Zambia Records Trade Deficit Of ZMW0.6 Billion

Zambia Statistics Agency (ZamStats) has disclosed that the country recorded a trade deficit of K0.6 billion in August 2024 compared to the Surplus of K1.4 billion recorded in July 2024.

Speaking at a media briefing, Agency Statistician General Goodson Sinyenga says exports mainly comprising domestically produced goods, decreased by 4.6 percent from 25.8 billion in July 2024 to 24.6 billion in August 2024.

Mr. Sinyenga states that this was mainly on account of declines in export earnings from Intermediate goods by 3.2 percent, Raw materials 16.9 percent, Consumer goods 16.9 percent and Capital goods 29.3 percent.

He notes that imports increased by 3.2 percent from K24.4 billion in July 2024 to K25.2 billion in August 2024, on account of increases in import bills of Intermediate goods by 6.6 percent, Consumer goods 2.4 percent and Capital goods 0.4 percent.

He also reveals that export earnings from refined copper decreased by 4.6 percent from K17.2 billion in July 2024 to K16.4 billion in August 2024.

Mr. Sinyenga adds that refined Copper export volumes decreased by 6.4 percent from 68.7 thousand mt in July 2024 to 64.3 thousand metric tonnes in August 2024.