ZAMBIA recorded a trade deficit of K1, 226.1 million as at November 2015 mainly due to a rise in imports, according to latest Central Statistical Office (CSO) report.
The new deficit however represented a 52.6 percent decrease in the trade deficit from K2, 585.3 million recorded in October.
This meant that Zambia imported more in November 2015 than it exported in nominal terms.
However, the highest trade deficit recorded in 2015 was in October 2015 whose valued stood at K2, 585.3 million while the lowest was recorded in February at K74.8 million.
Zambia’s major export products in November 2015 were from the intermediate category, mainly comprising copper cathodes and sections of refined copper, accounting for 80.0 percent.
Exports from the consumer goods, raw materials and capital categories, collectively accounted for 20.0 percent of the total export in November last year.
This implied that between November and October last year, Zambia was a net exporter of intermediate goods, mainly metals and their articles, which on average accounted for 77.9 percent of the total exports.
The major export destination in November 2015 was Switzerland which accounted for 43.8 percent of the total export earnings and products exported included cathodes and sections of cathodes of refined copper.
China was the second main destination of Zambian exports accounting for 11.6 percent of the total earnings with major exports products being copper blisters.
The third main export destination was Singapore accounting for 6.8 percent with export products of cathodes and sections of cathodes of refined copper accounting for 87.5 percent.
South Africa was the fourth main export destination accounting for 6.2 percent of the total export earnings while DR Congo DR was the fifth main export destination.
Zambia’s main export to South Africa was wire aluminium while DR Congo imported sulphuric acid.
These five countries collectively accounted for 73.7 percent of Zambia total export earnings in November last year.