Zambia recorded a trade surplus of K3.5 billion posted in April 2026 as cumulative trade drops 9.5 percent Year on year.
Apparently, inflation dropped marginally to 6.6% in May from 6.8% recorded last month.
The annual food inflation led the May disinflation dropping to 6.9% from 7.1%. Annual non food inflation increased marginally to 6.1% from 6.0%.
Apparently, Zambia’s total trade declined by 8.2 percent in the first quarter of 2026, falling to K148.5 billion from K161.8 billion recorded during the same period last year, the Zambia Statistics Agency reported recently.
Statistician General Sheila Mudenda said the downturn reflects changes in both export and import performance over the three-month period.
“The figures reflect shifts in both export and import performance during the period under review,” Mudenda said.
She reviewed that exports between January and March 2026 totaled K79.8 billion, with road transport accounting for the overwhelming majority at K77.1 billion, representing 96.5 percent of the total export value.
She further indicated that air transport contributed K1.4 billion (1.8 percent), while rail accounted for K0.4 billion (0.5 percent).
By volume, exports reached 2.3 million metric tonnes. Road transport dominated with 1.9 million metric tonnes (80.8 percent), while other modes contributed 441,200 metric tonnes (18.8 percent). Rail and air transport accounted for marginal shares of 0.3 percent and 0.04 percent, respectively.
On the import side, Zambia recorded a total bill of K68.6 billion during the same period. Road transport again accounted for the largest portion at K35.2 billion (51.2 percent), followed by other modes at K29.8 billion (43.4 percent). Air and rail transport contributed K3.0 billion (4.4 percent) and K0.7 billion (1.0 percent), respectively.
Import volumes stood at 3.3 million metric tonnes, with other modes leading at 1.8 million metric tonnes (56.8 percent). Road transport followed at 1.4 million metric tonnes (41.3 percent), while rail and air transport accounted for 1.8 percent and 0.1 percent, respectively.
Meanwhile, Zambia posted a trade surplus of K0.8 billion in March 2026, sharply down from K5.7 billion recorded in February.
“Exports, largely comprising domestically produced goods, decreased by 8.1 percent from K27.2 billion in February to K25.0 billion in March 2026,” Mudenda said.
“This was mainly due to reduced export earnings from intermediate goods, consumer goods and capital goods.”
She added that imports rose significantly during the same period.
“Imports increased by 12.3 percent, rising from K21.5 billion in February to K24.2 billion in March 2026, driven by higher import bills across intermediate goods, consumer goods, capital goods and raw materials,” she said.
Traditional export earnings declined by 10.1 percent to K17.6 billion in March from K19.5 billion in February, accounting for 70.1 percent of total exports. Non-traditional exports also fell by 3.1 percent to K7.5 billion, representing a 29.9 percent share.
Earnings from refined copper, Zambia’s principal export commodity, dropped by 10.5 percent, from K19.4 billion in February to K17.3 billion in March.
Export volumes also declined by 11.2 percent, from 77,200 metric tonnes to 68,600 metric tonnes.
“The decline in copper earnings significantly contributed to the overall reduction in export performance for March 2026,” Mudenda said.