COMMODITIES: Namibia imported blankets valued at N$10.8 million for the month of May.
Photo: BEMU
COMMODITIES: Namibia imported blankets valued at N$10.8 million for the month of May. Photo: BEMU

Trade deficit on continued decline

N$10.8 million worth of blankets imported
In May, Namibia's exports stood at N$9.4 billion and imports at N$12.8 billion, resulting in a trade deficit of N$3.3 billion.
Ogone Tlhage
The Namibia Statistics Agency (NSA) observed that Namibia’s trade deficit continued to show a decline for the months of April and May, marking a widening of approximately N$3.3 billion for the period under review.

In May, Namibia’s exports stood at N$9.4 billion and imports at N$12.8 billion, resulting in a trade deficit of N$3.3 billion.

During May, exports decreased by 0.7% from N$9.5 billion recorded in April, and increased by 2.8% when compared to May 2023. The import value increased by 1.1% when compared to the value recorded in April and by 6.2% when compared to the value of N$12 billion recorded in May 2023, trade statistics showed.

“An analysis on the importation and exportation of blankets as the commodity of the month revealed that in May, Namibia exported blankets amounting to N$29 387, while on the demand side, Namibia imported blankets valued at N$10.8 million - mainly sourced from South Africa and China. Imports of the commodity averaged monthly at N$6.5 million over the period May 2023 to May 2024,” the NSA said.

Trade partners

Southern neighbours South Africa remained Namibia’s largest trade partner followed by Botswana and Zambia.

“South Africa emerged as the country’s largest export destination, with a share of 21.6% of all goods exported, followed by Botswana with a share of 15.8%. Furthermore, Zambia, Belgium and Spain formed part of Namibia’s top five export markets. The demand side saw South Africa maintaining her position as the country’s largest source for imports, accounting for 35.3% of total imports into Namibia followed by China in second position with 12.3% of the market share,” the NSA said.

“The United Arab Emirates, Bahrain and India also formed part of Namibia’s top five import Markets. The analysis of exports by commodities revealed that precious stones had the largest share of the export basket, accounting for 20.6% of Namibia’s total exports ahead of fish with 13.1% and non-monetary gold with a share of 12.6%. Lastly, copper and articles of copper (6.7%) and petroleum oils (5.5%) came in fourth and fifth positions,” it added.

