Staff Reporter
BOTSWANA emerged as Namibia’s largest export destination, accounting for 23.3% of all goods exported, while South Africa maintained its position as the country’s largest source of imports, representing 37.8% of total imports in July 2023.
This information was revealed in the latest trade statistics from the Namibia Statistics Agency (NSA), which indicated that in July 2023, Namibia’s exports amounted to N$8.3 billion, with imports reaching N$11.9 billion.
While 23.3% of this N$8.3 billion in exported goods can be attributed to Botswana as the largest export destination, 19.6% can be attributed to South Africa, which emerged as Namibia’s second-largest export destination in July. China, Zambia, and Spain were highlighted as the third, fourth, and fifth-largest export destinations respectively in July.
“The export basket for July 2023 primarily comprised minerals such as precious stones (diamonds), uranium, non-monetary gold, and petroleum oils. Fish remained the only non-mineral product among the top five products exported,” explained Alex Shimuafeni, NSA’s Statistician General and Chief Executive Officer (CEO).
Analysis of exports revealed that precious stones, particularly diamonds, constituted the largest share at 30.5% of Namibia’s total exports, followed by uranium at 15.2%, and fish at 13.7%. Non-monetary gold took the fourth position, accounting for 11%, followed by petroleum oils at 4.4%.
While 37.8% of the N$11.9 billion worth of imports were from South Africa this July, 11.7% were from the South American country of Peru. The other top import destinations for July are Oman in West Asia, the United States of America (USA), and the Middle Eastern country of Saudi Arabia.
“The import basket mainly comprised petroleum oils, copper ores and concentrates, motor vehicles for the transport of goods, ‘civil engineering and contractors’ equipment,’ and motor cars for the transport of persons,” said Shimuafeni.
In this regard, petroleum oils were the highest-valued commodity, accounting for 15.3% of total imports, followed by copper ores and concentrates at 11.7%, and motor vehicles for the transport of goods at 4%. Additionally, ‘civil engineering and contractors” equipment’ and motor cars for the transport of persons contributed 3.4% and 2.7%, respectively.
All in all, however, Namibia’s exports decreased by 3.8% from the N$8.6 billion recorded in June. July 2023’s exports are also 0.3% less than the N$8.3 billion recorded last year during the same period. The import value, on the other hand, increased by 17.8% when compared to the value recorded in June, and by 12.5% when compared to the value recorded in July 2022.
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