Namibia’s trade deficit narrows

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Namibia
Namibia

Namibia’s trade deficit slowed down by 22.8 percent to 5.8 billion Namibian dollars (467 million U.S. dollars) in the first quarter of the year compared to 7.6 billion Namibian dollars (611 million U.S. dollars) recorded in the same period last year, the Namibia Statistics Agency said Wednesday.

NamibiaThe decline was due to a slight reversal in the overall import expenditure which stood at 19.4 billion Namibian dollars (1.56 billion U.S. dollars)down from 20.6 billion Namibian dollars (1.66 billion U.S. dollars)in the first quarter of 2014.

The overall export revenue remained relatively constant when compared to the same quarter a year ago, rising marginally by 3.9 percent.

The bulk of Namibia’s exports (63.9 percent) were destined for Botswana, South Africa, Switzerland and Angola, while 85 percent of imports were sourced from South Africa, China, Switzerland, Botswana and the DRC. Enditem

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