Trade expected to remain in deficit for 2023

Tujoromajo Kasuto The Namibia Statistics Agency (NSA) states that during the month of November 2022, the country’s trade balance remained in a deficit though it improved by a notable 25.9 percent (month-on-month) and 3.2 percent (year-on-year) from N$2.0 billion recorded in October 2022 and N$1.6 billion observed in November 2021, respectively. Simonis Storm Economist Theo Klien says Namibia’s trade balance will remain in deficit territory for most of 2023. He attributes these risks to a lower import bill including China’s economic reopening expected in the second half of 2023 which could increase demand for commodities and increase global oil prices…