Zambia records K4.1bn trade surplus in July 2026

According to the Zambia Statistics Agency (ZAMSTATS) August report, Zambia posted a trade surplus of K4.1 billion in July 2026, down marginally from K4.2 billion in June, a K100 million (2.4%) decline. The modest reduction came as both exports and imports registered increases for the month.

A review of the report by Zambian Business Times (ZBT) shows that exports, primarily of domestically produced goods, edged up by 0.1%, rising from K29.6 billion in June to K29.7 billion in July. The growth in exports was driven by notable gains in raw materials (up 18.2%), capital goods (up 56.2%), and consumer goods (up 7.2%).

Meanwhile, imports grew by 0.4%, from K25.5 billion to K25.6 billion, mainly due to increased bills for intermediate goods, raw materials, and capital goods. Economic expert Maxwell Kauseni told ZBT that the K100 million dip is not a major concern, describing it as a normal monthto-month fluctuation.

“It’s not a major concern yet because a K100 million drop is just 2.4%, and monthly trade data often moves like this,” Kauseni explained. However, he cautioned that rising imports warrant attention, particularly as imports of intermediate goods rose by 9.5% while raw material exports jumped by 18%. “If that pattern continues, we’re still selling copper and unprocessed goods, then buying back machinery, chemicals, and manufacturing inputs,” Kauseni noted.

He urged the government to accelerate manufacturing incentives, reduce import costs for productive inputs, and work towards stabilizing the Kwacha and energy supply to strengthen the country’s trade position.