Namibia’s total merchandise trade increases in March

Nigerian traders
Photo: Pixabay

Namibia’s total merchandise trade in March increased to 15.7 billion Namibia dollars (1.1 billion U.S. dollars), up from 15.1 billion recorded in February, according to Namibia Statistics Agency (NSA) on Wednesday.

NSA Statistician-General Alex Shimuafeni, in the latest trade statistic report, however, said the country’s trade deficit for the month stood at 2.6 billion Namibia dollars, down from 2.7 billion dollars of the previous month.

Namibia reported a trade surplus of about 1.7 billion Namibia dollars in March 2020.

The report said “China continued as Namibia’s largest export market while South Africa maintained its first position as Namibia’s largest source of imports.”

Shimuafeni said the country’s export basket mainly comprises of minerals such as copper, precious stones, fish and uranium.

Namibia mainly import copper, petroleum and petroleum products, copper ores, motor vehicles, and medicines, he said.

According to Shimuafeni, the March 2021 trade figures indicate that re-exports improved, rising by 5.3 percent month-on-month, while a more significant increase of 13.9 percent was noted year-on-year.

“Copper had the largest share of all goods re-exported, accounting for 56.5 percent of total re-exports, mainly destined to China, France, the Netherlands, India, and Germany. Most of the copper re-exported originated from Zambia and DRC,” he said, referring to the Democratic Republic of Congo. Enditem

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