Trade dynamics highlight China as top export market and South Africa as main supplier
Recent data on Namibia’s trade composition by partners revealed that China has emerged as the country’s largest market for exports, while South Africa remains its primary supplier.
According to the latest trade statistics from the Namibia Statistics Agency (NSA), the trade landscape for January 2024 showcased a significant reliance on mineral exports, with uranium, precious stones (diamonds), non-monetary gold, and petroleum oils dominating the export basket. Interestingly, fish stood as the sole non-mineral product among the top five exported items.
However, the month witnessed a decline in re-exports, dropping by 6.6% month-on-month and 2.8% year-on-year. The re-export basket mainly comprised copper and articles of copper, petroleum oils, and civil engineering and contractor equipment.
Conversely, the import basket was primarily dominated by copper ores and concentrates, petroleum oils, inorganic chemical elements, civil engineering and contractor equipment, and motor vehicles for the transportation of goods.
Meanwhile, a closer analysis of the commodity of the month, the NSA revealed that Namibia imported bread and biscuits worth N$22.9 million, while exports of the same product amounted to only N$36,730, primarily consisting of re-exports.
