ZAMBIA recorded a trade surplus valued at K410.6 million in July after about two years of being in deficits as the inflation rate dropped further to 6.3 percent.
The trade surplus entails that the country exported more than it imported in July.
Central Statistical Office (CSO) attributes the increase to the improved copper price on the London Metal Exchange (LME) trading at US$6,808.50 a tonne and increased production by the mines.
CSO director of census and statistics John Kalumbi said Zambia’s copper exports significantly increased from 81,489 tonnes in June to 94,851tonnes in July.
Speaking at a CSO monthly briefing, Mr Kalumbi said the positive trend has also been boosted by copper prices, which went up from US$5,699 per tonnes in June to US$5,978 in July, representing a 4.9 percent rise.
“Since copper accounts for the largest weight/proportion of traditional exports, any change in the volume and price has a direct bearing on the performance of traditional exports.
“In July 2017, Zambia recorded a trade surplus valued at K410.6 million from a trade deficit of K335.7 million recorded in June 2917. This represents a 222.3 percent increase in the trade balance,” he said.
Mr Kalumbi said there was an increase in the total value of metal exports from about K4.4 billion in June to over K5.3 billion in July, translating into a 21.2 percent rise while total exports earnings were up by 76.8 percent to K6.69 billion.
Annual inflation, the rate has declined from 6.6 percent to 6.3 percent due to a reduction in the price of various food and non-food items.
Of the 6.3 percent, food and non-alcoholic beverages accounted for 2.7 percent while non-food items accounted for 3.6 percent.
“Year-on-year inflation rate as measured by the consumer price index for August reduced to 6.3 percent compared to 6.6 percent recorded in July,” Mr Kalumbi said.
He attributed the annual food inflation rate decrease from 5.3 percent to 5.1 percent to price changes for bread, cereals, meat, table salt and mushrooms.
Similarly, non-food items inflation dropped by 0.4 percentage point to 7.7 percent due to a reduction in the price of diesel and petrol as well as car battery and motor cars.
As accurately predicted and we expect the nation to continue making even more gains with the price of Copper expected to continue rising.
However we need to take diversification seriously and this requires Dora and Mutati to be fired. Mutati is an enemy of Small and Medium Enterprises and has failed to create an environment for them to flourish rather he has made it hard for such businesses. Dora has failed farmers with the maize floor price issue, she has deliberatly made it almost impossible for small scale farmers to export despite the lifting of the export ban by putting in measures that suit only rich middlemen and millers to export.
Tourism – Zambia has so many tourist attractions- David Livingstone sites, National Parks and Safaris. We need to efficiently use these resources!
You fire mutati and siliya and you are left with dundaheads who think of stealing 24/7…the gains being seen are due to input from MMD , PF are all tribal theives who think only of stealing and violence….
@ Spaka like lil:Always it’s tribe, tribe,tribe and tribe!!!!! The only thing thats comes to your mind when you read people’s names is tribe…SURELY, WHY!!!!???? Why should we rot our minds like that? How are we going to teach our children to appreciate each one of us as Zambians? You are saying ”if you fire Mutati” Mind you, the same Mutati is from the North. According to you, anyone fired from the PF is not from the ”tribal theives” how sad.
@Spaka like lilo you are right PF is good at nothing other violence and tribe politics. Could it because of the infiltration of street kids as Ministers or what?
Can somebody explain why the cost of living (according to CSO) is not up despite electricity tarrifs going up 50%, and with effect from 1 Sept up by another 25%. I hope somebody is not “cooking” up figures. I recall some President in South America being impeached for cooking figures in order to win re election!
This is fraudulent reporting by PF-foo-ls.
If it was bad news you would have been incontinent with joy.
All announcements and figures will be positive to influence the IMF which is due to consider the bailout.
If you read World Bank figures for Zambia there is no projection for trade surplus.. Unfortunately by Hon.Mutati announcing rubbery figures he has now caused all financial announcements to lack credibility and be subject to questioning the truth of all PF announcements… He really kicked an own goal that is haunting PF to thjs day.
I hope the figures are correct but again it is external forces that have imlroved the economy.
2020 tourism has to addressed but more professionally
Propaganda crap from PF crooks. Don’t buy the lies these crooks are vomiting.
Talking about tribe.Fyakale kabili bufontini sana
You want the IMF to confirm the figures and when they confirm you say Chagwa has bribed some officials at IMF.
These people are foools to the core.
That is the best Lungu and his team are good at. Concealing the truth and bribery. In today’s Zambian government its a prerequite qualification to have a crooked or illegal background. Otherwise if you are honest and tell the truth then you are alone.
The Lord King Jesus is still on the Throne. No weapon formed against Zambia shall prosper. The Seed was planted when Zambia became a Christian Nation. We Zambians need to continue being hard working people of faith & the Lord will do the rest to water & grow the seed with Leaving Water. We will never thirst again, we will never suffer again. Come October we shall gather again as a nation Lord to seek You & thank You for all you are doing for this Your Nation. God Bless Zambia!
*Living Water
@Spaka like lilo #1.1, actually you are the true dunderhead together with your cronies and not those people you are calling out! Your hatred of the leaders is not based on policy but on ethnicity! None of us who are well-educated cannot discern what UPND is all about!
Even prostitution from UTH is classed as well educated now ?
@The Chosen One,#8 God bless you! You are right! The devil is a loser! And so are his supporters and agitators of hate! Jesus is Lord over Zambia!
God Bless you too @ Sharon and God Bless Zambia!
Imwe ba UPNDonkeys, you have been told that the trade surplus is mainly due to increased copper prices on the world market. What is there to argue about. Even underfive has not disputed the figures and he is busy with personal political issues of no value to Zambia’s economic progress.
Twapapata ba UPNDonkeys, don’t you ever read?
Whatever the story is about,can I have it with my breakfast tomorrow?
Look at the PF rats dancing and clapping about the trade surplus, as welcome as it is, due higher copper prices, nothing or very little to do with PF and lungu.
After spending $10 + billion it is a shame that only higher copper prices can get Zambia a surplus,
Hopeless chaps ,these PF are.
This so called London metal exchange doesn’t even make sense to me? Why do they dictate prices of copper which they don’t even have or produce! Why can’t the copper producing countries in general decide which country will hold the trading office among them selves as at what cocoa producers have done removing the office from London to west Africa.