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Currie Cup: NovaVit Griffons 15 vs 64 DHL Western Province | Hollywoodbets Sharks XV 21 vs 31 Airlink Pumas | Vodacom Bulls 25 vs 13 Toyota Cheetahs XV | Fidelity ADT Lions 25 vs 13 Suzuki Griquas Rugby World Cup U20: England U20 21 vs 13 France U20 | Australia U20 6 vs 14 Argentina U20 | Ireland U20 24 vs 38 New Zealand U20 | Italy U20 13 vs 24 Georgia U20 | Wales U20 31 vs 47 South Africa U20 | Spain U20 24 vs 19 Fiji U20 Katima Mulilo: 13° | 33° Rundu: 13° | 34° Eenhana: 13° | 34° Oshakati: 14° | 32° Ruacana: 14° | 33° Tsumeb: 17° | 30° Otjiwarongo: 11° | 29° Omaruru: 12° | 30° Windhoek: 8° | 25° Gobabis: 8° | 30° Henties Bay: 11° | 17° Wind speed: 16km/h, Wind direction: S, Low tide: 10:00, High tide: 04:01, Low Tide: 22:27, High tide: 16:30 Swakopmund: 12° | 15° Wind speed: 15km/h, Wind direction: SW, Low tide: 09:58, High tide: 03:59, Low Tide: 22:25, High tide: 16:28 Walvis Bay: 10° | 20° Wind speed: 17km/h, Wind direction: SW, Low tide: 09:58, High tide: 03:58, Low Tide: 22:25, High tide: 16:27 Rehoboth: 9° | 27° Mariental: 10° | 27° Keetmanshoop: 9° | 24° Aranos: 9° | 28° Lüderitz: 11° | 19° Ariamsvlei: 10° | 25° Oranjemund: 9° | 18° Luanda: 20° | 22° Gaborone: 11° | 27° Lubumbashi: 13° | 31° Mbabane: 12° | 23° Maseru: 3° | 19° Antananarivo: 12° | 25° Lilongwe: 16° | 30° Maputo: 17° | 24° Windhoek: 8° | 25° Cape Town: 9° | 15° Durban: 13° | 21° Johannesburg: 12° | 22° Dar es Salaam: 21° | 31° Lusaka: 16° | 30° Harare: 14° | 27° Currency: GBP to NAD 23.53 | EUR to NAD 19.86 | CNY to NAD 2.51 | USD to NAD 18.26 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.3 | EGP to NAD 0.37 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.69 | ZWL to NAD 0.04 | BRL to NAD 3.28 | RUB to NAD 0.21 | INR to NAD 0.22 | USD to DZD 133.95 | USD to AOA 872.64 | USD to BWP 13.58 | USD to EGP 48.36 | USD to KES 130.98 | USD to NGN 1584.2 | USD to ZAR 18.26 | USD to ZMW 25.9 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1757.83 Down -0.25% | Casablanca Stock Exchange (CSE) MASI 13623.01 Up +0.20% | Egyptian Exchange (EGX) 30 Index 28783.24 Up +0.45% | Botswana Stock Exchange (BSE) DCI 9380.4 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$ 2 391.98/OZ DOWN -0.0081 | Copper US$ 4.19/lb DOWN -0.0139 | Zinc US$ 2 743.30/T DOWN -1.55% | Brent Crude Oil US$ 82.76/BBP DOWN -0.0071 | Platinum US$ 944.71/OZ DOWN -0.0261 Sport results: Currie Cup: NovaVit Griffons 15 vs 64 DHL Western Province | Hollywoodbets Sharks XV 21 vs 31 Airlink Pumas | Vodacom Bulls 25 vs 13 Toyota Cheetahs XV | Fidelity ADT Lions 25 vs 13 Suzuki Griquas Rugby World Cup U20: England U20 21 vs 13 France U20 | Australia U20 6 vs 14 Argentina U20 | Ireland U20 24 vs 38 New Zealand U20 | Italy U20 13 vs 24 Georgia U20 | Wales U20 31 vs 47 South Africa U20 | Spain U20 24 vs 19 Fiji U20 Weather: Katima Mulilo: 13° | 33° Rundu: 13° | 34° Eenhana: 13° | 34° Oshakati: 14° | 32° Ruacana: 14° | 33° Tsumeb: 17° | 30° Otjiwarongo: 11° | 29° Omaruru: 12° | 30° Windhoek: 8° | 25° Gobabis: 8° | 30° Henties Bay: 11° | 17° Wind speed: 16km/h, Wind direction: S, Low tide: 10:00, High tide: 04:01, Low Tide: 22:27, High tide: 16:30 Swakopmund: 12° | 15° Wind speed: 15km/h, Wind direction: SW, Low tide: 09:58, High tide: 03:59, Low Tide: 22:25, High tide: 16:28 Walvis Bay: 10° | 20° Wind speed: 17km/h, Wind direction: SW, Low tide: 09:58, High tide: 03:58, Low Tide: 22:25, High tide: 16:27 Rehoboth: 9° | 27° Mariental: 10° | 27° Keetmanshoop: 9° | 24° Aranos: 9° | 28° Lüderitz: 11° | 19° Ariamsvlei: 10° | 25° Oranjemund: 9° | 18° Luanda: 20° | 22° Gaborone: 11° | 27° Lubumbashi: 13° | 31° Mbabane: 12° | 23° Maseru: 3° | 19° Antananarivo: 12° | 25° Lilongwe: 16° | 30° Maputo: 17° | 24° Windhoek: 8° | 25° Cape Town: 9° | 15° Durban: 13° | 21° Johannesburg: 12° | 22° Dar es Salaam: 21° | 31° Lusaka: 16° | 30° Harare: 14° | 27° Economic Indicators: Currency: GBP to NAD 23.53 | EUR to NAD 19.86 | CNY to NAD 2.51 | USD to NAD 18.26 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.3 | EGP to NAD 0.37 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.69 | ZWL to NAD 0.04 | BRL to NAD 3.28 | RUB to NAD 0.21 | INR to NAD 0.22 | USD to DZD 133.95 | USD to AOA 872.64 | USD to BWP 13.58 | USD to EGP 48.36 | USD to KES 130.98 | USD to NGN 1584.2 | USD to ZAR 18.26 | USD to ZMW 25.9 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1757.83 Down -0.25% | Casablanca Stock Exchange (CSE) MASI 13623.01 Up +0.20% | Egyptian Exchange (EGX) 30 Index 28783.24 Up +0.45% | Botswana Stock Exchange (BSE) DCI 9380.4 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$ 2 391.98/OZ DOWN -0.0081 | Copper US$ 4.19/lb DOWN -0.0139 | Zinc US$ 2 743.30/T DOWN -1.55% | Brent Crude Oil US$ 82.76/BBP DOWN -0.0071 | Platinum US$ 944.71/OZ DOWN -0.0261