March 2023 records a Trade Surplus

The country recorded a trade deficit of K2.8 billion in March 2023 compared to a surplus of K2.8 billion in February 2023 (see Table 10).

Exports mainly comprising domestically produced goods, decreased by 5.8 percent to K17.0 billion in March 2023 from K18.1 billion in February 2023. This was mainly on account of  8.3  and  5.2 percent decreases in export earnings from intermediate goods and raw materials, respectively (see Table 2.2 in Annex).  

Imports increased by 29.3 percent to K19.8 billion in March 2023 from K15.3 billion in February 2023. This was mainly as a result of 44.3, 23.5, 90.1 and 11.0 percent increases in import bills of, Capital goods, Intermediate goods, Raw Materials and Consumer goods, respectively (see Table 2.2 in Annex)

Table 10: Total Exports, Imports and Trade Balance, Mar. 2023 (K’ Billion)

Months Imports Domestic Exports Total Exports Trade Balance
Jan-22 10.2 16.5 17.0 6.9
Feb-22 11.1 17.0 17.4 6.3
Mar-22 12.7 18.1 19.0 6.3
Quarter 1 34.0 51.6 53.5 19.5
Apr-22 12.2 15.9 16.7 4.4
May-22 13.9 16.6 17.6 3.7
Jun-22 14.1 15.3 16.6 2.5
Quarter 2 40.2 47.8 50.8 10.6
Jul-22 12.3 15.1 16.3 4.0
Aug-22 12.1 14.4 15.8 3.7
Sep-22 13.1 13.4 14.7 1.6
Quarter 3 37.5 42.9 46.8 9.3
Oct-22 12.3 14.1 15.2 2.9
Nov-22 13.4 15.3 16.2 2.8
Dec-22 15.2 13.9 14.7 -0.5
Quarter 4 40.9 43.3 46.1 5.2
Total: 152.7 185.6 197.2 44.5
Jan-23 14.9 19.8 21.0 6.1
Feb-23 15.3 17.1 18.1 2.8
Mar-23 19.8 15.9 17.0 -2.8
Quarter 1 * 50.1 52.8 56.1 6.0

Source: ZamStats, 2023

Note: These trade data are compiled based on the General Trade System 

Domestic Exports-These are Commodities grown, produced or manufactured locally including commodities imported from foreign countries that have been significantly changed or enhanced in value. Re-Exports=Total Exports-Domestic Exports. (*) Provisional 

Vol-241-of-2023-The-Monthly-April

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Overall Monthly Inflation Rate at 0.9 Percent

The overall monthly inflation for April 2023 was recorded at 0.9 percent compared with 1.0 percent in the previous month. This outturn was mainly attributed to price decreases in selected food items (see Figure 3).

Figure 3: Overall Monthly Inflation, April 2022-April 2023

Monthly Inflation Rates for Food and Non-Food Items

Monthly food inflation for April 2023 was recorded at 0.9 percent compared with 1.1 percent in March 2023. This development was mainly attributed to general price movements for Fish (Bukabuka and Dried Kapenta Siavonga ); Fruits (Lemons, Oranges, Water Melon Avocado, Groundnuts); Vegetables (Cassava leaves, Okra, Sweet Potatoes, Chikanda Tubers); Milk Products (Sour milk, Powdered milk, butter ); and Live Chicken.

Monthly non-food inflation for April 2023 was recorded at 1.0 percent compared with 0.9 percent in March 2023. This outturn was mainly attributed to increases in prices of items such as,  Purchase of motor vehicles (Toyota hilux, Nissan Almera, Nissan hardbody, Motor cycle); Dining suite, Carpet, Blanket, Stove/Cooker, Heater 2 bar (see Table 5).

