{"id":30817,"date":"2022-09-06T18:49:02","date_gmt":"2022-09-06T18:49:02","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/export-earnings-hit-k301-billion-in-first-half"},"modified":"2022-09-06T19:32:09","modified_gmt":"2022-09-06T19:32:09","slug":"export-earnings-hit-k301-billion-in-first-half","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/export-earnings-hit-k301-billion-in-first-half","title":{"rendered":"Export earnings hit K301 billion in first half"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>Malawi realised K301.8 billion from all exports in the six-month period ending June 2022, figures from the National Statistical Office (NSO) show. However, the earnings are six percent lower than the K321.3 billion recorded at the same time last year.<\/p>\n

The figures show that export earnings were constantly declining in the first quarter of 2022, from K63.6 billion in January, K49.6 billion in February and K33.6 billion in March.<\/p>\n

The trend changed in the second quarter, with a constant rise in export earnings after recording K37.9 billion in April, K39.6 billion in May and K77.5 billion in June.<\/p>\n

Director for Centre for Research and Consultancy Milward Tobias said the decline in export earnings in Kwacha value at a time the local currency is weaker now than in 2021 means the dollar value declined even more.<\/p>\n

\u201cWhat it means is that we have either exported less in the first half of this year or international prices are lower than last year. We need to scale up the export diversification drive,\u201d Tobias said.<\/p>\n

Centre for Social Concern (CfSC) Programmes Officer for Economic Governance Bernard Mphepo said a drop in exports entails a reduced level of output, which is not ideal for the economy.<\/p>\n

He then called on the government to consider simplifying regulations related to exports as a step towards broadening the scope. According to Mphepo, there is a need for improved information collection and dissemination about foreign markets and requirements for exporting.<\/p>\n

\u201cActions in this category should also consider product standards and other technical requirements imposed for exporting to developed country markets<\/p>\n

\u201cThe availability of short and long-term credit is crucial to exporters. This is decisive for small and medium enterprises (SMEs), for which the credit constraints are more binding than for large firms. Since SMEs make up the large majority of firms in developing countries, improvements in this domain are necessary to favour export growth,\u201d Mphepo said.<\/p>\n

This is coming at a time the country is grappling with foreign exchange shortages that have affected businesses operations in the country. However, in its June Monthly Economic Review, the Reserve Bank of Malawi said total foreign exchange reserves increased to $817.3 million (about 3.3 months of imports) as at end June 2022 from $789.4 million (3.2 months of imports) recorded in the preceding month and $813.3 million (3.3 months of imports) at the end of June 2021.<\/p>\n

For More News And Analysis About Malawi<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. Malawi realised K301.8 billion from all exports in the six-month period ending June 2022, figures from the National Statistical Office (NSO) show. However, the earnings are six percent lower than the K321.3 billion recorded at the same time last year. The figures show that export earnings were constantly declining in the first […]<\/p>\n","protected":false},"author":84,"featured_media":30816,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[233,371,234,2507,348],"class_list":["post-30817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-malawi","tag-malawi","tag-national-statistical-office","tag-tobacco"],"yoast_head":"\nExport earnings hit K301 billion in first half - Malawi<\/title>\n<meta name=\"description\" content=\"Malawi realised K301.8 billion from all exports in the six-month period ending June 2022, figures from the National Stat ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/export-earnings-hit-k301-billion-in-first-half\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Export earnings hit K301 billion in first half\" \/>\n<meta property=\"og:description\" content=\"Malawi realised K301.8 billion from all exports in the six-month period ending June 2022, figures from the National Stat ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/export-earnings-hit-k301-billion-in-first-half\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-06T18:49:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-06T19:32:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/09\/postQueueImg_13-6317a016bf5fc.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"586\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/export-earnings-hit-k301-billion-in-first-half#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/export-earnings-hit-k301-billion-in-first-half\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Export earnings hit K301 billion in first half\",\"datePublished\":\"2022-09-06T18:49:02+00:00\",\"dateModified\":\"2022-09-06T19:32:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/export-earnings-hit-k301-billion-in-first-half\"},\"wordCount\":404,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/export-earnings-hit-k301-billion-in-first-half#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/09\/postQueueImg_13-6317a016bf5fc.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"Malawi\",\"National Statistical Office\",\"tobacco\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/export-earnings-hit-k301-billion-in-first-half#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/export-earnings-hit-k301-billion-in-first-half\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/export-earnings-hit-k301-billion-in-first-half\",\"name\":\"Export earnings hit K301 billion in first half - 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