Preliminary data shows that Zambia’s merchandise trade balance recorded a surplus of US$186.6 million compared to a deficit of US$316.4 million in the first half of 2016, according to finance minister Felix Mutati.
In his recently released review of the first half of 2017 he says “the positive external sector performance was due to a rebound in copper and cobalt export earnings as export volumes and realised prices recovered.
“However, non-traditional exports declined on account of a reduction in exports of maize, gemstones, cotton lint and wheat,” he adds.
Imports grew by 15.4% to US$3.938 billion in the first half of 2017 from US$3.412 billion in the same period of 2016, Mutati said higher imports of food items, fertiliser, chemicals, industrial boilers and equipment accounted for the growth.
