19.2 C
Lusaka
Monday, February 6, 2023
spot_img
HomeBusinessK10.6bn from copper Earnings rose by K1.1bn more for November than October

K10.6bn from copper Earnings rose by K1.1bn more for November than October

ZAMBIA’S export earnings from refined copper гове то Kio 6 billion in November, up from K9.5 billion in October, price on the international market as the non-traditional exports (NTE) increased by three percent to K5.5 billion due to improved commodity price on the international market as the non-traditional exports (NTE) increased by three percent to K5.5 billion

During the period under review, copper export volumes increased by 6.6 percent to 83,400 tonnes, up from 78.200 tonnes in October 2022.

Zambia Statistics Agency interim statistician general Mulenga Musepa revealed that copper prices on the London Metal Exchange (LME) market for the corresponding months increased by 35 percent to US$8.037 96 per tonne in November, from US$7,621 21 per tonne in October.

“The cumulative volume of refined copper exported from January to November 2022 was 831,400 tonnes, while that of 2021 for the same period was $22.000 tonnes, representing a11 percent increase,” Mr Musepa told journalists last week.

Meanwhile, he said NTE earnings increased by three percent to K3 5 billion in November from K5.4 billion in October.

Mr Musepa said agricultural products accounted for a share of 29.9 percent of NTE: in November, compared to 28.9 percent in October

He said export earnings from agricultural products increased by 6.9 percent to K1.7 billion in November from K1 6 billion in October. with the major commodity being tobacco, accounting for 9.5 percent.

However, non-agricultural products accounted for a share of 701 percent of NTE in November 2022, compared to 71.1 percent in October 2022.

Mr Musepa said export earnings from non-agricultural products recorded an increase of 1.5 percent to K3 9 billion in November 2022, up from K3 8 billion in October

The major export commodities were electrical energy, accounting for 165 percent, sulphur of all kinds at 13.4 percent and sulphuric acid at 7.3 percent.

On the destinations, he said Switzerland was the major importer, accounting for 39 6 percent, followed by China at 16.4 percent, third was Democratic Republic of Congo at 15.9 percent, while Singapore and Zimbabwe accounted for 9.2 percent and 3.2 percent respectively.

These five countries collectively accounted for 84.3 percent of Zambia’s total export earnings in November.

While the major NTE1 destination in November was DRC, which accounted for 46.5 percent, Zimbabwe was the second at 9.3 percent and South Africa was third at 7.6 percent.

RELATED ARTICLES
- Advertisment -
Royal Charter

Most Popular