 

Table 5: Overall Monthly Inflation Rate for Food and Non-Food Items, April 2022-April 2023 (%)

  Weight:  Apr-

2022 

May-

2022 

June-

2022 

July-

2022 

Aug-

2022 

Sep-

2022 

Oct-

2022 

Nov-

2022 

Dec-

2022 

Jan –

2023 

Feb –

2023 

Mar –

2023 

Apr –

2023 

Total 1,000.00 0.7 0.8 0.9 0.4 0.3 -0.4 0.2 0.7 0.8 2.1 1.9 1.0 0.9
Food 534.85 1.1 0.9 1.2 0.3 0.4 -0.2 0.4 0.9 0.5 2.8 2.0 1.1 0.9
Non-

Food

465.15 0.1 0.8 0.6 0.7 0.1 -0.6 -0.2 0.5 1.1 1.1 1.9 0.9 1.0

Source: ZamStats, 2023

 

District Prices for Selected Products, April 2023

The Consumer Price Basket consists of 440 items which are spread across selected outlets in all the 116 districts of Zambia. Over 23,000 price quotations are collected from these outlets between the 1st and 10th of every month. The minimum and maximum prices for selected products by district are highlighted in Table 6.

 

Table 6: District Prices for Selected Products, April 2023

Product Description  Unit of Measure  Price (K)  Minimum  Price (K)  Maximum 
Location  Location 
Breakfast Mealie Meal 25 kg 160.00 Monze 285.00 Mporokoso
Roller Mealie Meal 25 kg 112.00 Siavonga 240.00 Chilubi
Maize Grain 20 litre tin 60.00 Kabompo 160.00 Mbala
Cooking Oil 2.5 Litres 98.00 Kitwe 170.00 Shangombo
Eggs Tray 40.00 Mongu 90.00 Serenje
Sugar 2 Kg 40.50 Chadiza 55.00 Chingola
Charcoal 50 kg bag          40.00   Mporokoso 300.00 Lusaka
Cement 50 kg 125.00 Kitwe 180.00  Kaputa

Source: ZamStats, 2023

 

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Year-on-Year Inflation for April 2023 at 10.2 Percent

Annual inflation for April 2023 increased to 10.2 percent from 9.9 percent recorded in March, 2023. This means that on average, prices of goods and services increased by 10.2 percent between April 2022 and April 2023 (see Figure 3). This development was mainly attributed to an increase in prices of selected non-food items.

Figure 1: Annual Inflation Rate, April 2022- April 2023 (%)

Annual Food and Non-Food Inflation

Annual food inflation for April 2023 was recorded at 11.6 percent compared to11.8 percent in the previous month (see Figure 4). This outturn was mainly attributed to price movements in Fish (Frozen fish, Buka buka, Fresh kapenta); Fruit (Lemon, Apple, Avocadoes, Groundnuts); Cooking oil and Live chicken.

The annual non-food inflation for April 2023 increased to 8.3 percent from 7.3 percent in March 2023. This outturn was mainly attributed to increases in prices of non-food items such as Household appliances (Refrigerator, Stove/cooker) and Purchase of Motor vehicles (Toyota Hilux, Nissan ALMERA 1.5 L Acenta MT, Nissan Pick (Nissan Hard body)).

Figure 2: Annual Food and Non-Food Inflation, April 2022-April 2023 (%) 

       

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February 2023 records a Trade Surplus-(K2.8 bn)

The country recorded a trade surplus of K2.8 billion in February 2023 compared to a surplus of K6.1 billion in January 2023 (see Table 15).

Exports mainly comprising domestically produced goods, decreased by 13.8 percent to K18.1 billion in February 2023 from K21.0 billion in January 2023. This was mainly on account of a 10.7, 33.0, 22.5 and  47.4 percent decrease in export earnings from Intermediate goods, Raw Materials, Consumer goods and Capital goods, respectively (see Table 2.2 in Annex).  

Imports increased by 2.7 percent to K15.3 billion in February 2023 from K14.9 billion in January 2023. This was mainly as a result of 33.2, 4.0 and 5.3 percent increases in import bills of, Capital goods Consumer goods and Raw Materials, respectively (see Table 2.2 in Annex).

