Africa-Press – Namibia. THE statistics agency says the country’s total merchandise trade exceeded N$20 billion as at November last year. However, this is a decline of over 13% compared to N$24 billion recorded in October last year.
In a report released yesterday, the Namibia Statistics Agency (NSA) said while the economic performance is improving, the total trade balance remained in a deficit, standing at more than N$3 billion, which was revised from over N$6 billion.
Regarding the country’s trade composition by partner, NSA said China emerged as Namibia’s largest market for exports, whereas South Africa maintained its position as the largest source market for the country.
The statistics agency said the composition of the export basket was mainly minerals such as copper, uranium, precious stones (diamonds) as well as non-monetary gold. Fish continued to be the only non-mineral commodity within the top five products exported.
Abel Sindano, the executive of economic statistics at NSA, told The Namibian yesterday that as of November 2021, Namibia exported goods worth N$8,8 billion, while importing goods worth N$12,1 billion over the same period, resulting in a trade deficit of N$3,3 billion.
“When we look at our export market in November 2021, our main market was China where we have exported goods of N$3,5 billion. This was followed by South Africa, Botswana, Zambia and the United Arab Emirates,” said Sindano.
Looking at Namibia’s import sources over the same period, most goods valued at N$4,8 billion (representing 40% of imports) were imported from South Africa, followed by Zambia, China and the United States.
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