Exports contraction worries economists - The Times Group Malawi

Exports contraction worries economists - The Times Group Malawi: Economics Association of Malawi (Ecama) has said the country needs to seriously consider diversifying its export base in the wake of growing trade deficit.

The call comes as Malawi still faces a significant trade deficit, importing about twice the value of goods it exports, raising questions on the effectiveness of various export strategies it has in place.

Trade balance to widen in 2019 – The Nation Online

Trade balance to widen in 2019 – The Nation Online: Trade balance to widen in 2019

Malawi’s trade balance—the difference between the value of a country’s imports and its exports— is projected to worsen by 16.4 percent� this year, figures from the latest Annual Economic Report show.

This is in contrast to an improved trade balance which the country recorded last year to $1.42 billion (about K1 trillion) from $1.31 billion (about K 970 billion

Trade balance to widen in 2019 – The Nation Online

Trade balance to widen in 2019 – The Nation Online: Trade balance to widen in 2019

Malawi’s trade balance—the difference between the value of a country’s imports and its exports— is projected to worsen by 16.4 percent� this year, figures from the latest Annual Economic Report show.

This is in contrast to an improved trade balance which the country recorded last year to $1.42 billion (about K1 trillion) from $1.31 billion (about K 970 billion

Exports up 28% in second quarter - The Times Group Malawi

Exports up 28% in second quarter - The Times Group Malawi: Malawi’s exports rose by 28 percent in the second quarter of 2019 to hit $316.6 million fuelled by a jump in sugar exports, figures from the Reserve Bank of Malawi (RBM) indicate.

Low tea prices worry Malawi growers – The Nation Online

Low tea prices worry Malawi growers – The Nation Online: The Tea Association of Malawi (Taml) has expressed concern over continued low tea prices that buyers are offering at its Limbe market, fearing it may affect growers revenue and its contribution to the economy.

Taml chief executive officer Beyani Munthali on Tuesday said on average—as of this month (August)—the prices per kilogramme (kg) of tea is $1.25 (about K925) compared to last year’s $1.95 (about K1 443)

Malawi’s exports up by 9% in 2018 | The Times Group

Malawi’s exports up by 9% in 2018 | The Times Group: Malawi’s exports up by 9% in 2018
Posted By: Tom Sangalaon: May 24, 2019In: BusinessNo Comments
By Chimwemwe Mangazi:

Malawi’s exports grew by nine percent in 2018 after recording an export value of $975. 084 million (about K731.313 billion) when compared to the $889.104 million (about K668. 828 billion) recorded in 2017, latest figures from Trade Map have shown.

Trends from the past five years, however, show that 2018 is the only year that the country has recovered from a downward spiral of the exports where the figures kept on declining year-on-year.

The 2018 figure is 31 percent shy of the $1. 420 billion (about K1.064 trillion) recorded in 2013.

Government ponders lifting maize export ban - The Nation Online

Government ponders lifting maize export ban - The Nation Online: Government ponders lifting maize export ban
Grace Phiri April 30, 2019 0 Comments
Maize traders say lifting maize export ban now that farm-gate price of K180 per kilogramme (kg) has been released would be counterproductive.

The views by Grain Traders and Processors Association follow sentiments by Minister of Agriculture, Irrigation and Water Development Joseph Mwanamvekha on Saturday that lifting maize export ban, imposed two years ago, is an option government is looking at in the wake of a projected 355 000 metric tonnes (MT) maize surplus this year.

MW contribution to Agoa static

thttps://mwnation.com/mw-contribution-to-agoa-static/

Malawi’s contribution to the African Growth and Opportunity Act (Agoa) in the past two years has remained static at 0.15 percent global share in the trade act, which has 164 members.

According to the 2019 Trade Policy Agenda and 2018 Annual Report of the President of the United States on the Trade Agreements Programme Office, this is also the trade act’s minimum contribution.

Report shows trade gap still widening - The Nation Online

Report shows trade gap still widening - The Nation Online: The Malawi Growth and Development Strategy (MGDS) III aspirations were this week put on the spotlight following revelations from the International Trade Index on Trade Map that the country’s imports are declining. The index observes that Malawi’s imports from the rest of Africa declined over the past five years, at a time exports are also declining. It shows that Malawi’s imports declined from $1.2 billion (about K876 billion) in 2013 to $758 million (K555 billion) in 2017.

Malawi moves to boost Agoa exports - The Nation Online

Malawi moves to boost Agoa exports - The Nation Online: Malawi moves to boost Agoa exports
Orama Chiphwanya August 6, 2018 0 Comments
�

Faced with falling exports through the United States (US) trade window, African Growth and Opportunity Act (Agoa), the Ministry of Industry, Trade and Tourism says it has instituted policies to reverse the trend.

Latest trade figures from Agoa— a US government trade window that targets 40 least developed countries, including Malawi—shows that in 2017, export earnings dropped by about 17 percent to� $62.1 million (about K45 billion) from $74.4 million (about K54 billion) the previous year.