Table 15: Total Exports, Imports and Trade Balance, Feb. 2023 (K’ Billion)
Months Imports Domestic Exports Total Exports Trade Balance
Jan-22® 10.2 16.5 17 6.9
Feb-22® 11.1 17 17.4 6.3
Mar-22® 12.7 18.1 19 6.3
Quarter1® 34 51.6 53.5 19.5
Apr-22® 12.2 15.9 16.7 4.4
May-22® 13.9 16.6 17.6 3.7
Jun-22® 14.1 15.3 16.6 2.5
Quarter2® 40.2 47.8 50.8 10.6
Jul-22® 12.3 15.1 16.3 4
Aug-22® 12.1 14.4 15.8 3.7
Sep-22® 13.1 13.4 14.7 1.6
Quarter3® 37.5 42.9 46.8 9.3
Oct-22® 12.3 14.1 15.2 2.9
Nov-22® 13.4 15.3 16.2 2.8
Dec-22® 15.2 13.9 14.7 -0.5
Quarter4® 40.9 43.3 46.1 5.2
Total:® 152.7 185.6 197.2 44.5
Jan-23* 14.9 19.8 21 6.1
Feb-23® 15.3 17.1 18.1 2.8
Total Jan-Feb,23 30.2 36.9 39.1 8.9

Source: ZamStats, 2023

Note: These trade data are compiled based on the General Trade System 

Domestic Exports-These are Commodities grown, produced or manufactured locally including commodities imported from foreign countries that have been significantly changed or enhanced in value. Re-Exports=Total Exports-Domestic Exports. (*) Provisional 

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Overall Monthly Inflation Rate at 1.0 Percent

The overall monthly inflation for March 2023 was recorded at 1.0 percent compared with 1.9 percent in the previous month. This outturn was mainly attributed to price decreases in selected food and non-food items (see Figure 5).

Figure 5: Overall Monthly Inflation, March 2022-March 2023

Monthly Inflation Rates for Food and Non-Food Items

Monthly food inflation for March 2023 was recorded at 1.1 percent compared with 2.0 percent in February 2023. This development was mainly attributed to general price movements for Cereals (Breakfast Mealie Meal, Roller Mealie Meal); Fish (Fresh Kapenta, Dried Kapenta Siavonga and Chisense); Fruits (Lemons, Apples, Pawpaw, Groundnuts); Vegetables (Mushrooms, Pumpkin Leaves, Sweet Potatoes Leaves, Green Beans, Cabbage, Chikanda Tubers).

Monthly non-food inflation for March 2023 was recorded at 0.9 percent compared with 1.9 percent in February 2023. This outturn was mainly attributed to decreases in prices of items such as  Bed and Mattress, Carpet, Spark plugs, Charcoal, Car Tyre-Radial, Engine oil (see Table 10).

Table 10: Overall Monthly Inflation Rate for Food and Non-Food Items, Mar 2022-Mar 2023 (%)
  Weight:  Mar-

2022 

Apr-

2022 

May-

2022 

June-

2022 

July-

2022 

Aug-

2022 

Sep-

2022 

Oct-

2022 

Nov-

2022 

Dec-

2022 

Jan –

2023 

Feb –

2023 

Mar –

2023 

Total 1,000.00 0.8 0.7 0.8 0.9 0.4 0.3 -0.4 0.2 0.7 0.8 2.1 1.9 1.0
Food 534.85 0.9 1.1 0.9 1.2 0.3 0.4 -0.2 0.4 0.9 0.5 2.8 2.0 1.1
Non-

Food

465.15 0.6 0.1 0.8 0.6 0.7 0.1 -0.6 -0.2 0.5 1.1 1.1 1.9 0.9

Source: ZamStats, 2023

District Prices for Selected Products, March 2023

The Consumer Price Basket consists of 440 items which are spread across selected outlets in all the 116 districts of Zambia. Over 23,000 price quotations are collected from these outlets between the 1st and 10th of every month. The minimum and maximum prices for selected products by district are highlighted in Table 11.

