Africa-Press – Namibia. Namibia’s mining and quarrying sector generated N$5.3 billion in export earnings in July, accounting for 45.3% of the country’s total exports, the Namibia Statistics Agency (NSA) reports.
The NSA says exports from the sector increased by N$48 million compared to June.
The mining of metal ores contributed N$3.8 billion, while other mining and quarrying activities added N$1.5 billion.
Uranium exports topped the list, recording a trade surplus of N$3.3 billion. Precious stones, including diamonds, followed with N$1.5 billion, matched by non-monetary gold, which also posted a surplus of N$1.5 billion.
These commodities ranked as the top three contributors to Namibia’s export earnings.
On the import side, the mining and quarrying industry accounted for N$2.4 billion in July, reflecting a 4.4% increase from the previous month.
The NSA reported that petroleum oils placed the heaviest burden on Namibia’s trade balance, registering a deficit of N$1.3 billion. Imports of motor vehicles for commercial use and passenger transport also contributed to the deficit, at N$494 million and N$366 million, respectively.
“The mining sector remains a cornerstone of Namibia’s economy, with uranium, diamonds and gold forming the backbone of export revenues.
However, this reliance poses risks due to unpredictable price volatility of minerals in the global market,” the NSA says.
“Imports were mainly dominated by essential items such as petroleum oils, motor vehicles (for commercial purposes) and mechanical handling equipment, thus reflecting dependency on foreign industrial inputs to support domestic activities,” it says.
The agency says the composition of trade suggested a need for greater export diversification, increased domestic production capacity, and industrialisation to reduce import dependency and strengthen economic resilience.
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