PF ON COURSE TO SHRINK DEPENDENCE ON IMPORTS FROM SOUTH AFRICA
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Numbers don’t lie. Look at this.
Fact: Over the last 20 years, Zambia has greatly depended on South African imports. However, in the last 10 years, this narrative is changing.
In 2020, the South Africa exports to Zambia hit as low as US$1.72 billion, from almost US$2.75 billion in 2014, according to the United Nations COMTRADE database on international trade.
This is the lowest value of imports from South Africa in the last 10 years, as is shown in this historical data chart and statistics below, last updated this July of 2021.
All this has been achieved due to import substitution strategy whereby there is increased local manufacture of domestic consumables in Zambia through local companies like Trade Kings and others.
Empirical data is showing that the country is on course.
Economic growth should be the thrust in the next phase into 2026. In particular, there is need to eradicate the effects that wiped GDP gains from US 28 billion in 2014 to slightly below US19 billion in 2017.
– By Peter Sinkamba