Namibia’s trade with Asian market declines in April

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Economy
Asian Market

Namibia’s trade with the Asian market in April decreased to 2.2 billion Namibian dollars (about 142 million US dollars) from 4.2 billion Namibian dollars in March, the country’s statistics agency (NSA) said Thursday.

This is a result of a decline in exports by 1.7 billion Namibian dollars and a decrease in imports by 258 million Namibia dollars in April, NSA Statistician-General Alex Shimuafeni said in the latest trade statistics released Thursday.

On a year-on-year basis, Namibia’s trade activities went up during April when compared to the same month of 2021, he said, adding that cumulative trade for the month increased by a noticeable 13 percent.

According to Shimuafeni, Namibia’s trade composition by partners showed that South Africa emerged as Namibia’s largest market for exports.

“The composition of the export basket for April 2022 was mainly comprised of minerals such as precious stones, uranium as well as non-monetary gold. Fish continued to be the only non-mineral commodity within the top five products exported,” he said.

On the other hand, Shimuafeni said that the import basket was mainly comprised of petroleum, inorganic chemical elements, sulfur and unroasted iron pyrites as well as motor vehicles for the transportation of goods. Enditem

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