The value of Namibia’s exports in August 2021 increased by 41.5% to N$7.1 billion from the July 2021 level of N$5 billion, while imports stood at N$10 billion, an increase of 18.5% on a monthly basis and an annual growth of 12.1%, latest figures from the Namibia Statistics Agency (NSA) show.
“The month of August 2021, saw Namibia’s total merchandise trade surging to N$17.1 billion, an increase of 27.1 percent and 3.7 percent when compared to the level of N$13.4 billion and N$16.5 billion recorded in July 2021 and August 2020, respectively,†NSA, Statistician General & CEO, Alex Shimuafeni said.
The country, however, recorded a trade deficit amounting to N$2.9 billion from N$3.5 billion recorded in July 2021 and N$1.4 billion in August 2020.
China according to the NSA, emerged as Namibia’s largest market for exports whereas South Africa maintained its position as the largest import market for Namibia.
“The composition of the export basket mainly comprised of minerals such as copper, precious stones (diamonds), non-monetary gold, uranium as well ores and concentrates of base metals. As usual, fish remained the only non-mineral product among the top five exports. On the other hand, the import basket comprised mainly of copper, petroleum oils, precious stones (diamonds), motor vehicles (for transportation of persons) and; ores and concentrates of base metals,†he said.
Namibia imported coffins to a value of N$34 million with the largest import figure of N$8 million recorded in August 2021, amid rising COVID-19 deaths during the period.
“With so many deaths reported by the Ministry of Health and Social Services as a result of the Corona virus during the last months, funeral undertakers experienced a lot of pressure in terms of high demand of services they offer including the supply of coffins. Looking at the period (Aug-20 to Aug-21), Namibia imported coffins to a value of N$34 million with the largest import figure of N$8 million (23.8%) reflected in August 2021 while the lowest figure of less than N$1 million was recorded in September 2020,†Shimuafeni said.
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