Surge in trade deficit

Jo-Maré Duddy – Namibia exported goods to the tune of N$7.6 billion in October, down 14.3% from September, but on par with the nearly N$7.65 billion in October last year.
Data released by the Namibia Statistics Agency (NSA) this morning shows imports amounted to about N$11.6 billion, up 11% from September and 11.6% from a year ago.
Namibia registered a trade deficit of N$3.9 billion in October, a 160% jump from the N$1.5 billion of September and 44% higher than the N$2.7 billion recorded in October 2019.
Including re-exports, China was Namibia’s largest export market in the month under review, while South Africa maintained its position as the number-one source of imports.