ZAMBIA recorded a reduced trade surplus of K43 million in April from K79.5 million in March while the annual inflation rate has remained at 7.8 percent for this month.
Central Statistical Office (CSO) director John Kalumbi said exports declined from K5.34 million in March to K4.44 million in April while imports increased from about K4.3 million in March to about K5.3 million last month.
Mr Kalumbi said at a press briefing in Lusaka yesterday that the highest trade surplus recorded was valued at K295 million in January this year and the lowest was valued at K43 million in April.
“Zambia recorded a trade surplus valued at K43 million in April compared to K79.5 million recorded in March, 2014.This means that the country exported more in April, 2014 than it imported in nominal terms,” he said.
On the annual rate of inflation, Mr Kalumbi said it was maintained at the 7.8 percent.
He said of the total 7.8 percent, food and non-alcoholic beverages accounted for 4.1 percent while non-food products accounted for 3.7 percent.
He said, however, that the annual food inflation rate for this month increased to eight percent from 7.6 percent recorded last month while annual non-food rate decreased by a one percent from 7.9 percent to 7.6 percent.
“The annual rate of inflation as measured by all items consumer price index for May 2014 was recorded at 7.8 percent compared to the 7.8 percent recorded in April. This means that on average prices increased by 7.8 percent between May 2013 and May 2014,” he said.
Mr Kalumbi said a comparison of retail prices between April and May this year shows that the national average price of a 25kg bag of breakfast mealie-meal increased by 1.9 percent from K73.37 to K74.77.
A 25kg bag of roller mealie-meal decreased by 1.3 percent from K58.48 to K57.74 while a 20 litre tin of maize grain decreased by 15.7 percent from K36.03 to K30.36 .
Heheheheheheheheheheheheheheheeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee!
When this clowns will stop insulting our intelligence?
Inflation rate @ 7.8% and Kwacha value @ -40%?
THE REAL INFLATION WE ARE EXPERIENCING IS NOT BEING REFLECTED BY THESE OBVIOUSLY MASSAGED FIGURES FROM THIS PATHETIC DIRECTOR.
WE SHOULD TACKLE THE REAL CAUSE OF THE DECLINE OF THE KWACHA INSTEAD OF FOOLING OURSELVES.
A BRITSH PRIME MINISTER ONCE SAID PEOPLE LIKE THE DIRECTOR KEEP THREE SETS OF FIGURES:
1. TO MISLEAD THE CABINET
2. TO MISLEAD THE PUBLIC
3. TO MISLEAD THEMSELVES!!
I bet the decline in exports will be greater, imports will also be higher when you factor in the exchange loss of the Kwacha! Bushe tuleya kwiiii?
This business of measuring economy by the amount of Kapenta and mealie-meal consumed is so depressing. When are we going to grow?