Advertise with fastmoving.co.za
 
 

Metal exports soar, Zambia
Metal exports soar, Zambia

Metal exports soar, Zambia

FMCG SUPPLIER NEWS

Times.co.zm - Mar 17th 2014, 09:05

A rise in copper export income has pushed Zambia’s metal export earnings to US$7,086.6 billion from $6.511 billion posted in 2012. The merchandise imports bill also increased to $9,234.8 billion. 

The metal exports figures represent an increase of 8.8 per cent while merchandise import bill represents a 16.5 per cent rise.

Bank of Zambia (BoZ) governor Michael Gondwe said the outturn was driven by an increase in copper export earnings which went up by 10.3 per cent to $6.941.3 billion from $6.294.5 billion in 2012.

This was on account of an 11.3 per cent increase in copper export volumes as the realised average price of copper declined to $7,073.82 per tonne from $7,135.84 per tonne registered in 2012.

Addressing Journalists in Lusaka, Dr Gondwe said Cobalt earnings declined by 32.9 per cent to $145.3 million in 2013 from $216.5 million in 2012, due to low export volumes as well as registered realised prices.

The volume of cobalt export volumes declined by 26.4 per cent to 6,146.29 tonnes. Similarly, the average realised price of cobalt fell by 2.8 per cent to $23,635.55 per tonne, Dr Gondwe said. He said during 2013, merchandise export earnings grew by 13.0 per cent to $10.398.5 billion from $9.204.6 billion posted the previous year, driven largely by growth in metal and non-traditional exports (NTE’s).

“NTEs increased by 23 per cent to $3,321 million during the year mainly on account of higher earnings from the export of copper wire, burley tobacco, cane sugar, fresh flowers, fresh fruits and vegetables, electricity, petroleum products, cement, lime and electric cables,” Dr Gondwe said.

He said the merchandise trade surplus narrowed by 3.3 per cent to $1,402.3 million in 2013.
This was driven by a higher increase in merchandise imports relative to the rise in merchandise exports,” Dr Gondwe said.

The increase merchandise import bill was largely owning to increased economic activity following Government’s investment in infrastructure development as well as the rise in foreign investment inflows.










© 2013 Times of Zambia 

Related News

Shoprite shakes up Zambia’s retail sector with world-class store
01/04/2019 - 11:28
The Shoprite Group is set to change the face of retail in Zambia with the opening of the new world-class store in the Woodlands/Kabulonga area.

Pick n Pay introduces blood oranges to its fresh produce offering
22/03/2019 - 10:19
Fruit lovers no longer have to travel to Europe to taste the goodness of blood oranges. Pick n Pay has added rare blood oranges to its fresh produce offering making it the first retailer to offer this unique fruit to customers.

Supermarkets are growing fresh produce in ‘pick your own’ aisles
07/03/2019 - 14:13
SUPERMARKETS are to start growing fresh produce in ‘pick your own’ aisles.

Food prices dip in October
05/11/2018 - 13:37
International food commodity prices dipped in October, as falling dairy, meat and vegetable oils prices more than offset a surge in sugar prices, according to the United Nations.

RCL’s sugar business takes strain
06/09/2018 - 21:28
The government should do more to shield food and sugar producers from the influx of cheap imports, RCL Foods CFO Rob Field said.