Namibia’s fish export industry continues to perform well, with a total export value of N$10.7 billion recorded year-to-date (January to September 2023) surpassing prior records, official figures show.
While the overall trend remains positive, a report by Simonis Storm Securities reveals a slight decline in the value of domestic fish exports during September 2023. According to this report, despite an overall positive trend, the value of domestic fish exports experienced a slight decline of 2.5% year-on-year in September 2023. However, this dip represents a significant improvement from the sharp 27.0% decline observed in August 2023, suggesting a potential rebound in the coming months.
Simonis Storm Securities researcher Halleluya Ndimulunde noted that fish remains a cornerstone of Namibia’s non-mineral exports, securing the third position among the top five exported items.
“It (fish) contributed 12.1% to the total exports during the mentioned period, with 0.3% attributed to reexports. Spain and Zambia emerged as primary destinations for Namibia’s fish exports,” she said.
Derek Klazen, the Minister of Fisheries and Marine Resources, has announced a forthcoming study aimed at reassessing the criteria for fishing rights variation.
“It (the study) allows the Ministry to assess if right holders adhere to the set variation criteria and implement applicable measures, which will inform the continuation or termination of such fishing rights. I therefore call upon all right holders to fully participate when the Ministry undertakes this vital exercise,” he said.
In a parallel development, the Namibian Competition Commission (NaCC) has initiated an investigation into the fishing sector.
The NaCC investigation will thoroughly examine the claims regarding quota usage fees to ensure fair and competitive practices within the industry.
This comes as Namibia’s fishing industry experienced substantial growth in the second quarter of 2023, with exports reaching N$4.1 billion, a notable increase from the N$3.2 billion recorded during the same period last year.
Statistics from the Namibia Statistics Agency (NSA) reveal that Spain emerged as the top destination for fish and aquatic exports, constituting 36.6% of the share, primarily driven by frozen fillet of hake.
The Democratic Republic of Congo followed with a 15.4% share, largely comprising frozen mackerel.
Overall, Namibia’s fish and aquatic exports, encompassing fish, crustaceans, molluscs, and other aquatic invertebrates, attained a total value of N$1.2 billion in August. Spain remained a key market, receiving the majority of exports.
However, the NSA reported that N$14.3 million of the N$1.2 billion came from re-exports, while imports of similar commodities amounted to N$45.5 million during the same month.
The Namibia Merchandise Trade Statistics Bulletin for August 2023 also highlighted that the country imported N$45.5 million worth of fish-related products, with a significant portion originating from South Africa.
Namibia’s fish exports reached their zenith in June 2023, valued at N$1.6 billion, and touched low of N$695.8 million in November 2022.
