Namibia’s trade deficit hits N$5.5 billion

Namibia's trade deficit widened to N$5.5 billion in June 2026, the Namibia Statistics Agency (NSA) said, as imports continued to outpace exports.Exports amounted to N$12.9 billion during the month, while imports reached N$18.3 billion.The deficit represents a deterioration from the N$3.2 billion shortfall recorded in May 2026, and compares with a trade surplus of N$669 million recorded in June 2025.NSA statistician general and chief executive officer Alex Shimuafeni said the latest figures reflected continued pressure from higher import demand."Namibia's trade balance recorded a deficit of N$5.5 billion in June 2026, mainly due to imports exceeding exports by a significant margin," Shimuafeni said."Exports were mainly driven by mineral commodities, including uranium, non-monetary gold, precious stones such as diamonds, and nickel ores and concentrates. Fish remained the only non-mineral product among the country's top five export commodities."China was Namibia's largest export destination during the month, while South Africa remained the country's biggest source of imports.Shimuafeni said re-exports also recorded growth during the period, increasing by 9.9% month-on-month and 26.4% year-on-year."The increase in re-exports was largely attributed to commodities such as nickel ores and concentrates, petroleum oils, ores and concentrates of base metals, sulphur and unroasted iron pyrites, as well as rubber tyres," he said.The country's import basket was dominated by petroleum oils, sulphur and unroasted iron pyrites, nickel ores and concentrates, commercial motor vehicles and fertilisers.A review of food and beverage trade showed that Namibia remained a net exporter of food products, recording a surplus of N$743 million.Namibia remained a net importer of beverages, however, running a N$258 million deficit in the category.The NSA's commodity of the month focus fell on office wooden furniture. Namibia re-exported N$9.4 million worth, mainly to Angola and South Africa, while importing N$3.8 million worth, largely sourced from South Africa.Shimuafeni said the trade data highlighted the continued importance of strengthening domestic production capacity."While Namibia continues to benefit from strong demand for mineral exports, there remains a need to expand value addition and increase the production of locally manufactured goods to reduce reliance on imports," he said.

Namibia’s trade deficit hits N$5.5 billion

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Republikein 2026-08-07

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Namibia’s trade deficit hits N$5.5 billion

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