Table 11: District Prices for Selected Products, March 2023
Product Description  Unit of Measure  Price (K)  Minimum  Price (K)  Maximum 
Location  Location 
Breakfast Mealie Meal 25 kg 150.00 Kitwe 250.00 Mporokoso
Roller Mealie Meal 25 kg 125.00 Chipata 210.00 Chilubi
Maize Grain 20 litre tin 52.00 Kasempa 160.00 Mbala
Cooking Oil 2.5 Litres 100.00 Kitwe 185.00 Shangombo
Eggs Tray 45.00 Chongwe 90.00 Serenje
Sugar 2 Kg 39.50 Kitwe 55.00 Chingola
Charcoal 50 kg bag          45.00   Zambezi 300.00 Lusaka
Cement 50 kg 115.00 Luanshya 165.00  Kaputa

Source: ZamStats, 2023

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Year-on-Year Inflation for March 2023 at 9.9 Percent

Annual inflation for March 2023 increased to 9.9 percent from 9.6 percent recorded in February, 2023. This means that on average, prices of goods and services increased by 9.9 percent between March 2022 and March 2023 (see Figure 3). This development was mainly attributed to an increase in prices of selected non-food items.

Figure 3: Annual Inflation Rate, Mar 2022- Mar 2023 (%)

Annual Food and Non-Food Inflation

Annual food inflation for March 2023 increased to 11.8 percent from 11.6 percent the previous month (see Figure 4). This outturn was mainly attributed to price movements in Cereals (Breakfast Mealie Meal, Roller Mealie Meal, Maize grain, Rice local); Meat (Fillet Steak, Rump Steak, Brisket, Mixed Cut, T-bone, Goat Meat); Vegetables (rape, Tomatoes, Cabbage, Sweet potatoes); Cooking oil and Eggs.

The annual non-food inflation for March 2023 increased to 7.3 percent from 6.9 percent in February 2023. This outturn was mainly attributed to increases in prices of non-food items such as Passenger transport by road and air; and Purchase of Motor cars (Toyota hilux, Nissan ALMERA 1.5 L Acenta MT, Nissan Pick (Nissan Hardbody)).

Figure 4: Annual Food and Non-Food Inflation, Mar 2022-Mar 2023 (%)

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A One Day Training on Statistical Leadership – Monday 3rd April 2023

The UN Economic Commission for Africa (UNECA) and UK’s Office for National Statistics (ONS) are delighted to open up a limited number of spaces for attendees of the 2023 IAOS – ISI conference to attend a one day taster of their Statistical Programme on Monday 3rd April.

Registration is open at the following link:

https://www.eventbrite.co.uk/e/statistical-leadership-training-taster-session-tickets-564668367287n

There is no charge for attendance, and we will provide lunch, but you will need to arrange your own travel and accommodation. There are limited spaces on the course, so please only sign up if you are making a firm commitment to attend.

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January 2023 records a Trade Surplus – (K6.1bn)

January 2023 records a Trade Surplus – (K6.1bn)

  • Trade Surplus(K6.1bn) posted in Jan. 2023.
  • Exports increased by 42.6%, while imports decreased by 1.6%

The country recorded a trade surplus of K6.1 billion in January 2023 compared to a deficit of K0.5 billion in December 2022 (see Table 10).

Table 10: Total Exports, Imports and Trade Balance, Jan. 2023 (K’ Billion)
Months Imports Domestic Exports Total Exports Trade Balance
Jan-22® 10.2 16.5 17.0 6.9
Feb-22® 11.1 17.0 17.4 6.3
Mar-22® 12.7 18.1 19.0 6.3
Quarter1® 34.0 51.6 53.5 19.5
Apr-22® 12.2 15.9 16.7 4.4
May-22® 13.9 16.6 17.6 3.7
Jun-22® 14.1 15.3 16.6 2.5
Quarter2® 40.2 47.8 50.8 10.6
Jul-22® 12.3 15.1 16.3 4.0
Aug-22® 12.1 14.4 15.8 3.7
Sep-22® 13.1 13.4 14.7 1.6
Quarter3® 37.5 42.9 46.8 9.3
Oct-22® 12.3 14.1 15.2 2.9
Nov-22® 13.4 15.3 16.2 2.8
Dec-22® 15.2 13.9 14.7 -0.5
Quarter4® 40.9 43.3 46.1 5.2
Total:® 152.7 185.6 197.2 44.5
Jan-23* 14.9 19.8 21.0 6.1

