• The slowdown in annual inflation is mainly attributed to favorable price movements in both food and non-food items.
• Exports declined by 1.6 percent to K16 billion.
• Imports have decreased by 6.9 percent to K10.6 billion.

Zambia Statistics Agency (ZAMSTATS) says the annual rate of inflation for November, 2021 has decreased to 19.3 percent from 21.1 percent recorded in October 2021.

Speaking during The Monthly dissemination bulletin, Agency Interim Statistician General Mulenga Musepa explained the slowdown in annual inflation is mainly attributed to favorable price movements in both food and non-food items.

Meanwhile Mr. Musepa pointed out that Zambia recorded a trade surplus of K5.3 billion in October 2021 compared to a surplus of K4.8 billion in September 2021 indicating an 11.0 percent increase.

He said exports mainly comprising domestically produced goods, declined by 1.6 percent to K16 billion in October 2021 from K16.2 billion in September 2021.

“Raw materials and Intermediate goods also recorded decreases by 2.5 and 0.1 percent, respectively.” He noted.

Mr. Musepa explained this was mainly on account of a 49.8 percent fall in export earnings from Capital goods.

He stated that imports decreased by 6.9 percent to K10.6 billion in October 2021 from K11.4 billion in September 2021.

According to him, “this was mainly as a result of a 15.8, 20.7 and 7.0 percent decrease in import bills of Consumer goods, Raw materials and Capital goods, respectively.”