Chamwe Kaira
Namibia recorded a trade surplus of N$856 million in June, up from a revised surplus of N$341 million in May and compared to a deficit of N$762 million in June last year, statistician general and Namibia Statistics Agency CEO Alex Shimuafeni said.
China was Namibia’s top export destination, while South Africa remained the main source of imports.
Exports were dominated by mining commodities including uranium, non-monetary gold, diamonds, and copper. Fish was the only non-mineral product among the top five exports.
Shimuafeni said re-exports fell by 5% month-on-month and 7.9% year-on-year. The re-export basket mainly comprised copper, nickel ores and concentrates, petroleum oils, ores and concentrates of base metals, and inorganic chemical elements.
Imports were driven by petroleum oils, commercial motor vehicles, ores and concentrates of base metals, passenger vehicles, and nickel ores and concentrates.
On food trade, Namibia recorded a surplus of N$619 million, making it a net exporter of food items. The country remained a net importer of beverages, posting a deficit of N$186 million.
“The current report considered petroleum oils as the commodity of the month. The analysis revealed that the country imported petroleum oils worth an amount of N$1.6 billion, mainly from Oman, Bahrain and Saudi Arabia. On the other hand, the country’s export of this product stood at N$335 million (which was mostly a re-export to Botswana and Zambia) during the period under study,” Shimuafeni said.
Under the African Continental Free Trade Area agreement, Namibia exported goods worth N\$5.3 billion to Africa and imported goods of the same value, resulting in a deficit of N$35 million. Intra-Africa exports accounted for 43.2% of Namibia’s total exports, while imports from Africa made up 46.8% of the total.
South Africa, Zambia, Botswana, the Democratic Republic of Congo, and Mozambique were the main destinations for Namibian exports. Imports were mainly sourced from the same countries, with Eswatini replacing Mozambique.
