Thursday, March 28, 2024

Zambia records K2.1 trillion trade surplus

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ZAMBIA has continued to record trade surplus valued at over K2.1 trillion for the first two months this year. CSO acting director of census and statistics John Kalumbi said the country’s trade surplus has been on an upswing side over the last 14 months.

Mr Kalumbi said the country recorded a trade surplus of K648.4 billion in February with the highest value of over K1.4 trillion in January this year. This means that the country exported more than it imported in value terms.

He said this at a press briefing in Lusaka on yesterday. Mr Kalumbi said products in February were from intermediate goods category mainly comprising copper cathodes and sections of refined copper and copper blister which accounted for 86.8 percent.

Other exports were from raw materials, consumer goods and capital goods categories which collectively accounted for 13.2 percent of total exports for February 2011.

And CSO says it expects to finalise the country’s 2010 gross domestic product (GDP) figures by next month.

Preliminary results released by CSO earlier showed that Zambia’s economy could have grown by 7.1 percent in 2010, driven by increased output in mining and quarrying, transport and communications, construction and agriculture. Other sectors include forestry and fishing, and wholesale and retail trade.

Mr Kalumbi said the department is currently collecting data for last year before coming up with the official figure.

“We are just winding up mopping up data, hopefully by May the country should be informed of the final results,” he said.

In the 2011 budget speech, Finance Minister and National Planning SitumbekoMusokotwane forecast economic growth of 6.6 percent in 2010 and 6.4 percent in 2011.

[Zambia Daily mail]

10 COMMENTS

  1. the deranged will still say it is PLM legacy. Some will say Zambia still has street kids, some druged ones will say 174 homeless…. fonyoo..fonyoo.
    Even in the richest country in the world the USA, they have those problems. So you can continue with your ill wishes for this GRZ, but the development show will go on.
    One vote, only one RB

  2. #3 I agree with you totally. In the USA you still have homeless people and the most deplorable living standards. The situation in Zambia can not be changed in 90 days. Only a very f.oolish person can believe that. If we continue to grow year on year then the levels of poverty will continue to go down. This year we will have another bumper harvest. This will mean that the farmers will have more money in their pockets and the consumers will also have more money in their pockets as the inflation rate goes down. This is what you call real economics not the abracadabra kind espoused by some populist opposition leaders.

  3. Our Country with a national cake of just under $5 bn a year, any trade surplus is welcome. This is very good news indeed. Only a dooms day prophet or those who may not fully understand the concept of trade surplus would scorn at this news. Given the vastness of our country and so many competing needs such as healthy care education, infracture development, public civil service emoluments etc we can only commed RB for doing what he is doing. My own district has had no school or hospital for 47 years, but this year RB’s Govt. has build a district hospital and a high school. I can only encourage them to continue the good work and create a conducive environment for more trade surplus and investment.

  4. The news is indeed very good only disgruntled myopic people will pour scorn on it. Bravo, RB, Bo Situmbeko, Caleb, Mutati, and the all the team that is interested in seeing this country transform to a middle income country by 2030. Infact we may reach the target earlier if we remain focused.

  5. Wow, wow, wow, this MMD Government is really posting growth, hey? Now this is encouraging news.RB, icho!!

  6. This is a positive development and all of us should be happy. Therefore, it is true the country is rich, but what is the problem for all to start feeling this gain? I bet some do not know going by some of the postings above. the problems are
    1. weak leadership around planning and implemetation for instance no money to repair roads but money to pay graduite for for MPs is available, wasting money on the NCC, when Mong’mba paper has all info
    2. No clear stance on corruption which increases cost of the govt to offer social and developmental services to the nation
    3. Doing business within family tree which results in deals like Zamtel sale.
    therefore it is not the suplus issue but prudent management is not part of the MMD. We can give you our votes if you change the team composition…

  7. This is the only thing ive seen as a continuation of the late Prez Mwanawasa’s economic policies. Economies everywhere in the world are struggling, but you have recorded a surplus. Good show mr. Prez. we will give you praise where it is due, hoping that you are not cooking figures.

  8. This a positive development. If only we could have the MFEZ coming to fruition, we shall keep on loosing opportunities of realizing more Forex and jobs. Kudos to the leadership. Of course we could do better but credit is due when such strides are made in a country that has not seen so much growth in decades.

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