Zambia has for the first time in over four years recorded a Trade Surplus.
Central Statistical Office Acting Director for Census and Statistics Iven Sikanyiti says Zambia recorded a trade surplus of K938 Million in January 2019 from a trade deficit of K543.9 Million recorded in December 2018.
Mr. Sikanyiti says this trade surplus means that the country exported more though at a reduced rate than it imported in nominal terms.
He however says imports decreased notably by 21.4 percent from K9.4 billion in December 2018 to K7.4 billion in January 2019.
“This decrease is mainly attributed to the reduction in imports of Raw materials from K1,453.3 million to K327.0 million (78.8 percent) and Capital goods from K3,918.7 million to K2,969.7 million (24.2 percent),” he said.
“Exports equally decreased though slightly by 6.1 percent from K8,915.6 Million in December 2018 to K8,373.6 Million in January 2019. The decrease in the value of exports is mainly attributed to the decrease in the Raw materials exports and Consumer goods exports by 30.0 percent and 25.0 percent respectively. Therefore, the net effect of these dynamics in trade was the trade surplus.”
The highest trade surplus was recorded in January 2014 valued at K 295.4 Million and the lowest being the trade deficit in January 2015, valued at K 113.7 Million, according to the 2015 January Bulletin.
Meanwhile the inflation Rate for the month of February 2019 has declined from 7.9 percent in January to 7.8 percent in February 2019.
Mr Sikanyiti says food and non-alcoholic beverages accounted for 4.1 percentage points while non-food items accounted for 3.7 percentage points.
“The year on year inflation rate as measured by the all items Consumer Price Index (CPI) for February 2019 decreased to 7.8 percent from 7.9 recorded in January 2019. This means that on average, prices of goods and services increased by 7.8 percent between February 2018 and February 2019,” said Mr. Sikanyiti.
“The annual rate of inflation increased for Alcoholic Beverages and Tobacco; Housing, Water, Electricity, Gas and Other Fuels; Furnishing, Household Equipment and Household Maintenance; Health; and Transport. Transport had the highest increase in inflation from 19.0 percent in January 2019 to 20.7 percent in February 2019. The annual rate of inflation reduced for Food and Non-alcoholic beverages; Communication; Recreation and Culture; Education; and Miscellaneous goods and services. Education had the highest reduction from 7.6 percent to 5.9 percent.”

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