Business

Zambia copper exports drop

TRYNESS MBALE, Lusaka
THE fluctuating of copper price on the international market has led to a decrease in the value of metal exports for Zambia to about K3.7 million in November from over K3.8 million, a report has revealed.
A Central Statistical Office (CSO) report indicates that the reduction represents a 5.5 percent decline.
Commenting on the report, CSO director John Kalumbi attributed the decrease to the drop in copper volume exports to about 85,000 tonnes last month from over 89,000 tonnes in October as well as fluctuating copper prices on the international market.
Mr Kalumbi said at the CSO monthly briefing on Wednesday that copper prices on the international market dropped to US$6,340 in November from US$6,850 in October, representing a 0.4 percent reduction in price.
“In terms of metals of traditional exports, these recorded a 5.5 percent drop in nominal terms about K3.7 million to K3.6 million.
“The exports decreased due to the decrease in the volume of copper export in terms of tonnage from about 89,000 tonnes in October to 85,000 in November and there was a corresponding drop in the copper price on the international market,” he said.
On non-traditional trading exports (NTEs), Mr Kalumbi said Zambia recorded a raise to over K1.6 million in November from about K1.2 million the previous month.
During the period under review, Zambia’s major NTEs products were precious and semi-precious stones which accounted for 14.9 percent which was followed by tobacco accounting for 12.8 percent.
Among other NTEs were candles, refined copper wire, sulphuric acid and bulk oleum.

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