Business

Non-traditional exports increase

TRYNESS TEMBO, Lusaka
ZAMBIA has recorded an increase in non-traditional exports (NTEs) from about K1.4 billion in May to over K1.6 billion in June due to increased demand for selected equipment and products.
Central Statistical Office (CSO) director of census and statistics John Kalumbi said the country’s major NTEs were telephones for networks which accounted for 21.3 percent followed by semi-manufactured forms which accounted for 13.4 percent.
Mr Kalumbi last week said other notable NTEs were maize, tobacco and cotton, among others.
“NTEs increased by 20.8 percent from K1,389.7 million in May, to K1,678.7 million in June. The share of NTEs recorded an average of 27.2 percent in revenue earnings between June and May,” he said.
He also said metal exports increased by 3.6 percent from about K4 billion in May, to over K4.2 billion in June.
Mr Kalumbi said the overall contribution of metals and their products to the total export earnings in June and May average 72.8 percent.
He said between January and June 2016, the volume of refined copper exhibited a fluctuating trend with the highest volume of 86,513.3 tonnes recorded in January, and the lowest volume of 66,161.5 tonnes recorded in April.
He, however, said the price of refined copper on the London Metal Exchange registered a steady increase between January and March from US$4,462.75 per tonne to US$4, 947.55 per tonne before declining to US$4,630.64 per tonne in June.
“In June, the total value of metal exports was K4, 171 million from K4,025.3 million recorded in May. Since copper accounts for the largest proportion of traditional exports, any change in the volume and price has a direct bearing on the performance of traditional exports,” he said.



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