Source: ZamStats, 2023

Note: These trade data are compiled based on the General Trade System 

Domestic Exports-These are Commodities grown, produced or manufactured locally including commodities imported from foreign countries that have been significantly changed or enhanced in value. Re-Exports=Total Exports-Domestic Exports. (*) Provisional 

 

 

 

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National Average Prices (Kwacha) – Cereals

National Average Prices for Selected Products, February 2023 

 

On a monthly basis, retail prices between January 2023 and February 2023 showed that the national average price of a 25 kg bag of Breakfast Mealie Meal increased by 8.48 percent from K181.46 to K 196.84. The price of a 25 kg bag of Roller Mealie Meal increased by 9.85 percent to K162.78 from K148.19.

The monthly national average price of a 20-litre tin of Maize Grain increased by 4.64 percent from K93.44 to K97.78.

On an annual basis, retail prices between February 2022 and February 2023 showed that the national average price of a 25kg bag of Breakfast Mealie Meal increased by 25.72 percent from K156.57 to K196.84 while that of a 25 kg bag of Roller Mealie Meal increased by 28.61 percent from K 126.57to K162.78.

The annual national average price of a 20-litre tin of Maize Grain increased by 32.94 percent from K73.55to K97.78 (see Table 7) in the February bulletin for more information.

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Monthly Inflation, February 2022 – February 2023 (%)

Overall Monthly Inflation Rate Increased to 1.9 Percent

 The overall monthly inflation for February 2023 was recorded at 1.9 percent compared with 2.1 percent in the previous month. This outturn was mainly attributed to price decreases in selected food items (see Figure 3).

Figure 3: Overall Monthly Inflation, February 2022-February 2023

Monthly Inflation Rates for Food and Non-Food Items, February 2022-February 2023

Monthly food inflation for February 2023 was recorded at 2.0 percent, a fall from 2.8 percent in January 2023. This development was mainly attributed to general price movements for Milk Products (Fresh Milk, Sour Milk, and Powdered Milk); Fruits (Lemons, Avocadoes, Bananas); Vegetables (Mushrooms, Pumpkin Leaves, Sweet Potato Leaves, Green Beans, Cucumbers, Carrots).

Monthly non-food inflation for February 2023 was recorded at 1.9 percent an increase from 1.1 percent recorded in January 2023. This outturn was mainly attributed to increases in prices of items such as Fuels & lubricants (Diesel, Petrol, Lubricants); Purchase of motor vehicles and Charcoal (see Table 5).

Table 5: Overall Monthly Inflation Rate for Food and Non-Food Items, Feb 2022-Feb 2023 (%)
  Weight:  Feb-

2022 

Mar-

2022 

Apr-

2022 

May-

2022 

Jun-

2022 

Jul-

2022 

Aug-

2022 

Sep-

2022 

Oct-

2022 

Nov-

2022 

Dec-

2022 

Jan-

2023 

Feb-

2023 

Total 1,000.00 1.7 0.8 0.7 0.8 0.9 0.4 0.3 -0.4 0.2 0.7 0.8 2.1 1.9
Food 534.85 1.9 0.9 1.1 0.9 1.2 0.3 0.4 -0.2 0.4 0.9 0.5 2.8 2.0
Non-

Food

465.15 1.5 0.6 0.1 0.8 0.6 0.7 0.1 -0.6 -0.2 0.5 1.1 1.1 1.9

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