Malawi, Tanzania trade gap still wide - The Nation Online

Malawi, Tanzania trade gap still wide - The Nation Online: Malawi� Investment and Trade Centre (Mitc) says� bilateral trade between Malawi and Tanzania has been increasing over the years, but said more needs to be done to take advantage of the available opportunities.

In an interview on the sidelines of a news conference on Friday to create awareness on the forthcoming Malawi-Tanzania Joint Investment Forum, Mitc director of investment promotion and facilitation Joshua Nthakomwa said the investment forums are crucial for unlocking potential trade deals.

Trade disparity up, hits K758 billion - The Nation Online

Trade disparity up, hits K758 billion - The Nation Online: "Trade disparity up, hits K758 billion
Grace Phiri June 2, 2018 0 Comments
At K758 billion, Malawi’s trade balance in 2017 continues to worsen despite various policy interventions to narrow the trade gap, figures from Ministry of Finance, Economic Planning and Development have shown.

In 2016, Malawi’s trade balance stood at K706.8 billion."



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Firm sees rising current account deficit | The Times Group

Firm sees rising current account deficit | The Times Group: "Firm sees rising current account deficit
Posted By: William Kumwembeon: May 16, 2018In: BusinessNo Comments
Investment management and advisory firm, Nico Asset Managers, says it expects Malawi’s current account deficit to rise to 14.5 percent of the Gross Domestic Product (GDP) in 2018, from 12.5 percent in 2017.

A current account deficit is a measurement of a country’s trade where the value of goods and services it imports exceeds the value of goods and services it exports.

The anticipated rise in current account deficit comes as the performance of the country’s exports is projected to be hindered by unfavourable weather conditions, infrastructure challenges, lack of finance for farmers and low agricultural technology."



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Govt to continue importing cement products

Govt to continue importing cement products: "Government says it will continue importing cement products to supplement local production.

The Ministry of Industry, Trade and Tourism says such is the case because the domestic production has not reached its peak due to inconsistent power supply.

Since the country started experiencing power problems last year, local cement manufacturers scaled down production, a situation which forced contractors to start importing cement products from other countries such as Zambia.

According to Deputy Director of Small and Medium Enterprises in the Ministry of Industry, Trade and Tourism Wiskes Mkombezi, the window created some challenges on the part of the buyers, as most traders took advantage of the situation by over charging the prices on the market.
"



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‘Climate not conducive for exporters to benefit from Agoa’ - The Nation Online

‘Climate not conducive for exporters to benefit from Agoa’ - The Nation Online:



'Climate not conducive for exporters to

benefit from Agoa

Nation Online O January 5, 2018 o Comments

Exporters' quest to improve the quality of their products to meet global appeal, as part of efforts to boost the

export trade through initiatives such as the African Growth and Opportunity Act (Agoa), is being derailed by poor

business environment, a trade expert has said.

Malawi, unlike other sub-Saharan African countries that Agoa targets, has not explored the opportunity to full

potential during the past 15-year period of the United States government initiative—which among others is



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Malawi registers modest export growth - The Nation Online

Malawi registers modest export growth - The Nation Online:




Grace Phiri

October 28, 2017


Malawi merchandise export trade of agricultural products has

registered a modest growth of 6.5 percent between 2005 to

2016, figures from the World Trade Organisation (WTO) have

shown.





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Malawi’s sugar exports to United States increase — Ambassador Palmer | Malawi Nyasa Times - Malawi breaking news in Malawi

Malawi’s sugar exports to United States increase — Ambassador Palmer | Malawi Nyasa Times - Malawi breaking news in Malawi: "“Malawi exported $10.7 million worth of sugar to the United States in 2016, an increase of 25% from 2015.  This quota increase for fiscal year 2017 could mean an additional $4 million worth of Malawian sugar exports to the United States.  The United States remains committed to increasing trade between the United States and Malawi,” said Ambassador Palmer."



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Mega Fraud Trial Of Illovo Sugar Vs PHL Resumes With Re-examination Of Key Witness – Malawi Voice

Mega Fraud Trial Of Illovo Sugar Vs PHL Resumes With Re-examination Of Key Witness – Malawi Voice: "Blantyre, June 27: A mega fraud trial in which Illovo Sugar (MW) is accused by its minority shareholder Prudential Holdings Ltd (PHL) of falsifying financial statements and holding information, resumed sitting at the Commercial Court in Blantyre on June 27, with PHL’s chief witness being re-examined by its own lawyer"



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Malawi government restricts imports of cement, other products | The Times Group

Malawi government restricts imports of cement, other products | The Times Group: The Malawi government has introduced import restrictions for cement and other four products which will now require import licences in an effort to curb smuggling of the products in the country.

Drought shrunk 2015 exports by US$300m | The Times Group

Drought shrunk 2015 exports by US$300m | The Times Group: Effects of drought experienced in the country in the 2014/15 growing season saw the export base earnings shrinking by US$300 million, the Reserve Bank of Malawi (RBM) has said