Export earnings drop 10.7%

Jo-Maré Duddy – Namibia earned about N$7.8 billion in exports in December, around N$927 million or 10.7% less than the previous month.
Compared to December 2019, exports were down about 3.7%, according to the latest data released by the Namibia Statistics Agency (NSA).
Imports in December totalled N$8.3 billion, dropping by some N$3 billion or 26.6%. However, year-on-year, imports were up 3%.
Namibia’s trade deficit in December was about N$546 million, the lowest deficit recorded in 2020. In December 2019, the country recorded a trade surplus of some N$19 million.
China maintained its position as Namibia’s largest export destination, with a share of 38.1% of all goods exported followed by South Africa with a share of 13.6%.
South Africa maintained the first spot as the country’s largest source of imports, accounting for 47.3% of total imports into Namibia. Zambia held firm on its second position with 17% of the market share.