December 2022 records a Trade Deficit
The country recorded a trade deficit of K0.5 billion in December 2022 compared to a surplus of K2.8 billion in November 2022 (see Table 10).
Exports, mainly comprising domestically produced goods, decreased by 9.2 percent to K14.7 billion in December 2022 from K16.2 billion in November 2022. This was mainly on account of a 10.1, 11.1, and 8.9 percent decrease in export earnings from Intermediate goods, Consumer goods, and Raw Materials, respectively (see Table 3.2 in Annex).
Imports increased by 13.0 percent to K15.2 billion in December 2022 from K13.4 billion in November 2022. This was mainly as a result of 13.5, 31.4, 0.7, and 3.4 percent increases in import bills of, Intermediate goods, Capital goods, Consumer goods, and Raw Materials, respectively (see Table 3.2 in Annex).
Table 10: Total Exports, Imports and Trade Balance, Jan. to Dec 2022 (K’ Billion)
|Months||Imports||Domestic Exports||Total Exports||Trade Balance|
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