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Petroleum oils drive N$10bn import bill

Weak rand likely to keep imports inflated

A depreciation in the local currency makes imports expensive and exports cheap, while an appreciation makes imports cheap and exports expensive.

Phillepus Uusiku

1 Jaar Gelede - 2023-03-08 00:00:00

Namibia’s N$10 billion import bill in January 2023 was mainly driven by petroleum oils, with a share of 32.4% of the nation’s total import value. Petroleum oils were mostly sou

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Katima Mulilo: 21° | 38° Rundu: 19° | 39° Eenhana: 19° | 40° Oshakati: 19° | 38° Ruacana: 19° | 39° Tsumeb: 23° | 37° Otjiwarongo: 18° | 37° Omaruru: 18° | 37° Windhoek: 19° | 34° Gobabis: 18° | 35° Henties Bay: 14° | 21° Wind speed: 21km/h, Wind direction: W, Low tide: 08:56, High tide: 03:15, Low Tide: 21:17, High tide: 15:18 Swakopmund: 13° | 16° Wind speed: 17km/h, Wind direction: NW, Low tide: 08:54, High tide: 03:13, Low Tide: 21:15, High tide: 15:16 Walvis Bay: 13° | 21° Wind speed: 21km/h, Wind direction: NW, Low tide: 08:54, High tide: 03:12, Low Tide: 21:15, High tide: 15:15 Rehoboth: 17° | 36° Mariental: 20° | 37° Keetmanshoop: 22° | 37° Aranos: 19° | 37° Lüderitz: 16° | 27° Ariamsvlei: 20° | 38° Oranjemund: 14° | 22° Luanda: 25° | 26° Gaborone: 19° | 34° Lubumbashi: 18° | 29° Mbabane: 15° | 28° Maseru: 13° | 30° Antananarivo: 16° | 32° Lilongwe: 21° | 30° Maputo: 19° | 29° Windhoek: 19° | 34° Cape Town: 15° | 23° Durban: 16° | 23° Johannesburg: 16° | 29° Dar es Salaam: 25° | 31° Lusaka: 19° | 31° Harare: 18° | 27° Currency: GBP to NAD 22.65 | EUR to NAD 19.15 | CNY to NAD 2.47 | USD to NAD 17.6 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.27 | EGP to NAD 0.35 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.65 | ZWL to NAD 0.04 | BRL to NAD 3.04 | RUB to NAD 0.18 | INR to NAD 0.21 | USD to DZD 132.82 | USD to AOA 909.05 | USD to BWP 13.42 | USD to EGP 48.9 | USD to KES 129.2 | USD to NGN 1650.78 | USD to ZAR 17.6 | USD to ZMW 26.73 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1855.18 Down -0.76% | Casablanca Stock Exchange (CSE) MASI 14168.1 Down -0.1% | Egyptian Exchange (EGX) 30 Index 30658 Up +0.94% | Botswana Stock Exchange (BSE) DCI 9844.57 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 746.17/OZ DOWN -0.0141 | Copper US$ 4.35/lb UP +0.32% | Zinc US$ 3 053.80/T UP 0.34% | Brent Crude Oil US$ 74.54/BBP UP +2.03% | Platinum US$ 989.66/OZ DOWN -0.0189 Sport results: Weather: Katima Mulilo: 21° | 38° Rundu: 19° | 39° Eenhana: 19° | 40° Oshakati: 19° | 38° Ruacana: 19° | 39° Tsumeb: 23° | 37° Otjiwarongo: 18° | 37° Omaruru: 18° | 37° Windhoek: 19° | 34° Gobabis: 18° | 35° Henties Bay: 14° | 21° Wind speed: 21km/h, Wind direction: W, Low tide: 08:56, High tide: 03:15, Low Tide: 21:17, High tide: 15:18 Swakopmund: 13° | 16° Wind speed: 17km/h, Wind direction: NW, Low tide: 08:54, High tide: 03:13, Low Tide: 21:15, High tide: 15:16 Walvis Bay: 13° | 21° Wind speed: 21km/h, Wind direction: NW, Low tide: 08:54, High tide: 03:12, Low Tide: 21:15, High tide: 15:15 Rehoboth: 17° | 36° Mariental: 20° | 37° Keetmanshoop: 22° | 37° Aranos: 19° | 37° Lüderitz: 16° | 27° Ariamsvlei: 20° | 38° Oranjemund: 14° | 22° Luanda: 25° | 26° Gaborone: 19° | 34° Lubumbashi: 18° | 29° Mbabane: 15° | 28° Maseru: 13° | 30° Antananarivo: 16° | 32° Lilongwe: 21° | 30° Maputo: 19° | 29° Windhoek: 19° | 34° Cape Town: 15° | 23° Durban: 16° | 23° Johannesburg: 16° | 29° Dar es Salaam: 25° | 31° Lusaka: 19° | 31° Harare: 18° | 27° Economic Indicators: Currency: GBP to NAD 22.65 | EUR to NAD 19.15 | CNY to NAD 2.47 | USD to NAD 17.6 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.27 | EGP to NAD 0.35 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.65 | ZWL to NAD 0.04 | BRL to NAD 3.04 | RUB to NAD 0.18 | INR to NAD 0.21 | USD to DZD 132.82 | USD to AOA 909.05 | USD to BWP 13.42 | USD to EGP 48.9 | USD to KES 129.2 | USD to NGN 1650.78 | USD to ZAR 17.6 | USD to ZMW 26.73 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1855.18 Down -0.76% | Casablanca Stock Exchange (CSE) MASI 14168.1 Down -0.1% | Egyptian Exchange (EGX) 30 Index 30658 Up +0.94% | Botswana Stock Exchange (BSE) DCI 9844.57 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 746.17/OZ DOWN -0.0141 | Copper US$ 4.35/lb UP +0.32% | Zinc US$ 3 053.80/T UP 0.34% | Brent Crude Oil US$ 74.54/BBP UP +2.03% | Platinum US$ 989.66/OZ DOWN -0.0189