Trade between Namibia and Germany increased to N$3.6 billion last year compared to N$3.3 billion in 2019, with Namibia recording a trade surplus N$800 million, German trade data shows.
According trade figures, Namibia is estimated to have exported goods worth N$2.8 billion last year, an increase of 31,8% when compared to 2019 figures, with non-ferrous metals making up 80,4% of the exported goods, food products 13,3%, raw materials (except fuels) 3,5%, automotive products 1,2%, machines 0,4%, leather and products 0,2% and natural oils 0,1%.
On the other hand, Namibia imported goods worth N$761 million from Germany during the period under review, a 24% decline when compared to the 2019 figure of more than one billion dollars.
Machines accounted for 25,9% of the Namibian imports, food products 22,1%, electro-technical products 10,9%, electronics 5,6%, chemical products 5,5%, automotive products 5%, measurement and control technology 4,6%, with other unclassified goods making up 20,4%.
The Germany Embassy, which released the figures said there were a number of sectors where growth potential is seen – especially in the field of renewable energy.
“Moreover, the bush biomass sector, the water, wastewater and waste management sectors bear additional potential.”
“What is also of interest is the natural ingredients/cosmetics sector– especially if they are organically produced. Growth in that sector has to be in line with Access and Benefit Sharing ABS regulations, ensuring compliance with Namibia’s regulatory framework to promote conservation, sustainable use and equitable sharing of benefits. Also, the green hydrogen sector could be of further potential in Namibia – and joint bilateral collaboration has been agreed upon,” added the Embassy.
With close to N$8 billion having been provided through funding and grants, the Embassy said Namibia remains a key partner country for the German bi-lateral development cooperation.
“No other country in Africa receives higher per capita funding from Germany. German development cooperation with Namibia focuses on natural resource management, transport and logistics, and sustainable rural and economic development. The increased use of green energy is supported within the framework of infrastructure development and the cross-cutting issue of climate protection. In addition, Namibia and Germany have concluded a hydrogen partnership in which Germany will provide up to 40 million EUR in funding to support the emergence of a green hydrogen industry in Namibia.”
