Business Headlines

Zambia’s copper exports up by over 30%

TRYNESS MBALE-TEMBO, Lusaka
ZAMBIA’S copper exports increased by over 30 percent as at November 2015, according to the Central Statistical Office (CSO).
CSO director of census and statistics John Kalumbi said Zambia recorded an increase in copper exports from K4.4 billion in October 2015 to K6 billion the same year, representing a rise of 36.6 percent.
The metal was exported in the form of refined copper and copper cathodes.
Speaking at a media briefing recently, Mr Kalumbi said the overall contribution of metals and their products to the total export earnings in November and October averaged 72.4 percent.
“There has been a 36.6 percent increase in the total value of metal exports from K4.39 billion in October 2015 to over K6 billion in November 2015,” Mr Kalumbi said.
He said Zambia also recorded an increase in non-traditional exports (NTEs) from about K1.8 million in October to over K2.1 billion in November.
Mr Kalumbi said NTEs recorded an average of 27.6 percent in revenue earnings during the period under review.
Zambia’s major NTEs in November last year included, maize, which accounted for 10.5 percent, and precious and semi-precious stones accounting for 8.1 percent.
Others were mineral substances, wire of aluminum, and tobacco which collectively accounted for 16.6 percent.
Mr Kalumbi said Zambia’s major export destination in November 2015 were Switzerland, which accounted for 43.8 percent followed by China, which stood at 11.6 percent while Singapore, South Africa and the Democratic Republic of Congo recorded 6.8 percent, 6.2 percent and 5.3 percent, respectively.
The five countries collectively accounted for 73.7 percent of Zambia’s total export earnings in the period under review with major import products including consumer goods accounting for 35.6 percent, capital goods were second at 29.8 percent followed by intermediate goods at 23.8 percent and raw materials at 10.8 percent.
Zambia was a net buyer of consumer goods in November and October last year, contributing an average of 37.1 percent of the total imports.

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