Guest Contributor | Nov 14, 2022 | 0
Merchandise trade decreases to N$15 billion in March
A total merchandise trade amounting to N$15 billion was recorded in March 2022, a decrease of 12.5% when compared to N$17.1 billion in February 2022, according to the Namibia Statistics Agency.
During the month, the country mainly exported minerals such as precious stones (diamonds), inorganic chemical elements, copper blisters as well as non-monetary gold. Fish continued to be the only non-mineral commodity within the top five products exported.
On the other hand, the import basket was mainly comprised of petroleum oils, civil engineering and contractor’s equipment, precious stones (diamonds) as well as motor vehicles for the transportation of goods. Namibia also imported cheese valued at N$14.6 million during the period under review, mostly sourced from South Africa.
The March 2022 trade figure is still better than the figure from a year before, an increase of 22% when compared to N$12.3 billion recorded in March 2021.
“On the contrary, the country’s trade deficit improved to N$2.9 billion from the revised deficit of N$4.6 billion recorded in February 2022 and exacerbated slightly from a deficit of N$2.8 billion witnessed in March 2021,” Statistician General Alex Shimuafeni said.