Zambian exports, forex demand up

Zambian earned over 750 million U.S. dollars and 146 million dollars from copper export and non- traditional export respectively in the second quarter this year, the country's central bank governor has said.

Zambia Daily Mail Friday quoted governor of the Bank of Zambia Caleb Fundanga as saying here Thursday that the copper export receipts rose by 38 percent over the same period last year due to the price increase in international market.

Non-traditional export increased by 6.5 percent in the second quarter this year, he added.

The increases have been attributed mainly to increased export of copper wire, burley tobacco, gemstones and gas oil.

The bank purchased 68.5 million dollars in the second quarter because of more demand for foreign exchange compared to 12 million in the first quarter this year, Fundanga said.

Preliminary data show that Zambia's deficit on the overall balance of payments narrowed to 14.8 million in the second quarter from 81.7 million dollars during the same period of last year.

Source: Xinhua