Namibia’s trade with the rest of the world increased by 23.8% to N$19.3 billion in January this year compared to N$15.6 billion recorded in January 2021, latest government figures show.
The N$19.3 billion figure is, however, a 14% decline when compared to N$22.5 billion registered in December 2021.
Namibia Statistics Agency (NSA) Statistician General & CEO, Alex Shimuafeni, said the country’s trade activities picked up for the month of January 2022 when compared to the same month last year.
“For the month of January 2022, Namibia’s exports earnings stood at N$ 7.6 billion (a decrease of 24% monthly) while the imports bill amounted to N$11.7 billion (down by 6.0% on a monthly basis). This resulted in a trade deficit of N$4.1 billion, compared to N$2.5 billion recorded in December 2021.” he said.
In January, Namibia’s top five export partners were China, South Africa, Zambia, Spain and France.
“Namibia’s trade composition by partner showed that China emerged as Namibia’s largest export market whereas South Africa maintained her position as the largest source market for the country. The composition of the export basket for the month of January 2022 was mainly composed of minerals such as Copper, Uranium, Non-monetary gold as well as Precious stones (diamonds),” Shimuafeni said.
“Fish continued to be the only non-mineral commodity within the top five products exported. On the other hand, the import basket was mainly Copper, Petroleum oils, copper ores and concentrates; ores and concentrates of precious metals as well as Precious stones (diamonds).”
In the period under review, re-exports decreased by 31.5% month-on-month while it increased by 26.7% year-on-year.
“The re-exports basket mainly consisted of Copper blisters, which accounted for 53.8% mainly sourced from Zambia and DRC,” he said.
Analysis for the commodity of the month for January 2022 focused on import of Maize grains.
“Namibia imported maize grains valued at N$100 million mainly from South Africa (96%). Over the entire period, Namibia was a net importer of maize grain, with the import value of maize averaging about N$55.6 million a month,” the NSA CEO said.
