In July 2017, Zambia recorded a trade surplus valued at K410.6 Million from a trade deficit of K335.7 Million recorded in June 2017. This represents a 222.3 percent increase in the trade balance. This means that the country exported more in July 2017 than it imported in nominal terms.

There has been an increase of 21.2 percent in the total value of Metal exports (TEs) from K4,386.1 Million in June 2017 to K5,314.0 Million in July 2017. The overall contribution of Metals and their products to the total export earnings in July and June 2017 averaged 76.8 percent.

Non Traditional exports (NTEs) on the other hand have recorded a decrease of 9.6 percent from K1,522.0 Million in June 2017 to K1,376.6 Million in July 2017. The share of NTEs recorded an average of 23.2 percent in revenue earnings between July and June 2017.

Export highlights – July and June 2017

Zambia’s copper export volumes and London Metal Exchange (LME) prices

Between July and June 2017, the volume of Copper exported significantly increased by 16.4 percent, from 81,489.1 metric tonnes recorded in June 2017 to 94,851.5 metric tonnes in July 2017.

On the other hand, the corresponding price of Copper on the London Metal Exchange increased by 4.9 percent from USD5,699.48 per metric tonnes in June 2017 to USD5,978.60 per metric tonnes in July 2017.

Since Copper accounts for the largest weight/ proportion of Traditional Exports, any change in the volume and price/value has a direct bearing on the performance of Traditional Exports.

Zambia’s top 25 Non-Traditional Exports

Zambia’s major Non-Traditional Exports (NTE) for July 2017 were Cobalt oxides and hydroxides; commercial cobalt oxides in bulk, which accounted for 7.4 percent, followed by New stamps; stamp-impressed paper; cheque forms; Bank notes, etc; postage, revenue stamp, which accounted for 6.1 percent.

Other notable NTEs in July 2017 were Cotton, not carded or combed (5.5 percent) and Bullion semi-manufactured forms which accounted for 4.5 percent.

Exports by major product categories

Zambia’s major export products in July 2017 were from the intermediate goods category (mainly comprising Copper anodes for electrolytic refining and Cathodes of refined copper) accounting for 86.0 percent. Exports from the Consumer goods, Raw Materials and Capital goods categories, collectively accounted for 14.0 percent of total exports in July 2017.

Zambia’s major export destinations by commodity

The major export destination in July 2017 was Switzerland, which accounted for 50.2 percent of the total export earnings. The major export products to Switzerland were Copper anodes for electrolytic refining, accounting for 47.3 percent.

China was the second main destination of Zambia’s exports accounting for 11.8 percent of the total export earnings. The major export product to China was Copper blister, accounting for 57.8 percent of total export earnings to that country.

South Africa was the third main export destination accounting for 10.1 percent of the total export earnings. The major export product was Cathodes of refined copper accounting for 39.9 percent.

Congo DR was the fourth main export destination accounting for 5.8 percent of the total export earnings. The major export products were Sulphuric acid; oleum in bulk accounting for 13.6 percent of total export earnings to that country.

The fifth main export destination was Hong Kong, which accounted for 4.1 percent of the total export earnings. The major export products were Coppercobalt alloy, accounting for 83.2 percent. These five countries collectively accounted for 82.0 percent of Zambia’s total export earnings in July 2017.

Export market shares by selected regional groupings and major trading partners

Switzerland was the largest market for Zambia’s total exports in the month of July 2017, accounting for 50.2 percent.

Asia was the second largest market for Zambia’s total exports, accounting for 21.0 percent in July 2017. Within Asia, China was the dominant export market, accounting for 56.4 percent. Other notable markets in Asia were Hong Kong, Singapore, United Arab Emirates and India.

The SADC exclusive grouping was the third largest market for Zambia’s total exports accounting for 12.5 percent in July 2017. Within this grouping, South Africa was the dominant market with 81.1 percent. Other notable markets in this grouping were Tanzania and Botswana.

The Dual SADC & COMESA was the fourth largest market for Zambia’s total exports accounting for 11.0 percent in July 2017. Within this group, Congo DR was the dominant market with 53.1 percent. Other notable markets were Swaziland, Zimbabwe and Malawi.

The European Union grouping was the fifth largest market for Zambia’s total exports accounting for 2.2 percent in July 2017. Within this grouping, The United Kingdom was the dominant market with 56.4 percent. Other notable markets in this grouping were Luxembourg and Belgium.

The COMESA exclusive grouping was the sixth largest market for Zambia’s total exports accounting for 1.4 percent in July 2017. Within this group, Kenya was the dominant market with 44.3 percent. Other notable markets were Rwanda and Burundi.

The rest of the world accounted for the remaining 1.7 percent in July 2017.

Import highlights – July and June 2017

Imports by major product categories

The major import products by category in July 2017 were Capital goods category, accounting for 31.8 percent. The intermediate goods category was second with 28.3 percent followed by Consumer goods and Raw materials Categories, accounting for 26.3 percent and 13.6 percent, respectively.

Zambia’s major import sources by product

The major source of imports in July 2017 was South Africa, accounting for 29.6 percent. The major import products were Parts of machinery of 84.26, 84.29 and 84.30, not elsewhere specified and Sulphur of all kinds, each accounting for 2.6 percent.

The second source of Zambia’s imports was Congo DR, accounting for 22.6 percent. The major import products were Cobalt oxides and hydroxides; commercial cobalt oxides in bulk which accounted for 51.8 percent.

China was the third main source of Zambia’s imports, accounting for 10.5 percent. The major import products were Crushing or grinding machines for earth, stone, ores, etc accounting for 9.1 percent.

Other sources of Zambia’s imports were Kuwait and India, which collectively accounted for 10.2 percent of Zambia’s imports.

Import market shares by selected regional groupings and major trading partners

The SADC exclusive grouping was the major source of Zambia’s imports, accounting for 34.0 percent in July 2017. Within this grouping, South Africa was the dominant market with 86.9 percent. Other notable markets were Tanzania, Namibia, Mozambique and Botswana.

Asia was the second main source of Zambia’s imports accounting for 26.7 percent in July 2017. Within this grouping, China was the major source of Zambia’s imports accounting for 39.5 percent. Other notable markets were Kuwaiti, India, United Arab Emirates and Japan.

Dual SADC-COMESA was the third main source of Zambia’s imports, accounting for 26.6 percent in July 2017. Within this regional grouping, Congo DR was the main source of Zambia’s imports with 85.2 percent. Other notable markets were Mauritius, Zimbabwe, Swaziland and Malawi.

The European Union was the fourth largest source of Zambia’s imports accounting for 7.3 percent. Within this grouping, United Kingdom was the main source of Zambia’s imports with 28.0 percent. Other notable markets were Sweden, Germany, Belgium and Finland.

The COMESA exclusive grouping was the fifth largest source for Zambia’s imports accounting for 0.6 percent in July 2017. Within this grouping, Kenya was the dominant market with 77.1 percent. Other notable markets were Egypt, Burundi, Ethiopia and Uganda.