Zambia has posted a trade surplus in September 2023. This is a positive sign for the country’s economy and could potentially lead to growth and development in the future if this trend continues in the coming months and years.
According to recent reports, the country recorded a trade surplus of K2.31 billion in August 2023 compared to a surplus of K2.33 billion in July 2023.
Exports mainly comprising domestically produced goods, increased by 9.1 percent to K19.1 billion in August 2023 from K17.5 billion in July 2023.
This was mainly on account of 7.9, 17.2, 16.2, and 13.1 percent increases in export earnings from Intermediate goods, Raw materials, Capital goods, and Consumer goods, respectively.
Imports, on the other hand, increased by 10.7 percent to K16.8 billion in August 2023 from K15.1 billion in July 2023.
This was mainly as a result of 12.4, 19.8, 5.0, and 6.7 percent increases in import bills of Consumer goods Capital goods, Intermediate goods, and Raw materials, respectively.
Meanwhile, Traditional Exports (TE’s) earnings increased by 4.6 percent to K11.8 billion in August 2023 from K11.3 billion in July 2023. In terms of share in total exports, TEs accounted for 62.0 percent during the month under review.
Non-Traditional Exports (NTEs) earnings increased by 17.3 percent to K7.2 billion in August 2023 from K6.2 billion in July 2023. In terms of share in total exports, NTEs accounted for 38.0 percent in August 2023.
