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Zambia’s export volumes of copper has declined to 66.6 thousands tonnes in December 2022, impacting on the country’s traditional export earnings for that month.
This saw Zambia’s traditional export earnings declining by 11.9 percent to K9.4 billion in December 2022 from K10.6 billion the previous month.
In terms of share in total exports, traditional exports accounted for 63.8 percent of export earnings in December 2022.
Read more : Copper exports hit K10.6bn, as Switzerland tops country’s destination
This is according to Zambia Statistical Agency (ZamStats) interim Statistician General Mulenga Musepa.
Addressing journalists in Lusaka on Thursday, Musepa said the export volumes of copper deceased by 19.7 percent to 66.8 thousand tonnes from 83.4 thousand tonnes in November 2022.
He said the export earnings from refined copper in December 2022 declined by 11.6 percent to K9.4 billion from K10.6 billion the previous month.
Further, Copper prices on London Metal Exchange (LME) market for the corresponding months increased by 4.2 percent to US$8,367.2 per tonnes in December 2022 from US$8,030.0 per tonnes the previous month.
Musepa indicated that the cumulative volumes of refined copper exported from January to December 2022 was 898.3 thousand tonnes while that of 2021 for the same period was 903.4 thousand representing a 0.6 percent decrease.
On the Non-Traditional Export (NTEs), he said the NTEs earnings decreased by 4.2 percent to K5.3 billion in December 2922 from K5.5 billion in November the previous year.
Musepa said in terms of share in total exports, NTEs accounted for 36.2 percent of total export earnings in December 2022.
“Agricultural products accounted for a share of 27.4 percent of Zambia’s NTEs in December 2022 compared to 29.9 percent in November 2022.
“Export earnings from agricultural products decreased by 12.5 percent to K1.5 billion in December 2022 from K1.7 billion in November 2022,” he said.
Musepa said the major export commodities were other corn, nes accounting for 10.6 percent, tobacco, partly or wholly stemmed/stripped and other raw cane sugar.
He said the non-agricultural products accounted for a share of 72.6 percent of Zambia’s NTEs in December 2022 compared to 70.1 percent in November 2022.
“Export earnings from non-agricultural products recorded a decrease of 0.6 percent to K3.86 billion in December 2022 from K3.89 billion in November 2022.
“The major export commodities were electrical energy accounting for 15.1 percent, Sulphur of all kinds and Sulphuric acid,” Musepa said.
He said Zambia’s major export products in December 2022 were from the intermediate goods category accounting for 84.4 percent.
Musepa indicated that exports from the consumer goods, raw materials and capital goods categories, collectively accounted for 15.6 percent of total exports in December, 2022.
He said major import product category in December 2022 was Intermediate goods, accounting for 48.5 percent.
Musepa said capital goods category was second at 22.0 percent, followed by the consumer goods and raw materials categories, accounting for 19.6 percent and 9.9 percent, respectively.
The major export destination in December 2022 was Switzerland, which accounted for 38.5 percent of the total export earnings.
Musepa said the main export product to Switzerland was copper anodes for electrolytic refining accounting for 68.9 percent of total export earnings from that country.
He said China was the second main destination of Zambia’s exports accounting for 18.2 percent of the total export earnings.
Musepa said the major export product to China was copper anodes for electrolytic refining, accounting for 77.8 percent of total export earnings from that country.
The Democratic Republic of Congo (DRC) was the third main export destination accounting for 18.1 percent of the total export earnings.
He said the major export products were Sulphur of all kinds accounting for 13.3 percent of total export earnings from that country.
Musepa indicated that Singapore was the fourth main export destination accounting for 7.7 percent of the total export earnings.
The major export products were, copper anodes for electrolytic refining, accounting for 78.4 percent of total export earnings from that country.
He indicated that Zimbabwe was the fifth main export destination accounting for 3.4 percent of the total export earnings.
The major export product was Electrical energy accounting for 23.3 percent of total export earnings from that country.
Musepa indicated that these five countries collectively accounted for 86.0 percent of Zambia’s total export earnings in December, 2022.
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