MALAWI CONSIDERS NON-TRADITIONAL EXPORTS– Malawi News Online

Ministry of Industry Trade and Tourism has announced that it will consider exports that usually neglected, in order to diversify the export basket to narrow the wide trade deficit.

According to the ministry assistance director of trade Diamond Chikhasu, government is looking at value-added products such legumes, minerals, precious stones, arts and crafts and textiles.

This will be a massive growth is diversity, moving away from the usual exports such as tobacco, sugar and tea.

On the other hand, figures from the International Trade Centre (ITC) show that legumes export have been declining since 2015, as by then, $58.5 million was profited in legume exports which has gradually lowered over the years, to $15.8 million in 2018. Adding to that, Reserve Bank of Malawi (RBM) Second Quarter Financial and Economic Review shows that sugar exports rose to $183.8 million (about K136 billion) in the period under review, from $13.7 million (about K10 billion) the previous quarter and $10.3 million (about K8 billion) the other quarter.

The diversity will open doors for various farmers who did not find foreign markets.