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Namibia imports pharmaceutical products worth N$100 million in August

Namibia imports pharmaceutical products worth N$100 million in August

The country imported medicinal and pharmaceutical products worth N$102 million in August 2022, the Namibia Statistics Agency reported.

The value of this product exported from Namibia was much lower at N$5.9 million, destined mostly for South Africa and Angola.

Imports of the commodity were mostly sourced from South Africa and Belgium.

Meanwhile, during August, the country’s trade balance remained in a deficit worsening slightly by 2.1% and 9.8% from N$2.9 billion recorded in July 2022 and N$2.7 billion observed in August 2021, respectively.

Namibia’s trade composition by partner showed that Botswana emerged as Namibia’s largest market for exports whereas South Africa was the main source of imports

“The composition of the export basket for the month of August 2022 mainly comprised minerals such as precious stones (diamonds), uranium, non-monetary gold, and petroleum oils. Fish continued to be the only non-mineral commodity within the top five products exported,” Statistician-General Alex Shimuafeni said.

On the other hand, Shimuafeni noted the import basket mainly comprised petroleum oils, precious stones(diamonds), sugars, molasses and honey, miscellaneous chemical products, and motor vehicles for the transportation of goods.


About The Author

Donald Matthys

Donald Matthys has been part of the media fraternity since 2015. He has been working at the Namibia Economist for the past three years mainly covering business, tourism and agriculture. Donald occasionally refers to himself as a theatre maker and has staged two theatre plays so far. Follow him on twitter at @zuleitmatthys