{"id":61764,"date":"2024-01-20T16:44:59","date_gmt":"2024-01-20T16:44:59","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/namibian-trade-records-a-deficit-of-n4-billion"},"modified":"2024-01-21T16:19:40","modified_gmt":"2024-01-21T16:19:40","slug":"namibian-trade-records-a-deficit-of-n4-billion","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/namibian-trade-records-a-deficit-of-n4-billion","title":{"rendered":"Namibian trade records a deficit of N$4 billion"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>In November 2023, Namibia\u2019s trade balance revealed a deficit of N$4 billion, as reported by Alex Shimuafeni, the Statistician-General at the Namibia Statistics Agency (NSA), in the Namibia Merchandise Trade Statistics Bulletin for November 2023.<\/p>\n

Shimuafeni noted that the N$4 billion deficit, while showing improvement compared to the N$4.5 billion deficit recorded in October 2023, also represented a worsening when compared to the N$2.8 billion deficit from November 2022.<\/p>\n

China emerged as Namibia\u2019s largest market for exports, while South Africa retained its position as the country\u2019s primary supplier.<\/p>\n

Shimuafeni elaborated on the composition of Namibia\u2019s export basket for November 2023, which was predominantly composed of minerals such as uranium, precious stones (diamonds), non-monetary gold, copper, and articles of copper. Fish remained the sole non-mineral product among the top five exported items.<\/p>\n

In contrast, the import basket for the same period was mainly comprised of petroleum oils, inorganic chemical elements, civil engineering equipment, and motor vehicles for the transportation of goods and medicaments.<\/p>\n

The bulletin highlighted a noteworthy 73.0 percent improvement in the country\u2019s export earnings, increasing from N$6.8 billion in October 2023 to N$11.8 billion in November 2023.<\/p>\n

However, the import bill for November also surged by 39.7 percent, rising from N$11.3 billion in the preceding month, resulting in an increased trade deficit of N$4 billion.<\/p>\n

The document further revealed that Namibia\u2019s exports continued to rise steadily, reaching N$93.6 billion for the first eleven months of 2023, compared to N$88.1 billion during the same period in 2022.<\/p>\n

The monthly increase in exports was driven by significant growth in precious stones (diamonds) by N$1.9 billion, uranium by N$1.5 billion, fruit and nuts by N$458 million, non-monetary gold by N$444 million, and copper and articles of copper by N$366 million.<\/p>\n

Conversely, the monthly increase in imports saw oil rise by N$2.4 billion, inorganic chemical elements by N$262 million, electrical power machinery by N$213 million, and medicaments (including veterinary) and civil engineering and contractors\u2019 equipment increase by N$188 million and N$173 million, respectively.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. In November 2023, Namibia\u2019s trade balance revealed a deficit of N$4 billion, as reported by Alex Shimuafeni, the Statistician-General at the Namibia Statistics Agency (NSA), in the Namibia Merchandise Trade Statistics Bulletin for November 2023. Shimuafeni noted that the N$4 billion deficit, while showing improvement compared to the N$4.5 billion deficit recorded […]<\/p>\n","protected":false},"author":84,"featured_media":61763,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-61764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nNamibian trade records a deficit of N$4 billion - Namibia<\/title>\n<meta name=\"description\" content=\"In November 2023, Namibia\u2019s trade balance revealed a deficit of N$4 billion, as reported by Alex Shimuafeni, the Statist ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibian-trade-records-a-deficit-of-n4-billion\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Namibian trade records a deficit of N$4 billion\" \/>\n<meta property=\"og:description\" content=\"In November 2023, Namibia\u2019s trade balance revealed a deficit of N$4 billion, as reported by Alex Shimuafeni, the Statist ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibian-trade-records-a-deficit-of-n4-billion\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-20T16:44:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-21T16:19:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/01\/sm_1705757589.765466.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibian-trade-records-a-deficit-of-n4-billion#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibian-trade-records-a-deficit-of-n4-billion\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Namibian trade records a deficit of N$4 billion\",\"datePublished\":\"2024-01-20T16:44:59+00:00\",\"dateModified\":\"2024-01-21T16:19:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibian-trade-records-a-deficit-of-n4-billion\"},\"wordCount\":345,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibian-trade-records-a-deficit-of-n4-billion#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/01\/sm_1705757589.765466.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibian-trade-records-a-deficit-of-n4-billion#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibian-trade-records-a-deficit-of-n4-billion\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibian-trade-records-a-deficit-of-n4-billion\",\"name\":\"Namibian trade records a deficit of N$4 billion - 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