Namibia: the trade balance remains in deficit

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Namibia’s trade balance remained in deficit at N $ 2.9 billion in August, compared to N $ 3.5 billion recorded in July 2021 and N $ 1.4 billion obtained in August 2020.

This is according to the latest trade statistics released by the Namibia Statistics Agency this week. August 2021 saw Namibia’s total merchandise trade climb to N $ 17.1 billion, an increase of 27.1 percent and 3.7 percent from levels of N $ 13.4 billion. Namibian dollars and 16.5 billion Namibian dollars recorded in July 2021 and August 2020, respectively.

“The composition of Namibia’s trade by partner has shown that China has become Namibia’s largest export market, while South Africa has maintained its position as the country’s top import market,” said said statistician general Alex Shimuafeni.

The country’s exports mainly included minerals such as copper, precious stones (diamonds), non-monetary gold, uranium, and base metal ores and concentrates. As usual, fish remained the only non-mineral product among the top five export products.

On the other hand, the basket of imports mainly consisted of copper, petroleum oils, precious stones (diamonds), motor vehicles (for the transport of people) and; ores and concentrates of base metals.


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