The cumulative total trade from January to March 2024 was K120.0 billion while that of 2023 for the same period was K103.1 billion, representing a 16.4 percent increase (see Figure 4)

 Figure 4: Cumulative Total Trade, Jan-Mar (2024 and 2023), K’ Billion

Total Exports and Imports by Mode of Transport, Jan-Mar, 2024

The total value of exports via all modes of transport for the period,  January to March 2024 was K60.6 billion. Road transport accounted for the highest value at K27.9 billion representing 46.1 percent. Air transport was second with K1.6 billion (2.6 percent) and Rail transport was third with a value of K1.5 billion (2.4 percent). Other modes of transport accounted for K29.6 billion (48.9 percent).

The total volume of exports via all modes for the period,  January to March was 2.3 million Mt, of which Road transport accounted for the highest volume with 1.2 million Mt, representing 54.5 percent. Rail transport accounted for 8.6 thousand Mt, representing 0.4 percent. Air transport accounted for 1.0 thousand Mt (0.04 percent), while other modes accounted for 1.0 million Mt (45.1 percent) (see Table 8).

Table 8: Total Exports by Mode of Transport, Jan-Mar,2024

The total value of Imports via all modes of transport for the period of January to March was K59.4 billion. Road transport accounted for the highest value with K31.7 billion representing 53.3 percent share, followed by Air transport at K3.4 billion (5.8 percent). Rail transport was third with K0.2 billion accounting for 0.3 percent of the total import bill. Other modes of transport accounted for K24.1 billion (40.6 percent).

In terms of volumes, a total of 1.7 million Mt of imports was recorded in the period, January to March 2024, of which Road transport accounted for 898.6 thousand Mt, representing the highest share at 52.0 percent, followed by Rail transport which accounted for 40.7 thousand Mt, representing a share of 2.4 percent. Air Transport was third accounting for 3.1 thousand Mt (0.2 percent), while other modes accounted for 784.0 thousand Mt (45.4 percent) (see Table 9).

Table 9: Imports by Mode of Transport, Jan-Mar, 2024

The overall monthly inflation for April 2024 was recorded at 1.0 percent from 1.2 percent recorded in the previous month. This outturn was mainly attributed to price movements in selected food items (see Figure 3).

Figure 3: Overall Monthly Inflation, April 2023- April 2024

Monthly Inflation Rates for Food and Non-Food Items

Monthly food inflation rate for April 2024 was recorded at 1.0 percent compared with 2.4 percent recorded in March, 2024. This means on average prices of goods and services decreased by 1.0 percent between March 2024 and April 2024. This development was mainly attributed to general price movements of Meats (Brisket, Mixed Cut, Mince Meat, Plain Pork Sausages,  Pork Chops, Goat Meat,); Fruits (Oranges, Lemons,Water Melon,Avocado’s, Groundnuts); and Vegetables (Pumpkin Leaves, Chinese Cabbage, Okra, Impwa, Pumpkin, Sweet potatoes).

Monthly non-food inflation rate for April 2024 was recorded at 1.0 percent compared with -0.3 percent recorded in March 2024. This means on average prices of non-food items increased by 1.0 percent between March 2024 and April 2024. This was mainly attributed to increases in prices of non-food items such as Pharmaceutical Products (Andrews liver salt,Magnesium Trisilicate, Fansider, Tetracycline, Asthma Cure (Salbutamol), Eye ointment (Tetracycline), Multivitamin); Other personal effects (Suitcases, Umbrellas,Coffin for an adult); Parcel delivery local, cost of internet services, Photocopying and Hammer milling charge.

Table 5: Overall Monthly Inflation Rate for Food and Non-Food Items, April 2023- April 2024 (%)

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Annual inflation for April 2024 increased to 13.8 percent from 13.7 percent recorded in March, 2024. This means that on average, prices of goods and services increased by 13.8 percent between April 2023 and April 2024 (see Figure 1). This development was mainly attributed to price movements of selected food items.

Figure 1: Annual Inflation Rate, April, 2023- April 2024 (%)

Annual Food and Non-Food Inflation

Annual food inflation for April 2024 was recorded at 15.7 percent compared to 15.6 percent in the previous month (see Figure 2). This means on average, prices of food items increased by 15.7 percent between April 2023 and April 2024. This outturn was mainly attributed to increases in prices of Bread and Cereals (Breakfast & Roller Mealie Meal, Maize grain, Samp, Rice, Bread,  Wheat Plain Household Flour); Fish (Frozen Fish, Buka Buka, Fresh Kapenta, Dried Bream-Medium Sized-Opened, Dried Kapenta Mpulungu, Dried Kapenta Siavonga, Dried Kapenta Chisense); Vegetables(Rape, Pumpkin Leaves, Spinach, Cabbage, Tomatoes, Onion).

The annual non-food inflation for April 2024 remained the same at 11.2 percent. The 11.2 percent inflation was mainly attributed to increases in prices of non-food items such as Shoes and other footwear (Men Leather Shoes local, Ladies leather shoes, Ladies synthetic shoes, Boys School, Shoes, Girls School Shoes); Pharmaceutical Products (Paracetamol, Andrews liver salt, Magnesium Trisilicate, Fansider, Tetracycline, Asthma Cure (Salbutamol), Multivitamin); Cement and Charcoal.

Figure 2: Annual Food and Non-Food Inflation, April 2023- April 2024 (%)

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