Southern Africa
How export and import prices moved relative to each other in Southern Africa
Zambia’s merchandise terms of trade index reached 126.4 in 2024 on a 2015 base of 100. Botswana and Lesotho were below 100. The 20-year record shows how the ratio of export to import unit values moved against each country’s own base.
Sources checked
2024
Shared scale · 0 index points to 155 index points
2022
Shared scale · 0 index points to 155 index points
The benchmark of 100 is each country’s 2015 ratio. Switch between 2022 and 2024.
Four countries were above their 2015 ratios
Zambia recorded 126.4 in 2024, Mozambique 117.5, South Africa 117.1 and Namibia 107.4. Lesotho was at 81.9 and Botswana 76.7. A higher index means a higher ratio of export unit values to import unit values relative to that country’s own base year. It is not a ranking of nominal export prices. Source 1 Source 2
Mozambique fell from a 2022 high
Mozambique’s index was 155.0 in 2022, 121.7 in 2023 and 117.5 in 2024. It remained above its 2015 ratio despite losing 37.5 index points in two years. Zambia moved in the other direction, from 116.9 in 2022 to 126.4 in 2024. Source 1
Botswana and Lesotho remained below their base-year ratios
Botswana fell from 82.0 in 2023 to 76.7 in 2024. Lesotho fell from 84.6 to 81.9. The history shows earlier fluctuations as well. Botswana was at 70.9 in 2010 and Lesotho 74.0, both relative to the same 2015 base. Source 1
The index compares unit values without measuring trade volumes
The series divides the export unit value index by the import unit value index and scales the result to 2015. Changes can reflect the prices and composition of traded goods. It does not show the trade balance, export volumes or income earned from merchandise sales. Those depend on quantities and other measures. Source 2