Namibia imports medicine worth over N$1 billion

October 06, 2022 1958

Namibia imported medicinal and pharmaceutical products valued at over N$1 billion in the 12 months to August 2022, latest official statistics show. 

The country’s medical sector is heavily reliant on imports with limited domestic production due to limited manufacturing infrastructure and technical capacity as well as lack of access to raw materials. 

According to the Namibia Statistics Agency (NSA), the country imported medicinal products averaging N$91.9 million between August 2021 and August this year mainly from South Africa and Belgium, with the largest value of N$164.3 million recorded in September 2021. 

"From August 2021 to August 2022, Namibia’s exports of medicinal and pharmaceutical products to the ROW averaged at N$11.2 million with the highest value being N$73.4 million recorded in February 2022," states the report. 

Meanwhile, Namibia recorded a trade deficit of N$2.9 billion in August 2022 as exports stood at N$7.2 billion against imports of N$10.1 billion, with the overall total trade coming in at N$17.3 billion. 

Month-on-month exports decreased by 13.1% in August from N$8.3 billion recorded in July 2022. However, on an annual basis, exports increased by 35.2% from N$5.3 billion registered in August 2021. 

"Import value decreased by 9.2 percent when compared to the value recorded in July 2022 and increased by 26.7 percent when compared to its levels of N$8.0 billion in August 2021. Botswana remained the country’s largest export destination, with a share of 22.2 percent of all goods exported followed by South Africa with a share of 18.0 percent," said NSA. 

The bulletin adds that China, Zambia and the UAE formed part of Namibia’s top five export markets. 

The demand side saw South Africa maintaining her first position as the country’s largest source of imports, accounting for 43.2% of total imports into Namibia followed by the United Arab Emirates in the second position with 9.7% of the market share. 

China, Saudi Arabia and the USA also formed part of Namibia’s top five import markets. 

Meanwhile, the analysis of exports by commodities revealed that precious stones (diamonds) had the largest share of 30.1% in Namibia’s total exports ahead of fish with a share of 11.8%. 

Uranium accounted for 7.6%, while non-monetary gold and petroleum oils came in fourth and fifth positions accounting for 7.4% and 6.5%, respectively.

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Last modified on Saturday, 08 October 2022 10:39