Zambia records K181.5m trade surplus

BUUMBA CHIMBULU writes ZAMBIA recorded a trade surplus valued at K181.5 million in March 2020, a shift from a trade deficit of K119.5 million in February 2020. Zambia Statistics Agency (ZSA) Interim Statistician, Mulenga Musepa, explained that the trade surplus meant that the country exported more than it imported in nominal terms. Mr Musepa said when announcing the inflation rate for March 2020 this week that exports which mainly comprised of domestically produced goods increased by 6.6 percent from K7, 829.1 million in February 2020 to K8, 346.4 million in March 2020.  “This out turn was mainly attributed to a 10.8 percent increase in export earnings from Intermediate goods,” he said. Mr Musepa also said imports increased by 2.5 percent from K7, 948.6 million in February 2020 to K8, 146.9 million in March 2020.  This increase, he explained, in imports was mainly attributed to higher import bills for the Intermediate goods and Consumer goods categories of 18.4 percent and 7.1 percent, respectively. Mr Musepa also said data collection for the 2019/2020 Crop Forecasting Survey Update had gone well despite some challenges such as flooding in some parts of Luapula, North-western, Western and Eastern provinces. He indicated that an estimated 93.2 percent of the targeted 13,600 households had been covered.  “Data collection among Large-Scale farms is currently at 90 percent. Data collection, nationwide, is expected to be completed this week. Results around mid-May,” Mr Musepa said. He further said the agency had continued with the 2020 Census preparatory activities under strict observance of Covid – 19 safety and health measures as guided by the Ministry of Health. “Further, the Agency is taking full advantage of several online (virtual) solutions to undertake these activities. Mapping and Listing in the five provinces (Copperbelt, Eastern, Luapula, North-Western and Western) has just been Completed. Mr Musepa said the exercise had been completed for Luapula province. The Sun