Zambia’s Copper Export Earnings Rise to K17.2 billion

Zambia’s export earnings from refined copper increased by 11.7 percent from K15.4 billion in September 2024 to K17.2 billion in October 2024.

On the other hand, refined Copper export volumes increased by 7.9 percent from 63 thousand metric tonnes in September 2024 to 68 thousand metric tonnes in October 2024.

According to Zambia Statistics Agency (ZamStats) Acting Statistician General Sheila Mudenda, the cumulative volume of refined copper exported from January to October 2023 declined by 1 percent.

“The cumulative volume of refined copper exported from January to October 2023 was 649.2 thousand metric tonnes, while that of 2024 for the same period was 642.5 thousand metric tonnes, representing a 1 percent decline,” Mrs. Mudenda revealed.

Mrs. Mudenda told Journalists at a media briefing that copper prices on the London Metal Exchange (LME) market for the corresponding months increased by 3.1 percent from US$9,254.5 per metric tonne in September 2024 to US$9,539.2 per metric tonne in October 2024.

She also disclosed that the major export destination in October 2024 was Switzerland, which accounted for 40.7 percent of the total export earnings.

Ms. Mudenda said the main export product to Switzerland was copper anodes for electrolytic refining accounting for 81.6 percent of total export earnings from that country, while China was the second main destination accounting for 18.6 percent of the total export earnings.

“The major export product to China was copper anodes for electrolytic refining, accounting for 72.4 percent of total export earnings from that country. Congo DR was the third main export destination of Zambia’s exports accounting for 9.4 percent of the total export earnings.”

“The major export products were Aerated Waters accounting for 9.8 percent of total export earnings from that country. United Arab Emirates was the fourth main export destination accounting for 7.4 percent of the total export earnings. The major export products were, Electro-refined copper cathodes High Purity accounting for 97.9 percent of total export earnings from that country,” she added.

She further revealed that Tanzania was the fifth main export destination accounting for 3.9 percent of the total export earnings, with the major export product being Mineral or chemical fertilizers accounting for 34.1 percent of total export earnings from that country.