Business

Zambia in high metal exports

TRYNESS TEMBO, Lusaka
ZAMBIA has recorded an increase in the export value of metals from about K3.6 billion in April to almost K4 billion in May due to improved price of copper on the international market.
The overall contribution of metals and their products to the total export earnings in May and April 2016 averaged 71.9 percent.
Central Statistical Office deputy director for census and statistics Goodson Sinyenga said this at a press briefing last week.
“There has been an 11.4 percent increase in the total value of metal exports from K3,614.8 million in April to K4,025.3 million in May, 2016,” he said.
Mr Sinyenga, however, said there has been a decline in the exports of non-traditional exports (NTEs) by 12.3 percent from about K1.6 billion in April to almost K1.4 billion in May.
Of the May and April, 2016 exports, NTEs recorded an average of 28.1 percent.
He said Zambia’s major NTEs in May 2016 were mobile telephone handsets and others wireless gadgets which accounted for 29.5 percent followed by minerals, which accounted for eight percent.
Other NTEs in May 2016 were bullion, semi-manufactured goods, copper wire and maize which collectively contributed 12.9 percent.
Mr Sinyenga said Zambia sold copper to Switzerland which accounted for 44.5 percent of the exports. This was followed by copper cathodes and copper blister to China and the United Arab Emirates, representing 7.6 percent.
Other export destinations were the Democratic Republic of Congo which accounted for 5.9 percent and India which constituted 4.9 percent.

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