• Exports mainly comprising domestically produced goods, decreased by 8.0 percent to K15.8 billion in October 2023.
• Imports decreased by 6.1 percent to K16.8 billion in October 2023 from K17.9 billion in September 2023.
• Cumulative total trade from January to October 2023 was K336.7 billion while that of 2022 stood at K290.2 billion.

Zambia Statistics Agency (ZamStats) has disclosed that the country recorded a trade deficit of K1 billion in October 2023 compared to a deficit of K0.8 billion in September 2023.
Addressing Journalists in Lusaka, Agency Statistician General, Mulenga Musepa revealed that exports mainly comprising domestically produced goods, decreased by 8.0 percent to K15.8 billion in October 2023 from K17.2 billion in September 2023.
Mr. Musepa attributed the trade deficit to 10.5, 11.2 and 31.4 percent decreases in export earnings from Intermediate goods, raw materials and capital goods, respectively.
“Imports decreased by 6.1 percent to K16.8 billion in October 2023 from K17.9 billion in September 2023. This was mainly as a result of 19.6, 7.1 and 4.0 percent decrease in import bills of Consumer goods, Capital goods and Raw materials, respectively,” Mr. Musepa said.
He further stated that cumulative total trade from January to October 2023 was K336.7 billion while that of 2022 for the same period stood at K290.2 billion representing a 16.0 percent increase.
Mr. Musepa added that the total value of exports via all modes of transport for the same period was K171.4 billion, with road transport accounting for the highest at K82.0 billion representing 47.8 percent share.
“Rail transport was second at K7.2 billion representing 4.2 percent and Air transport was third accounting for K 3.6 billion or 2.1 percent. Other modes of transport accounted for K78.6 billion representing 45.8 percent.”
“The total volume of exports via all modes for the period January to October 2023 was 8.4 million Metric tonnes, of which Road transport accounted for 4.6 million Metric tonnes, representing 54.1 percent. Rail transport accounted for 54.2 thousand Mt, representing 0.6 percent. Air transport accounted for 2.8 thousand Mt or 0.03 percent, while other modes accounted for 3.8 million or Mt 45.2 percent,” he stated.
Mr. Musepa also revealed that Traditional exports (TE’s) earnings declined by 14.8 percent to K9.3 billion in October 2023 from K10.9 billion in September 2023, while Non-Traditional Exports (NTEs) earnings rose by 3.9 percent to K6.5 billion during the same period.
He said, in terms of share in total exports, TEs accounted for 58.8 percent during the month under review, whereas NTEs accounted for 41.2 percent in October 2023.
“Export earnings from refined copper in October 2023 decreased by 14.8 percent to K9.2 billion from K10.8 billion in September 2023. Copper export volumes during the month of October 2023 decreased by 15.6 percent to 54.1 thousand mt from 64.1 thousand mt in September 2023.”
“Further, copper prices on London Metal Exchange market for the corresponding months decreased by 4.0 percent to US$7,939.7 per mt in October 2023 from US$8,270.9 per mt in September 2023,” Mr. Musepa added.