Namibia released its latest trade statistics on Tuesday.
According to the Namibia Statistics Agency (NSA), during October 2022, Namibia’s top five export markets were China, South Africa, Zambia, Belgium, and Botswana which accounted for 71.1 percent of total exports, up from 52.4 percent witnessed in September 2022 and 63 percent recorded in October 2021.
“China emerged as the main export market for Namibia, absorbing 29.1 percent of all goods exported, followed by South Africa with a market share of 18.7 percent of total exports. Zambia and Belgium ranked third and fourth with a relative share of 9 percent and 8.3 percent, respectively,” the report stated.
The composition of the export basket for October 2022 mainly consisted of minerals such as uranium, diamonds, non-monetary gold, and petroleum oils, the NSA noted, adding that fish continued to be the only non-mineral commodity within the top five products exported.
Meanwhile, the NSA said for the month under review, Namibia’s export earnings declined by 10.2 percent from 8.7 billion Namibia dollars (584 million U.S. dollars) recorded the previous month to 7.8 billion Namibia dollars.
Similarly, the import bill amounted to 9.5 billion Namibia dollars, representing a decrease of 15.5 percent from 11.3 billion Namibia dollars recorded in September. Enditem