Namibia’s trade deficit widened to N$4.4 billion in April 2026 as export earnings fell sharply while imports remained elevated, highlighting the country’s continued reliance on imported fuel, vehicles and industrial equipment.
Latest figures from the Namibia Statistics Agency show the trade deficit increased from N$2.3 billion in March 2026 and N$2.1 billion in April 2025.
Exports declined by 26.2% month-on-month to N$9.8 billion, while imports fell by a more modest 9.0% to N$14.2 billion.
According to the NSA, the widening trade gap was driven by the steeper decline in exports relative to imports, with Namibia continuing to spend heavily on key imported commodities.
“Petroleum oils remained Namibia’s largest import product during April, accounting for 18.1% of total imports. The country sourced most of its fuel imports from Nigeria, Oman and Sweden,” the agency said.
Nickel ores and concentrates ranked as the second-largest import category, followed by commercial vehicles, civil engineering and contractors’ equipment, and passenger vehicles.
Together, the top five imported commodities accounted for 37.1% of total imports during the month.
The manufacturing sector remained the largest contributor to Namibia’s import bill, accounting for N$9.7 billion worth of imports despite a 14.3% decline compared to March.
“Imports linked to the mining and quarrying sector increased by 7.8% to N$4.1 billion, driven mainly by mining support service activities valued at N$2.5 billion and metal ore-related imports worth N$1.45 billion,” the NSA said.
Trade data by product showed that petroleum oils generated the largest trade deficit, amounting to N$1.8 billion during the month. Nickel ores and concentrates contributed a deficit of N$615 million, while commercial vehicles recorded a deficit of N$606 million.
South Africa remained Namibia’s largest trading partner and the country’s biggest source of trade imbalance, with a bilateral trade deficit of N$2.4 billion. Additional trade deficits were recorded with Nigeria at N$983 million and Oman at N$517 million.
Despite the overall deficit, Namibia recorded strong trade surpluses in several key export products. Non-monetary gold generated a trade surplus of N$1.7 billion, while fish and uranium each recorded surpluses of N$1.5 billion.
“Despite the overall deficit, Namibia recorded trade surpluses on several key export products. Non-monetary gold generated a trade surplus of N$1.7 billion, while fish and uranium each recorded trade surpluses of N$1.5 billion,” the NSA said.
The agency noted that Namibia exported goods to 105 markets and imported goods from 157 markets during April, reflecting continued efforts to diversify its international trade relationships.
