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.