40% of total exports service Chinese market – Trade statistics
Namibia exported 40.1% of its goods to China according to the latest Namibia Statistics Agency trade statistics for July show.
NSA Statistician-General Alex Shimuafeni in an announcement on trade statistics said that South Africa claimed the second spot with 18.3% of the total exports, while countries like Belgium had (6%), Spain (5.9%), and Zambia (5.2%) also made it to the top five export destinations.
According to the statistics, Namibia’s exports in July were down to N$5.9 billion which are 23%t lower than N$7.6 billion in July 2019.
Shimuafeni said that exports were dominated by non-ferrous metal, fish, ores, metal scraps, non-monetary gold, and inorganic chemicals among others.
Meanwhile, during the period under review, Namibia’s imports were mainly supplied by South Africa (37.4%), Zambia (14.8%), DRC (7.4%), Chile (6.2%), and Bulgaria (5.2%).
The import basket comprised mainly of non-ferrous metals, metalliferous ores and metal scrap; petroleum and petroleum products; vehicles and inorganic chemicals.
Shimuafeni said the month of July 2020 saw Namibia’s total merchandise trade totaling N$15.3 billion, which was 4.6% higher than N$14.7 billion recorded in June 2020 and lower by 12.2% when compared to its level of N$17.5 billion recorded in July 2019.
Meanwhile, the country recorded a trade deficit of N$3.5 billion compared to a surplus of N$270 million recorded in June 2020 and a deficit of N$2.2 billion recorded in July 2019, he said.