Zambia’s annual inflation rate eases to 6.2 percent in August as food, fuel prices drop

Provincially, annual inflation declined in seven provinces namely Central, Copperbelt, Eastern, Lusaka, North Western, Southern and Western. However, it increased in Luapula and Northern Provinces.

On trade, Zambia recorded a K4.1 billion trade surplus in July 2026, compared with K4.2 billion in June 2026, representing a marginal reduction.

“Total trade increased by 0.2 percent, from K55.1 billion in June to K55.2 billion in July 2026, reflecting a marginal increase in the value of Zambia’s trade during the month,” Daka said.

The Statistician General said refined copper export earnings declined by 4.5 percent, while export volumes decreased by 7.9 percent in July 2026.

However, cumulative refined copper export volumes increased by 8.8 percent between January and July 2026 compared to the same period in 2025.

Daka added that agricultural Non-Traditional Export earnings increased by 20.9 percent, while non-agricultural Non-Traditional Export earnings rose by 3.0 percent in July 2026.

On trade partners, Canada remained Zambia’s leading export destination, accounting for 34.8 percent of total export earnings, followed by the Democratic Republic of Congo at 15.5 percent and China at 12.4 percent.

“South Africa remained the largest source of Zambia’s imports, accounting for 25.6 percent of the import bill, followed by China at 24.1 percent,” Daka said.

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