• Preliminary Annual Gross Domestic Product at constant 2010 prices for the year 2021 show economic activities grew by 3.6 percent.
• Total trade in February 2022 increased by 9.8%.
• Market working-age Population 15 years+ increased by 1.3% to 10.04 million in 2021.
Zambia Statistics Agency (ZAMSTATS) discloses that Annual inflation for March, 2022 has decreased to 13.1% from 14.2% recorded in February 2022, driven by the base effect.
Speaking during the Monthly Bulletin Dissemination in Lusaka, ZamStats Interim Statistician General Mulenga Musepa further noted that March 2022 overall monthly inflation was recorded at 0.8% from 1.7% recorded in February 2022.
“Annual food inflation for March 2022 was recorded at 15.3 percent compared to 16.0 percent recorded in February 2022.This development was mainly attributed to price movements in food items such as Fish (Frozen fish, Buka-Buka, Dried Bream-Medium Sized-Opened, and Dried Kapenta Chisense); Fruits (Lemons, Apples, Avocado, Watermelon Oranges,); Eggs; Butter; and Cooking oil Imported,” he said.
“Annual non-food inflation for March 2022 was recorded at 10.3 percent compared to 11.8 percent in February 2022. This slowdown was mainly attributed to price movements of non-food items such as Glassware, tableware and household utensils (Ceramic ware-plate,Hotplate (2 plate); Silver plate, cooking pot, Ironing board, charcoal Brazier); Jewellery, clocks and watches (Men’s wrist watch, Necklace, Suitcases, Umbrellas); cement, charcoal and Floor tiles-Porcellain-60×60). ” he added.
Mr. Musepa however added that Total trade in February 2022 increased by 9.8% to K28.2 billion compared to K25.7 billion in February 2021 with a Trade Surplus of K6 billion recorded the same month indicating 8.2% decrease from the January 2022 surplus of K6.5 billion.
He also discloses that the Preliminary Annual Gross Domestic Product at constant 2010 prices for the year 2021 show economic activities grew by 3.6 percent, from K137, 755.0 million in 2020 to K143, 447.6 million in 2021.
Mr. Musepa further revealed that Refined Copper export earnings in February 2022 increased by 1 percent to K13.4 billion from K13.2 billion in January 2022.
He said refined copper export volumes for the same month decreased by 11.6 percent to 71.9 thousand metric tons from 81.2 thousand metric ton in January 2022.
According to him London Metal Exchange Copper prices increased by 1.7 percent to US$ 9,941.35 per metric ton in February 2022 from US$9,775.9 per metric ton in January 2022.
The Zamstats Interim Statistician General added that Non Traditional Export Earnings increased by 8.9% to K3.7 billion in the period under review from K3.4 billion.
He noted with the 2021 Labour Force Survey, market working-age Population 15 years+ increased by 1.3% to 10.04 million in 2021 from 9.91 million in 2020 with 65.7 % of the Labour force in urban areas Vs 34.3 % in rural areas.
He said Employed Population was recorded at 66.3 % in urban areas while 33.7 % in rural areas with Informal sector employment accounting for highest proportion of the employed population: at 43.4 %
“In 2021, the unemployment rate was 12.5 percent, having increased from 11.4 percent in 2018. In the last three years, the highest unemployment was observed in 2020 at 13.8 percent,” Mr. Musepa stated.
