By VITA BANDA
ZAMBIA Statistics Agency (ZAMSTATS) interim Statistician General, Mulenga Musepa has disclosed that the country recorded a trade deficit of k2.8 billion in March 2023 compared to a surplus of k2.8 billion in February 2023.
Mr Musepa said, exports mainly comprising domestically produced goods, decreased by 5.8 percent to k17.0 billion in March 2023 from k18.1 billion in February 2023.
He explained that, this was mainly on account of 8.3 and 5.2 percent decreases in export earnings from intermediate goods and raw materials, respectively.
Mr Musepa further said, the total value of exports via all modes of transport for the period January to March 2023 was k56.1 billion.
He added that, imports increased by 29.3 percent to k19.8 billion in March 2023 from k15.3 billion in February 2023.
Mr Musepa said, this was mainly as a result of 44.3, 23.5, 90.1 and 11.0 percent increases in import bills of capital goods, intermediate goods, raw materials and consumer goods, respectively.
“Imports increased by 29.3 percent to K19.8 billion in March 2023 from K15.3 billion in February 2023. This was mainly as a result of 44.3, 23.5, 90.1 and 11.0 percent increases in import bills of capital goods, intermediate goods, raw materials and consumer goods, respectively.
Traditional exports (TEs) earnings increased by 6.9 percent to K11.0 billion in March 2023 from K10.3 billion in February 2023. In terms of share in total exports, TEs accounted for 64.8 percent during the month under review.
“Non-traditional exports (NTEs) earnings decreased by 22.8 percent to K6.0 billion in March 2023 from K7.8 billion in February 2023. In terms of share in total exports, NTEs accounted for 35.2 percent in February 2023,” he said.
