{"id":55441,"date":"2023-10-07T13:36:55","date_gmt":"2023-10-07T13:36:55","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/namibia-records-largest-year-on-year-trade-deficit-in-august"},"modified":"2023-10-07T14:08:36","modified_gmt":"2023-10-07T14:08:36","slug":"namibia-records-largest-year-on-year-trade-deficit-in-august","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/namibia-records-largest-year-on-year-trade-deficit-in-august","title":{"rendered":"Namibia records largest year-on-year trade deficit in August"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Namibia. <\/strong><\/span>Namibia\u2019s trade balance stood at a deficit of 4.9 billion Namibia dollars (about 320 million U.S. dollars) in August, surpassing the 3.7 billion Namibia dollars recorded in July and the 4.1 billion Namibia dollars in August 2022, marking the largest deficit year on year, according to the latest figures released by the Namibia Statistics Agency (NSA).<\/p>\n<p>Namibia\u2019s export earnings decreased 10.2 percent, falling from 8.2 billion Namibia dollars in the previous month to 7.4 billion Namibia dollars in August, NSA Statistician General Alex Shimuafeni said Thursday.<\/p>\n<p>\u201cWhen compared to August 2022, exports decreased by 6.3 percent from 7.9 billion Namibia dollars, the imports stood at 12.3 billion Namibia dollars while the import bill for the month under review increased by 3 percent month-on-month and 2.2 percent year-on-year,\u201d he noted.<\/p>\n<p>Shimuafeni said that South Africa emerged as Namibia\u2019s largest market for both exports and imports.<\/p>\n<p>\u201cThe composition of the export basket for the month of August 2023 mainly consisted of minerals such as precious stones (diamonds), non-monetary gold, copper and articles of copper, and petroleum oils, while fish remained the only non-mineral product within the top five products exported,\u201d he said.<\/p>\n<p>Regarding imports, the basket mainly consisted of petroleum oils, motor vehicles for the transport of goods, vessels, rotating electric plant and parts, and civil engineering and contractors\u2019 equipment, he added.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/namibia\">Namibia<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Namibia. Namibia\u2019s trade balance stood at a deficit of 4.9 billion Namibia dollars (about 320 million U.S. dollars) in August, surpassing the 3.7 billion Namibia dollars recorded in July and the 4.1 billion Namibia dollars in August 2022, marking the largest deficit year on year, according to the latest figures released by the [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":55440,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[234,236,233],"class_list":["post-55441","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Namibia records largest year-on-year trade deficit in August - 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