ZAMBIA has recorded more than US $7 billion worth of exports for 2010 as compared to $4.312 billion for 2009 following expansion in investments and improvement in market access.
Commerce, Trade and Industry Minister Felix Mutati said Zambia registered a 29 per cent rise in exports of commodities from 2008 to 2010 and its major exports included copper, cobalt, electricity and tobacco.
Mr Mutati said most of ZambiaÃs main exports were headed for the United Kingdom (UK), Switzerland, Tanzania, Zimbabwe and South Africa.
In the year 2008, export figures stood at $5, 098,688,004 and later dropped to $4,312,054,540 in 2009 but went up to $7,200,267,057 in 2010 respectively.
“Our increase in the exports of the commodities to the UK, Switzerland, Tanzainia, Zimbabwe and South Africa is as a result of improved market access particularly in the rules of access such as the Free Trade Area,’’ Mr Mutati said in response to a Press query.
The minister said the share of the non-traditional exports (NTEs) to the total exports had been growing from 19 per cent in 2006 to 23 per cent in 2009.
He said Zambia endeavors to diversify its exports products both to the region and international markets and focus on NTEs.
The Government’s target was to increase NTE to 30 per cent of the total exports by 2015.
The top five destinations for Zambia’s exports are Switzerland, China, South Africa, Democratic Republic of Congo (DRC) and United Arabs Emirates.
Mr Mutati said the Government had put in place measures to transform the industrial sector by expanding the industrial base and increase value addition.
Value addition would be through the development of the Multi-Facility Economic Zones
(MFEZ) and Industrial Parks.
Mr Mutati said the measure put in place would help expand the export base especially with the development of the MFEZ.
“ We will continue to promote the development of the MFEZ in Zambia aimed at increasing local and foreign direct investment, employment creation, skills development and transfer to local entrepreneurs and communities as well as contribute to the diversification of the economy,’’ he said.
[Times of Zambia]
Fantastic news Mr. Mutati. This is great I think it might be historic. I hope we can beat this figure this year. Zambia is truly on the right path. I also like that govt has plans laid out on how it’ll diversify the economy through MFEZs and Industrial Parks which is essentially what I have been telling people on this blog.
Great news. We are indeed on the right direction. In 1995 the Zambian budget was 63% funded by donors. 2010 budget is 14% funded by donors 73% by local revenue and 13% from borrowings. We need to appreciate that our country is moving forward. Zambia is now the 11th largest economy in Africa.
So what Mr Mutati?
This is the kind of news we like to hear – keep it coming MMD and you will definitely get my vote!
All these announcements are meaningless when your govt allows 100% externalisation of sales and profits. I would smile if even just 50% percent was required to remain in the Zambian economy. In our region only Zambia allows such and we wonder why our currency is so weak! There is nothing to celebrate Mr Minister, we are just making money for other countries/people.
No. 5 do you release that 65% of input cost in all copper production is sources from suppliers locally in Zambia. Please read a bit about economics before you make a comment otherwise you are exposing your ignorance
Working Minister – you should succeed RB in 2016 B Feligo,you are vibrant!
KU South Africa. Stop telling lies. Your MMD govt has been saying these investors have to pay back the loans(borrowed from their countries of origin) they used to invest here. Even if that was the case would that not support my views of retaining atleast 50% of all sales and profits in the Zambian economy? Why would anyone promote the raping of their own economy and resources?
#6 Ku South Africa…. Its you that exposing nausiating levels of ignorance.. The economic value ($9,500/t) generated by the mines is not being shared in an equitable manner at all..The Average operating costs of the mining companies is around $2,700 a metric tonne.. The mines are selling at $9,500 per tonne.. They are making an effective 300% profit and paying back nothing, damaging our little road infrastructure etc… An effective tax system ensures all costs that coudl be envisioned (repairing roads, people time , security (police/cutoms) ) are recovered from ultimate selling price.. our tax regime your foolish GRZ are refusing to change puts us at a real conomic loss.. a 1 billion from that increase would be a fair levy to cover all costs
Only this MMD Government is able to get this sleeping economic giant awake, and ofcourse through the able leadership of an economics enlightened RB.Vote MMD & RB nafuti nafuti.
# 9 Digga,
Listen. Even if the mines have to keep all th $9500/tonne money here and give it all to government, our infrastructure would still be pathetic? Why? Because of our ingrained thieving attitudes, our donchi kubeba attitudes, our lack of care for our own country.
Don’t give me that bullshit that the reason we are are where we are is because the mines are not giving us enough. Maybe it’s not, but still, with what they do actually contribute, we should at least resemble a bit like Joburg. We instead look like Lagos. Money is there, but it’s siphoned off.
No. 8 and 9 Â In 1995 when ZCCM owned the mines, the Zambia budget was 60% funded by donors the country was broke. 2010 mines are in private hands, the budget in 2010 was funded by 73% local revenue, 12% donors and 15% from local and international loans. Now tell me where the 73% local revenue came from????
Do not just make noise do a bit reading…
we are a failed nation because of so many people who are proud of minute achievements the leaders score,you are the kind who were satisfied with just clearing in college. We can do far much better than we are doing,you are the kind of people who want your children to sing songs of praises for you when you buy food (katapa) at home,it’s your damn responsibility and do a better job by buying chicken!!!!
We have these guys over working our poorly done roads while the government has given the rail line to the jews for the reason God knows!!! Adding salt to the injury,our population is full of lazy people….failed nation,from all angles!!!
The Bible describes a scenario where a young man called Stephen was about to be stoned to death by his audience after he had eloquently delivered a factual history of their country. The people ‘closed their ears’ and rushed headlong to throw him out, picked up stones to stone him. I think the situation in Zambia is now like this. People have stopped listening to facts, they have closed their ears (and eyes) and are now rushing headlong to put Mr Sata into State House! They do not care what happens but they will wake up in 2012 to find that they are ruled by Frankeinstein!
Well #11 Logic.. because its ours , let it be ours to waste.. you cannot sign away our childrens the birth rights because you think we’ll just because, by your logic, they’ll watse it and not put it to good… Unlike you .. I still believe there is good, intelligence and fight in a zambian so one day i believe well be a ka johburg.. As for #12 Ku South Africa.. You clearly don’t know anything about Zed’s Fiscal budget and deficits there of funded through OMO/ PSBR & external bilateral borrowing (China).. Multilateral lenders have limit budget support.. Your Govt is adding the bilateral borrowings from good all whether friends (china) not. and bond and otehr issues in the “local funding” so that air heads like you can think wow. we are okay now. dah!
No. 15 if Zed has alot of you then Zambia will never be kajoburg in your life time. Have you looked at the national accounts and seen were the budget funding comes from? Its very nice for you to know abit about OMO/PSBR, budget deficits… Â i see Chiluba taught you abit of economic english… Â go read the National Income Accounts then come write some sense.
Ku South Africa. You seem to suffer from a serious case of inferiority complex. Do you actually believe we are getting a fair share from our resources? You keep talking about joburg joburg, do you know how it was developed to that level? Was it by worshiping your so called investors?