Tue, 20 Jun 2017 13:53:28 +0000
By BUUMBA CHIMBULU
ZAMBIA in 2016 recorded total export earnings of US$6.4 million with the mining sector contributing a larger portion of 8.8 percent, Zambia Development Agency (ZDA) announced recently.
According to ZDA, total exports recorded in 2016 were US$6,436.97 million compared to US$6, 991.02 million in 2015, representing a decline of US$7.56 percent.
ZDA in its 2016 Exporter Audit Report said the mining sector was the major contributor to the total export earnings during the period under review.
“The major players in the mining sector are Kansanshi Mining PLC, Mopani Copper Mines and Konkola Copper Mines, In 2016, the sub sector recorded export earnings of US$162.53 million compared to US$159.09 million recorded in 2015, representing a 2.1 percent increase. The sub sector made a contribution of 8.8 percent to the total export earnings for 2016,” reads the report.
The Agency said the main export products in the sub sector were bullion semi manufactured forms, other mineral substances, manganese, pebbles, sulphur of copper and semi manufactured silver.
ZDA explained that the major export markets for mining products were South Africa, Singapore, India Switserland United Arab Emirates.
It, however, outlined that challenges faced in the sector included low supply of raw materials, insufficient working capital arising from irregular Value Added Tax refunds as well as insufficient skilled labour.
According to ZDA, other challenged included irregular availability of local accessories and implements.
On Non-metallic minerals, the agency said the industry contributed US$ 62.10 million compared to US$53.32 million in 2015, representing an increase of 14 percent.
The agency indicated that the non-metallic sector made a contribution of 3 percent to the total Non Traditional Exports (NTEs) in 2016.
