South Africa remains Namibia’s key trading partner
Written by on June 4, 2024
The latest trade statistics released by the Namibia Statistics Agency (NSA) on Tuesday show that South Africa remains Namibia’s main trading partner.
The NSA says Namibia recorded a trade deficit of N$3,1 billion by the end of April.
This is compared to N$4,6 billion and N$1,2 billion recorded in March this year and April 2023, respectively.
“Namibia’s trade composition by partner showed that South Africa emerged as Namibia’s largest market for both exports and imports. The composition of the export basket for April 2024 mainly consisted of minerals, such as precious stones (diamonds), uranium, non-monetary gold and petroleum oils,” NSA statistician general Alex Shimuafeni says.
Fish remained the only non-mineral product within the top five products exported, the agency says.
The NSA also shows that re-exports increased by 2,6% month on month, and with 17,5% year on year.
The re-exports basket mainly consisted of salts and peroxy salts, petroleum oils and precious stones (diamonds).
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