Select Page

Namibia’s current account recorded surplus during the first quarter of 2019

Namibia’s current account recorded surplus during the first quarter of 2019

The country’s current account recorded a surplus of N$1.1 billion during the first quarter of 2019, from a deficit of N$1 billion in the corresponding quarter of the previous year, according to the Bank of Namibia’s quarterly bulletin.

The surplus was mainly as a result of the significant narrowing in the merchandise trade deficit. This was largely driven by the substantial decline in the values of merchandise imports and, to a lesser extent, the increase in export earnings, the central bank said.

According to the bulletin the stock of foreign reserves held by Bank of Namibia increased due to the impact of the second tranche of the African Development Bank loan, coupled with exchange rate revaluations.

This resulted in an import cover of 5.4 months at the end of the first quarter of 2019.

Meanwhile, the country’s International Investment Position recorded a net liability of N$11.8 billion at the end of the first quarter of 2019, a lower position compared to a year earlier.

According to the bank, the Namibia Dollar depreciated against all major trading currencies due to tighter global financial conditions, financial market volatility, trade wars and Brexit negotiations, as well as sustained uncertainty regarding land expropriation in South Africa.


About The Author


The Economist accommodates two interns every year, one per semester. They are given less demanding, softer issues to hone their skills, often with a specific leaning to social issues. Today, many of our interns are respected journalists or career professionals for economic and financial institutions. - Ed.

Windhoek – Flat to let near central business district

One Bedroom flat for single tenant

Separate bedroom, separate bathroom, combined kitchen and lounge

Secure yard with one inside parking bay

Parking bay under shade netting

Walking distance from the CBD

One block away from Wernhil Shopping Mall

Quiet street – G4S security

Water included, electricity excluded

Monthly rent: N$5408.00 excluding electricity

Deposit: N$2600

Available from 01 August 2019

To view please contact Mrs Don Camm

Tel: 061 221925