Select Page

Total merchandise trade declines by 14% in January

Total merchandise trade declines by 14% in January

The total merchandise trade amounting to N$ 19.3 billion, a decline of 14% when compared to the levels of N$22.5 billion recorded in December 2021 and an increase of 23.8% when compared to the levels of N$15.6 billion recorded in January 2021, Namibia Statistics Agency said this week.

However, the country’s trade deficit increased to N$4.1 billion from the revised deficit of N$2.5 billion
recorded in December 2021 and N$3.2 billion witnessed in January 2021, Statistician general Alex Shimuafeni said.

According to Shimuafeni, Namibia’s trade composition by partner showed that China emerged as Namibia’s largest export market whereas South Africa maintained her position as the largest source market for the country.

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

On the other hand, Shimuafeni said the import basket was mainly comprised of copper, petroleum oils, copper ores and concentrates; ores and concentrates of precious metals as well as precious stones (diamonds).

“Analysis for the commodity of the month for January 2022 focused on the import of maize grains. Namibia imported maize grains valued at N$100 million mainly from South Africa (96%),” he added.

Meanwhile, for the month under review, re-exports decreased by 31.5% month-on-month, while it
increased by 26.7% year on year.

“The re-exports basket mainly consisted of copper blisters, which accounted for 53.8% mainly sourced from Zambia and DRC,” he concluded.


 

About The Author

Intern

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 at economic and financial institutions. - Ed.