December 2009 Zambian Inflation closes at 9.9 percent

The December 2009 Zambian inflation rate closed the year at 9.9 percent from 11.5 percent recorded in November 2009.

The December 2009 Zambia inflation figures were released by Central Statistics Office (CSO) director Efreda Chulu on 31st December 2009.

November 2009 Zambian Trade surplus

For six consecutive months from June 2009 to November 2009, the Zambian government recorded trade surpluses. In the month of November 2009 a trade surplus valued at K 332.9 billion was recorded.

Preliminary estimates of the gross domestic product (GDP)

According to Chulu, preliminary data indicated that the country’s gross domestic product (DGP) was expected to grow by 6.3 percent and that poverty reduction recorded a marginal decline. The director further said the latest figure for economic growth for the year 2009 will be known latest by February 2010. She explained that the country’s economic growth was on the upswing and on track to beat the targeted 6 percent growth rate for 2009.

Zambia’s major exports in November 2009

The major export products in November 2009 were from intermediate goods category accounting for 72.7 percent comprising mainly copper cathodes and sections of refined copper, plates, wires and sheets of refined copper and articles of cobalt. Raw materials accounted for 16.6 percent comprising mainly copper ores and concentrates and cobalt ore and concentrates. Other products exported were consumer goods and capital goods collectively accounting for 10.7 percent of total exports.

Living conditions and monitoring survey

According to the living conditions and monitoring survey of National Poverty Trends between 1996 and 2006, Western Province had the highest number of extreme poor people at 63 percent in 2006. Lusaka had the lowest number of extreme hungry people at 8.2 percent in 2006 from the previous 11.1 percent in 1996.

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