Botswana dominates Namibia’s export bill in December
The country’s trade balance in December 2022, remained in a deficit though it improved by a notable 59.5% (month-on-month) and 49.9% (year-on-year) from N$2.8 billion recorded in November 2022 and N$2.3 billion observed in December 2021, respectively, the statistics agency said Thursday.
According to the latest trade statistics, Namibia’s trade composition by partner showed that Botswana emerged as Namibia’s largest market for exports whereas South Africa maintained its position as the main source of imports.
The composition of the export basket for December 2022 mainly comprised minerals such as Precious stones (diamonds), Uranium, and Non-monetary gold. Fish and ‘Fruits and nuts’ were the only non-mineral commodities within the top five products exported.
On the other hand, the NSA said the import basket mainly comprised petroleum oils, precious stones (diamonds), Motor vehicles for the transportation of goods, fertilizers, and telecommunications equipment.
Meanwhile, in December 2022, re-exports decreased by 23.5% month-on-month and increased by 27.3% year-on-year. The re-exports basket mainly comprised Precious stones (diamonds), Petroleum oils, and Printed matter.
Focusing on a particular commodity, the NSA focused on both the exportation and importation of
For the month of December 2022, Namibia imported sanitary pads worth N$4.5 million mostly sourced from South Africa and Spain whereas, on the export side, Namibia exported Sanitary pads worth N$0.1 million.