The National Statistical Office (NSO) has launched a web based Trade Map that will give information to exporters, producers and policy makers on Malawi’s trade position with the rest of the world.
The launch was done alongside another online trade information portal by Malawi Investment and Trade Centre (MITC).
The two facilities are aimed at providing up-to-date information with intent to facilitate trade and related policy direction to ensure an export based economic growth of the country.
NSO commissioner Mercy Kanyuka said through the Trade Map, NSO will provide latest trade related statistics following capacity building under a European Union-supported project under which the Trade Map has been developed.
“The Trade Map will give exporters vital information like products available and statistics on the country’s trade with the rest of the world. Such information will help those concerned with trade to have up to date information for various purposes,” said Kanyuka.
The Trade Map will be based on trade intelligence and is aimed at improving statistical information on trade.
On his part, MITC chief executive officer, Clement Kumbemba, said exporters and producers in the country will now be making informed decisions on trade and production as the MITC Trade Portal will provide full guidance on local and international market trends.
The Trade Portal, that has been linked with other institutions such as the Reserve Bank of Malawi – among other things, will provide updates on products on demand as well as quantities required on the international market.
Kumbemba said the absence of such information has led to producers investing without knowledge on market demands.
“Knowledge on market demand will spur growth of exports because producers will be in the know. And all this information will help guide production and marketing,” said Kumbemba.
Speaking at the same function, European Union head of delegation, Marchel Gerrmann, said Malawi’s export base is too narrow and dependent on a few products, saying lack of information has contributed to constrained development of the export market.
He said the trade map should be an important tool for the stimulation of trade.