The United States has recorded a cumulative goods trade deficit of US$181.2 million (N$3.3 billion) with Namibia over the past five years, from 2020 to 2024, according to the latest trade data.
Total U.S. exports to Namibia during this period amounted to US$716.1 million, while imports from Namibia stood at US$897.5 million.
The highest deficit was recorded in 2024, with U.S. imports from Namibia reaching US$275.2 million against exports of US$160.5 million, resulting in a trade gap of US$114.7 million.
In contrast, 2021 registered the smallest deficit of US$57.2 million, with imports at US$150.3 million and exports totaling US$93.0 million.
Trade imbalances in 2024 were pronounced, with a significant deficit of US$94.3 million recorded in July when imports surged to US$105.7 million, while exports lagged at just US$11.4 million.
However, a turnaround was observed in November and December, which recorded trade surpluses of US$9.4 million and US$22.4 million, respectively.
In 2023, the U.S. recorded a rare annual trade surplus of US$43.9 million, as exports totaled US$176.6 million and imports stood at US$132.7 million.
November marked the highest monthly surplus of the year at US$25.7 million, with exports of US$35.9 million and imports at US$10.2 million. However, deficits were recorded in February (US$5.1 million) and March (US$8.9 million), reflecting fluctuations in trade balances.
The trade deficit reemerged in 2022, as the U.S. imported goods worth US$249.1 million while exporting US$225.9 million, resulting in a shortfall of US$23.1 million.
A significant monthly deficit of US$69.7 million was recorded in May when imports peaked at US$79.9 million against exports of US$10.2 million. Conversely, July posted the highest surplus of the year at US$68.0 million, driven by exports of US$86.3 million.
In 2021, the U.S. reported a trade deficit of US$57.2 million, with exports amounting to US$93.0 million and imports reaching US$150.3 million. September recorded the largest monthly deficit at US$18.4 million, while July and August saw moderate surpluses of US$4.2 million and US$1.6 million, respectively.
In 2020, the U.S. trade deficit with Namibia stood at US$30.1 million, with exports of US$60.1 million and imports of US$90.2 million. The largest monthly deficits occurred in November (US$13.5 million) and December (US$11.1 million), while July saw the highest trade surplus at US$3.8 million.
The U.S. primarily exports industrial fatty acids, oils, alcohols, magnesium carbonate, and rubber tires to Namibia. In return, Namibia exports diamonds, building stone, and fish fillets to the U.S.
