Zambia’s Trade Grows By 4.9 Percent

ZAMBIA’s foreign trade increased to more than US$4.1 billion from about US$3.9 billion recorded during the second quarter of 2012.
According to a report, by Regus Zambia’s foreign trade this year increased from US$3,880,000,000 in 2012 to US$4,071,000,000 representing about 4.9 percent growth.

Regus, the world’s largest provider of flexible workplaces, says in its report.
The report notes that strong trade links between Zambia and South Africa promotes a lasting foreign relationship, boosting exports revenues and benefiting the country’s service sector.
“South Africa maintained the first position as Zambia’s top major trading partner during the period under review as trade with that country grew by 15 percent to US$956.1 million from US$828.4 million, explained by continued rise in imports of manufactured goods from that country,” it says.
This is according to a statement availed to the Daily Mail yesterday.
Regus’ second global survey report on export business shows that firms that trade internationally report better revenues and profits than business that sticks to their domestic markets.
“50 percent of global firms that export say they have increased profits over the last 12 months compared with 38 percent of companies that only trade domestically.
“59 percent of companies that export said their revenues had grown compared with 37percent of firms focused domestically,” it says.
The reports says China is the most popular market with 48percent of businesses exporting there, ahead of Europe with 41percent , North America with 36 percent, India and South America 31 percent.
It says the most profitable areas for export are emerging markets and Europe.
Meanwhile Regus area director for East Africa and Zambia Peter Vieira notes that the report not only focuses on the advantages of export orientation for Zambian companies, but also highlights exporter concerns.
“These include worries about property and paper work, an issue raised by 44 percent of respondents and the challenge of building an image abroad, a concern for 42 percent of respondents while risk management is an issue for 63 percent.
“Regus has the network, resources and expertise to help current and potential exporters with challenges such as this. This obviously mitigates many of the risks faced by a new entrant to a chosen export market,” it says.
Locally, Regus has a presence in Lusaka. The company is listed on the London Stock Exchange.

Posted by Editor on February 26, 2013. Filed under BUSINESS. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry