Minerals boost Namibia’s export earning

Minerals boost Namibia’s export earning

Minerals boost Namibia’s export earning

Namibia rough diamond export earnings increased to by 1.7 billion in the second quarter compared to the first quarter to 3.5 billion, according to the September Quarterly Bulletin of the Bank of Namibia. The substantial increase was on account of currency depreciation against the US dollar and higher realised prices and additional marine diamond mining vessels that were brought on stream. The diamond price was boosted by stronger demand in consumer markets such as the United States and China. ‘’The relatively stronger demand for diamond jewellery in the US observed during the period under review contributed to the higher realised…
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