Calendar

Zambia Mines GDP contribution to hit $1bn in 2015

MopaniZAMBIA’s mining contribution to the Gross Domestic Product (GDP) is projected to grow to US$1.35 billion by the year 2015, due to increased mining activities.

According to the Zambia Extractive Industry Transparency Initiative (EITI), reconciliation report, contribution to GDP was expected to grow from $590 million in 2010 to $1.35 billion in 2015.

Last week, the Government launched the EITI third report based on the 2010 financial year, which showed that mining revenue was up to KR3.787 billion as compared to KR2.572 billion in 2009.

The report said the mining sector was a crucial part of the Zambian economy, with direct contribution being approximately 11 per cent in 2010.

The report said in 2010, the mining and quarrying sector accounted for 9.9 per cent of Zambia’s real gross domestic product (GDP) compared with a revised 9.3 per cent in 2009.

“The country’s real GDP increased by 7.6 per cent in 2010, mining and quarry accounted for 18 per cent of the increase,” the report said.

It was highlighted in the report that copper exports accounted for 78 per cent of Zambia’s exports in 2010 which amounted to about US$5.8 billion.

The value of cobalt exports was estimated to be US$304 million which accounted for four per cent of Zambia’s exports, while imports of oil stood at about US$618 million in the period under review.

On the global front, Zambia continues to be a significant producer and also a major resource of both copper and cobalt.

The report said in 2010, Zambia was ranked as the 7th largest producer of copper in the world.

Further, the Business Monitor International had projected that Zambia’s copper production would reach 1.3 million tonnes in 2015, which would likely place it among the top five copper producers in the world.

About Website Editor

'Please contact us as we are always looking for new stories, bright columns with innovative and sensational inspirational ideas. You can also contact us for press releases. Showcase your talents with us!' Contact us on info@ukzambians.co.uk
Category : Business and tagged , , , , , , , , .
« »

Comment:

8 responses to “Zambia Mines GDP contribution to hit $1bn in 2015”

  1. You can certainly see your expertise within the work you write. The world hopes for more passionate writers such as you who are not afraid to say how they believe. All the time go after your heart.

  2. Typically Are generally Diet ‘s an extremely affordable and flexible food regimen product suitable for induced the boycott . endeavouring to rapidly and as a result subsequently conserve a vibrant lifespan. lose weight

  3. Thankyou for this post, I’m a big big fan of this web website would like to proceed updated.

  4. Aw, this was a quite good post. In thought I want to put in writing like this moreover ?taking time and actual effort to make a extremely very good post?even so what can I say?I procrastinate alot and definitely not appear to get one thing done.

  5. whoah this blog is wonderful i like reading your posts. Keep up the good work! You recognize, lots of individuals are searching round for this info, you can help them greatly.

  6. Useful info. Lucky me I discovered your web site accidentally, and I’m surprised why this accident did not came about in advance! I bookmarked it.

  7. chatea says:

    This really is a great common sense article. Quite valuable to 1 who is just locating the resouces about this part. It will certainly support educate me.

  8. porn movie says:

    lucrare de licenta

Leave a Reply