Saturday, May 29, 2010

Zambia records trade surplus

Zambia records trade surplus
By Fridah Zinyama
Fri 28 May 2010, 08:00 CAT

THE Central Statistical Office (CSO) has revealed that Zambia recorded a trade surplus valued at K1.1 trillion last month. And the annual rate of inflation, as measured by the all items Consumer Price Index (CPI) has reduced slightly to 9.1 per cent this month from 9.2 per cent last month.

The recent increase in fuel prices will be reflected in the June 2010 CPI.
Releasing the monthly bulletin yesterday, CSO director Efreda Chulu said the trade surplus meant that the country exported more in April than it imported.

Chulu attributed the slight decline in inflation to the decrease in some food prices that the country experienced.

“Of the total 9.1 per cent annual inflation in May 2010, food products accounted for 3.2 percentage points, while non-food products in the Consumer Price Index (CPI) accounted for a total of 5.9 percentage points,” she said. “The annual food inflation rate was recorded at 6.5 per cent in May 2010, a decline from 7.3 per cent in April 2010.”

Chulu said the annual non-food inflation rate was recorded at 11.6 per cent in May 2010, an increase from 11.2 per cent in April 2010.

“Regarding disaggregate groups, the annual inflation rates declined for clothing and footwear, household fuel and lighting, furniture and household goods and services,” she pointed out. “But the annual inflation rates increased for medical care, transport and communication, recreation and education.”

Chulu added that a comparison of retail prices between last month and this month, shows that the national average price of a 25 kilogramme (kg) bag of white roller meal declined by 5.1 per cent from K48,940 to K46,459, while the average price of a 20 litre tin of maize grain declined by 14.2 per cent, from K23,871 to K20,473.

“The national average price of a 1kg of tomatoes declined by 5.1 per cent, from K4,011 to K3,806, while the national average price of a 1kg of dried Kapenta Siavonga increased by 3.6 per cent from K51,982 to K53,874,” she said.

Meanwhile, Chulu said Zambia’s major export products in April 2010 were from the intermediate goods category accounting for 76.9 per cent comprising mainly copper cathodes and sections of refined copper and copper blister.

“The raw materials category was second with 18.2 per cent comprising mainly of copper ores and concentrates; and cobalt ore concentrates,” said Chulu. “Other exports were consumer goods and capital goods collectively accounting for 5.0 per cent of total exports for April 2010.”

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