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Zambia’s traditional export earnings decreased by 7.7 percent to K10.9 billion in September from K11.8 billion the previous months.
In terms of share in total exports, Zambia Statistical Agency (ZamStats) Statistician General, Mulenga Musepa, said traditional exports accounted for 63.6 percent during the month under review.
Read more: Zambia’s traditional export earnings decline by 2.3% in June
Musepa further stated during a media briefing in Lusaka on Thursday that earnings from refined copper declined by 7.6 percent to K10.8 billion from K11.7 billion in August.
He added that copper export volumes during the month of September decreased by 11.9 percent to 64.1 thousand metric tonnes from 72.8 thousand metric tonnes the previous month.
Furthermore, Musepa said the copper prices on London Metal Exchange (LME) market for the corresponding months decreased by 1.0 percent to US$8,270.9 per metric tonnes in September 2023 from US$8,351.8 per metric in August 2023.
He said the cumulative volume of refined copper exported from January to September 2023 was 594.7 thousand metric tonnes, while that of 2022 for the same period was 669.8 thousand metric tonnes.
Musepa said this represented a 11.2 percent decrease.
On Non-Traditional Exports (NTEs) earnings, Musepa said this also decreased by 13.7 percent to K6.3 billion in September from K7.2 billion the previous month.
In terms of share in total exports, he said the NTEs accounted for 36.4 percent in September 2023.
He said agricultural products accounted for 31.3 percent of Zambia’s NTEs in September compared to 32.8 percent the previous month.
“Export earnings from agricultural products decreased by 17.5 percent to K2.0 billion in September 2023 from K2.4 billion in August 2023.
“The major export commodities were other raw cane sugar accounting for 14.1 percent, tobacco, partly or wholly stemmed/stripped (12.5 percent) and other corn seed (10.4 percent),” Musepa said.
He pointed out that non-agricultural products accounted for a share of 68.7 percent of Zambia’s NTEs in September 2023 compared to 67.2 percent in August 2023.
Musepa indicated that export earnings from non-agricultural products decreased by 11.8 percent to K4.3 billion in September 2023 from K4.9 billion in August 2023.
He said the major export commodities were electrical energy accounting for 15.8 percent, sulphur of all kinds (7.3 percent) and nickel ores and concentrates (6.6 percent).
Musepa stated that Zambia’s major export products in September 2023 were from the intermediate goods category (mainly comprising copper anodes for electrolytic refining and Electro-refined copper cathodes (High Purity) accounting for 84.9 percent.
Exports from consumer goods, raw materials and capital goods categories, collectively accounted for 15.1 percent of total exports in September, 2023, according to Musepa.
He indicated that the major export destination in September was Switzerland, which accounted for 45.9 percent of the total export earnings.
The main export product to Switzerland was copper anodes for electrolytic refining accounting for 73.4 percent of total export earnings from that country.
He said Democratic Republic of Congo (DRC) was the second main export destination of Zambia’s exports accounting for 14.2 percent of the total export earnings.
The major export products to DRC were Sulphur of all kinds accounting for 12.8 percent of total export earnings from that country.
Musepa indicated that China was the third main destination accounting for 12.8 percent of the total export earnings.
The major export product to China, he said, was copper anodes for electrolytic refining, accounting for 59.8 percent of total export earnings from that country.
Singapore was the fourth main export destination accounting for 5.7 percent of the total export earnings.
“The major export products were, copper anodes for electrolytic refining, accounting for 37.5 percent of total export earnings from that country,” Musepa said.
He noted that South Africa was the fifth main export destination accounting for 3.2 percent of the total export earnings.
The major export product was Cotton, not carded or combed accounting for 16.8 percent of total export earnings from that country.
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