Namibia ‘loses’ billions in export earnings

PHILLEPUS UUSIKU Namibia exported goods worth N$5.4 billion in May 2021, a drop of N$5.8 billion or 51.6% when compared to N$11.2 billion recorded in the previous month. Similarly, when compared to N$7.4 billion recorded in May 2020, exports declined by 26.5%, according to the Namibia Statistics Agency (NSA) trade statistics.Imports stood at N$8.6 billion, declining by 24.2% on monthly basis and slightly increasing by 0.2% on annual basis. Following the developments in exports and imports, Namibia’s total merchandise trade with the rest of the world decreased by 37.8% from N$22.6 billion obtained in April 2021 to N$14.1 billion recorded in May 2021, NSA pointed out.A further decline of12.2% was observed in the country’s total trade when compared to its level of N$16 billion registered in May 2020.The trade balance compares the country’s trade flow with the rest of the world in terms of export earnings and expenditure on imports. During the month under review, Namibia recorded a trade deficit to the tune of N$3.2 billion compared to the deficit levels of N$143 million and N$1.2 billion recorded in April 2021 and May 2020. Over the period May 2020 to May2021, Namibia recorded a positive trade balance only in June 2020 amounting to N$338 million, NSA said.MarketsNamibia’s top five trading partners in terms of exports largely remained the same as in the previous month with Spain making it to the list as a new entrant. These top five markets accounted for 67.1% of Namibia’s total exports, up from the 57.1% in April 2021 but down from 69% recorded May 2020, respectively.China emerged as the main export market for the country, absorbing 27.9% of all goods exported, ahead of South Africa in the second place whose market share of Namibia’s exports stood at 14.7% of total exports. Botswana claimed the third position to account for 11.8% while Spain and Netherlands occupied the fourth and fifth positions with respective shares of 7% and 5.6%, NSA pointed out.CommoditiesCopper was Namibia’s largest export commodity during the month under review, accounting for 28.5% of total exports mainly destined to China, Netherlands and France. This was followed by precious stones mainly diamonds which accounted for 16.8% of total exports destined mostly to Botswana, Belgium and the USA. Fish which accounted for 15.2% of total exports mainly due to the demand of that product by Spain, DRC, Zambia and South Africa claimed the third position. The Southern African Customs Union (SACU) was the largest export destination for Namibia’s goods mostly diamond during the month of review with a market share of 46.2% of total exports.Brazil, Russia, India and China (BRIC) and the European Union (EU) followed in the second and third positions, accounting for a market share of 27.9% and 18.3%, respectively, NSA added.Exports amounting to N$3.1 billion, representing 56.9% of total exports left the country by sea. This translated into a decrease of 63% when compared to the value of N$8.4 billion of goods exported in April 2021. However, an increase of 20.3% was noted when compared to its level of N$3.9 billion recorded in May 2020. Air and road transportation accounted for 22.6% and 20.5% of total exports, respectively, NSA said.

Namibia ‘loses’ billions in export earnings

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Republikein 2025-12-17

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Namibia ‘loses’ billions in export earnings

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