Namibia recorded its largest trade deficit since the start of the year in August 2025, with the gap between exports and imports widening to N$5.3 billion, according to the latest trade data released by the Namibia Statistics Agency (NSA).
The deterioration marks a sharp reversal from July 2025, when the country posted a modest deficit of just N$13 million.
Year-on-year comparisons also reflect a worsening position, with August 2024 recording a deficit of N$3.4 billion.
“In August 2025, the country’s trade balance was a record-breaking deficit of N$5.3 billion, a worsened trade balance when compared to a deficit of N$13 million recorded in the previous month. A year-on-year comparison shows a deficit of N$3.4 billion recorded in the same month of 2024,” said NSA Statistician General and CEO, Alex Shimuafeni.
Export earnings fell to N$7.7 billion in August, a 39% decline from the previous month and 12.5% lower than in August 2024.
The slump was mainly driven by the mining sector, with uranium exports dropping by N$2.7 billion and precious stones (diamonds) falling by N$1.4 billion. Copper and articles of copper declined by N$581 million, while fish exports fell by N$137 million.
Non-monetary gold led the export list, accounting for 21.1% of total exports, primarily destined for South Africa.
Fish was the second most exported commodity at 17.7%, with key markets in Spain, Zambia and South Africa. Uranium occupied third place with 7.1% of exports, mainly shipped to China, while ores and concentrates of base metals (6.2%) and copper and articles of copper (5.9%) completed the top five.
“The export composition remains heavily concentrated in the mining sector, with non-monetary gold, uranium and various mineral ores dominating the basket,” Shimuafeni said.
Meanwhile, imports rose to N$12.9 billion, up 2.9% from July and 6% higher than the previous year.
The increase was driven by petroleum oils, which rose by N$259 million, sulphur and unroasted iron pyrites (up N$204 million), nickel ores and concentrates (up N$203 million), rotating electric plant and parts (up N$148 million), and aircraft and associated equipment (up N$147 million).
Petroleum oils dominated the import basket at 15.1% of total imports, mainly sourced from India, Oman and Bahrain. Motor vehicles for commercial purposes accounted for 4% of imports, followed by motor vehicles for passenger transportation (3.4%), nickel ores and concentrates (3.3%), and civil engineering and contractors’ equipment (3.3%). Together, the top five import commodities represented 29.2% of total imports.
Re-exports declined both month-on-month and year-on-year, by 24.4% and 8.8% respectively. The re-export basket was primarily made up of copper and articles of copper, petroleum oils, precious stones (diamonds), ores and concentrates of base metals, and nickel ores and concentrates.
South Africa remained Namibia’s largest trading partner, accounting for 32.7% of exports and 41% of imports. Bilateral trade resulted in a deficit of N$2.8 billion with South Africa alone. Namibia also recorded trade deficits with China (N$907 million) and Oman (N$600 million).
On the positive side, Namibia achieved surpluses with Spain (N$657 million), Zambia (N$598 million) and Botswana (N$458 million).
Other key trading partners included Zambia (14.2% of exports), Spain, China and Botswana. On the import side, China accounted for 12% of imports, followed by India, Oman and the United Arab Emirates.
During August, Namibia traded with 101 export destinations, down from 103 in July, while sourcing imports from 164 countries, four more than the previous month
