SACU remains Namibia’s largest import partner
Southern African Customs Union country’, Botswana, Eswatini, Lesotho and South Africa, remained the leading source of imports for Namibia, with a total share of 52.9% in March 2020, according to data presented by the Namibia Statistics Agency.
Namibia’s import composition mostly constituted non-ferrous metals which accounted for the largest share of 21.6%, followed by vehicles in a distant second place with a share of 7.2%, while metalliferous ores and metal scrap ranked third with 6.2% of the total, followed by industrial machinery and equipment with a market share of 5.2%. The category of petroleum and petroleum products was in the fifth position with a share of 3.3%.
Per country, South Africa maintained its position as the largest import market for the domestic economy accounting for 50.5% of the value of all goods absorbed into Namibia during the period under review.
Meanwhile, during the period under review, China emerged as Namibia’s largest export market while South Africa continued to lead as the main source of imports.
“The composition of the country’s exports did not change comprising mainly of minerals such as metalliferous ores and metal scrap; non-ferrous metals; non-metallic mineral manufactures; gold, non-monetary with the exception of fish, the only non-mineral product on the top five list of exports,” Statistician-General Alex Shimuafeni said.