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Nam-UK trade tops N$2.4 billion

September 20, 2022 622

Total trade between Namibia and the United Kingdom (UK) reached a high of N$2.4 billion in the 12 months to March 2022, an increase of 7.3% (N$161.4 million) from the previous corresponding period, latest figures show.

According to the UK’s Department of Trade, total British imports from Namibia amounted to N$585.1 million in the period under review, a decrease of 14.7% (N$100.8 million) compared to the same period in 2021. 

At the same time, exports to Namibia reached N$1.8 billion in the four quarters to the end of the first quarter of 2022, an increase of 17.1% (N$262.3 million) compared to the four quarters to the end of the first quarter of the previous year. 

Namibia was the UK’s joint 136th largest trading partner in the four quarters to the end of quarter 1, 2022, accounting for less than 0.1% of total UK trade. 

This comes as Namibia recorded a trade deficit of N$4.3 billion for July 2022 as exports stood at N$7.3 billion against imports of N$11.6 billion, with the overall total trade coming in at N$18.9 billion. 

Botswana continued to be the nation's top export market, taking in 20.5% of all exported goods, followed by South Africa at 19.8%, according to the Namibia Statistics Agency. 

Additionally, three of Namibia's top five export markets were China, Zambia, and the Netherlands.

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Last modified on Friday, 23 September 2022 02:00

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