South Africa emerges as Namibia’s top trade partner

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A shopper selects goods in a supermarket in Windhoek, Namibia, March 15, 2022. Namibia's annual inflation rate in February 2022 continued on an upward trend, increasing by 4.5 per cent compared to 2.7 per cent recorded in February 2021, the country's statistics agency (NSA) said Tuesday. (Photo by Musa C Kaseke/Xinhua)
A shopper selects goods in a supermarket in Windhoek, Namibia, March 15, 2022. Namibia's annual inflation rate in February 2022 continued on an upward trend, increasing by 4.5 per cent compared to 2.7 per cent recorded in February 2021, the country's statistics agency (NSA) said Tuesday. (Photo by Musa C Kaseke/Xinhua)

Namibia’s trade composition by partners showed that South Africa emerged as Namibia’s largest market for both exports and imports in March 2022, the country’s statistics agency (NSA) announced Thursday.

South Africa emerged as the main export market for Namibia, absorbing 20.8 percent of all goods exported, while it also emerged as the major source of Namibia’s imports, followed by other countries including China, India, Saudi Arabia and Brazil.

The composition of the export basket for March 2022 was mainly composed of minerals such as precious stones (diamonds), inorganic chemical elements, copper blisters as well as non-monetary gold, NSA statistician-general Alex Shimuafeni said in the latest trade statistics report.

“Fish continued to be the only non-mineral commodity within the top five products exported. On the other hand, the import basket mainly comprised petroleum oils, civil engineering and contractor’s equipment, precious stones (diamonds) as well as motor vehicles for the transportation of goods,” he said.

Shimuafeni said that in March, re-exports increased by 49.2 percent month on month and an increase of 67.7 percent year on year.

“The re-exports basket mainly consisted of precious stones (diamonds), which accounted for 21.5 percent, inorganic chemical elements with a share of 16.7 percent, followed by copper blisters (14.8 percent), Petroleum oils (9 percent) and civil engineering and contractors’ equipment (3.3 percent),” he said.

The analysis for the commodity of the month for March 2022 focused on cheese, said Shimuafeni. “Namibia imported cheese valued at 14.6 million Namibia dollars during the period under review, mostly sourced from South Africa.” Enditem

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