ZAMBIA’s metal and Non-Traditional Exports (NTEs) have dropped from K3,621.0 billion to K3,589.1 billion between February and March 2012 representing a decline of 0.9 per cent.
Central Statistical Office (CSO) director John Kalumbi attributed the decrease in Zambia’s metal exports due to the work stoppages and floods which halted production at the mining companies recently.
Mr Kalumbi said the overall contribution of metals and their products to the total exports earnings in March and February 2012 averaged about 72.4 per cent.
Addressing journalists in Lusaka, Mr Kalumbi said the share of traditional exports which were mainly metals in value terms accounted for K863, 907 million in March, 2012.
“The share of the NTEs recorded an average of about 27.6 per cent in revenue earnings between the two months,” Mr Kalumbi said.
He said the major export products in March were from intermediate goods comprising mainly of cathodes and sections of refined copper which accounted for about 84.5 per cent.
Other exports include consumer goods, raw materials and capital goods which collectively accounted for about 15.5 per cent of the total exports.
Mr Kalumbi said this implies that between March and February Zambia had a net exporter of intermediate goods, mainly metals and their articles, accounting for an average of 80.0 per cent of the total exports for two months.
Most of Zambia’s goods were exported to countries such as Switzerland, China, South Africa, Democratic Republic of Congo (DRC) and the United Kingdom.
These five countries collectively accounted for 76.6 per cent of Zambia’s total export earnings in March 2012.
Mr Kalumbi said the Southern African Development Community (SADC) was the largest market for Zambia’s total exports accounting for 30.4 per cent in March 2012.
Within the SADC, South Africa was the dominant market with 31.7 per cent.
Other notable markets were Tanzania, DRC and Zimbabwe. Asia was the second largest market for Zambia’s total exports accounting for 23.9 per cent in March 2012.
Mr Kalumbi said within Asia, China was the leading market with a share of 75.8 per cent.
Other notable markets were India, the United Arab Emirates and Hong Kong.
“As well, the Common Market for Eastern and Southern Africa (COMESA) was the third largest market for Zambia’s total exports accounting for 11.5 per cent in March 2012,” Mr Kalumbi said.
Within COMESA, DRC was the largest market with 53.6 per cent while other important markets were Zimbabwe, Malawi and Kenya.
The European Union (EU) was the fourth largest market for Zambia’s total exports accounting for 7.8 per cent in March 2012.
Within the EU, the United Kingdom was the leading market for Zambian products accounting for 77.9 per cent.
Other markets were Belgium, Luxembourg and Netherlands.
[Times of Zambia]
The next decline, three months down the line will be due to errrrrr. Ok, lets just say Mr Kalumbi will run out of expalinations in he near future, this looks like a decline due to a more central problem that he can not see….
Maybe things will improve soon. The word decline does not give confidence though.
@No.1, ke ke ke. Very LOL.