Namibia’s exports fell 17.2% month-on-month to N$10.7 billion in July 2026, widening the country’s trade deficit to N$5.9 billion as imports remained significantly higher at N$16.5 billion.
The Namibia Statistics Agency’s (NSA) latest International Merchandise Trade Statistics report shows the July deficit widened from N$5.4 billion in June and marked a sharp reversal from the N$17 million trade surplus recorded in July 2025.
Imports declined by 9.7% from June but were 31.5% higher than in July 2025, adding pressure to the country’s trade balance.
“In July 2026, Namibia’s trade developments revealed that exports amounted to N$10.7 billion, while imports were higher at N$16.5 billion, resulting in a trade deficit of N$5.9 billion,” the NSA said.
“This development reflects a worsened trade balance when compared to the N$5.4 billion deficit recorded in June 2026. Further analysis shows a N$17 million surplus recorded in the same month of the previous year.”
Despite the monthly decline, cumulative exports for the first seven months of 2026 reached N$78.6 billion, N$1.9 billion higher than during the corresponding period in 2025.
However, cumulative imports increased more sharply to N$104.2 billion from N$85.4 billion over the same period last year.
Non-monetary gold was Namibia’s biggest export commodity in July, generating N$1.91 billion and accounting for 17.9% of total exports.
Fish followed at N$1.49 billion, or 14%, while precious stones, mainly diamonds, generated N$1.48 billion, accounting for 13.8%.
Nickel ores and concentrates contributed N$635 million, while uranium exports were valued at N$625 million. Together, the five leading export commodities accounted for 57.5% of Namibia’s total exports.
The NSA said Namibia’s July export basket remained heavily concentrated in mining commodities, with fish the only non-mineral product among the top five.
South Africa remained Namibia’s largest trading partner and the main destination for non-monetary gold. Fish exports were primarily destined for Spain, Zambia and Mozambique, while diamonds were mainly shipped to Botswana, the United Arab Emirates and Belgium. Uranium exports were largely destined for China.
On the import side, petroleum oils remained the largest commodity at N$2.78 billion, accounting for 16.8% of total imports.
Nickel ores and concentrates followed at N$875 million, sulphur and unroasted iron pyrites at N$665 million, commercial motor vehicles at N$636 million and passenger vehicles at N$467 million.
The five largest import commodities accounted for 32.8% of the country’s total import bill.
Despite the overall monthly decline in imports, the largest reductions were recorded in petroleum oils, which fell by N$1.3 billion, followed by sulphur and unroasted iron pyrites, down N$532 million.
Fertiliser imports declined by N$486 million, commercial motor vehicles by N$266 million and pumps and fans by N$178 million.
By industry, manufacturing generated N$6.2 billion in exports, accounting for more than half of Namibia’s export earnings, while mining and quarrying accounted for 36.3% and agriculture, forestry and fishing contributed 5.4%.
Manufacturing exports were led by basic metals at N$2.08 billion, food products at N$2.02 billion and chemicals at N$864 million.
Manufactured goods also dominated the import bill, with Namibia importing N$12 billion worth of manufactured products during July. Mining and quarrying imports amounted to N$4.2 billion, while agriculture, forestry and fishing imports stood at N$347 million.
“The demand side displays the country’s reliance on foreign manufactured goods after recording huge import flows of products from this industry,” the NSA said.
Namibia exported goods to 102 markets during July, seven fewer than in June, while imports originated from 160 markets, one more than the previous month.
South Africa remained Namibia’s largest market for both exports and imports.
Namibia recorded trade surpluses of N$1.1 billion with Botswana, N$568 million with Zambia and N$406 million with Spain.
However, the country recorded a N$2.6 billion trade deficit with South Africa, N$1.4 billion with the United States and N$896 million with China.
By economic region, the Southern African Customs Union (SACU) accounted for 37.8% of Namibia’s exports, followed by OECD markets at 21.6% and SADC countries outside SACU at 19.8%.
SACU also dominated imports with a 34.2% share, followed by OECD markets at 25.8% and BRIC+ at 17.4%.
Namibia recorded a N$533 million trade surplus in food products during July but remained a net importer of beverages, recording a N$282 million deficit.
Wheat and meslin was the NSA’s commodity of the month, with Namibia re-exporting N$85.5 million worth of the commodity, mainly to Zambia, while imports amounted to N$169 million and were sourced primarily from Germany, Latvia and Poland.
