30 March 2014

Zambia: Metal Exports Nose-Dive

ZAMBIA's metal exports in the total value decreased from K3, 631 million recorded in January to K3,082 million in February 2014.

The overall contributions of metals and their products to the total export earnings in February and January 2014 averaged 74.0 per cent.

Central Statistical Office (CSO) director John Kalumbi said the share of Non-Traditional Exports (NTEs) recorded an average of 26 per cent in revenue earnings between February and January 2014.

Speaking at a media briefing in Lusaka, Mr Kalumbi said Zambia's major export destination in February 2014 was Switzerland, which accounted for 35.2 per cent.

"The major export products to Switzerland were cathodes and sections of cathodes of refined copper accounting for 84.6 per cent. China was the second major destination of Zambia's exports accounting for 25.4 per cent," Mr Kalumbi said.

He said the major export product to China was cathodes and sections of cathodes of refined copper representing 46.9 per cent.

Mr Kalumbi said the Democratic Republic of Congo (DRC) was the third major export destination, accounting for 9.3 per cent, with the major export products being sulphuric acid.

Singapore was the fourth major export destination accounting for 6.2 per cent, with the major export products being precious stones, worked but not set which accounted for 79.1 per cent.

Mr Kalumbi said South Africa was the fifth major export destination accounting for six per cent. The major export product to South Africa was semi-manufactured gold, non-monetary which accounted for 21.8 per cent.

"These five countries collectively accounted for 82.1 per cent of Zambia's total export earnings in February 2014," he said.

The Asian regional grouping was the largest market for Zambia's total exports, accounting for 38 per cent in February 2014.

Mr Kalumbi said from Asia, China dominated the export market, accounting for 66.9 per cent, adding that other notable markets in Asia were Singapore, United Arab Emirates, India and Japan.

He said Zambia's import products by category in February 2014 were capital goods, accounting for 42 per cent.

Mr Kalumbi said the consumer goods category was second with 19.9 per cent followed by intermediate goods category with 19.3 per cent while raw materials were fourth with 18.8 per cent.

In February and January 2014 the country had been a net importer of capital goods, contributing an average of 40.6 per cent of the total imports.

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