for 6.2 percent of the total export earnings,” he said.

He explained that Singapore’s major export earnings accounted for 98.9 percent.

He further said the last country for Zambia’s export earning was United Arab Emirates which accounted for 5.7 percent.

Mr Kalumbi also announced that the Zambian economy in the first half of 2016 grew by 4 percent with its Gross Domestic Product (GDP) standing at 60.4-billion kwacha.

He said the 4 percent is an increase compared to the 3.3 percent the same period last year. Mr Kalumbi added that his office is now able to compute quarterly GDP projections.

Mr Kalumbi said Information Communication Technology which is the fastest growing sector at 40.2 percent is also the highest GDP contributor at 1.2 percent.

He said the ICT growth was mainly as a result of promotional products by the three mobile service providers which saw an
increase in data usage and number of minutes for voice calls.