Mining Index drops despite production increase

The Namibia Statistics Agency earlier this week released their latest sectoral reports on the different industries that include, mining, buildings, electricity, livestock and tourism.
The overall mining production index decreased to 83,4 points in August from 83,9 points recorded in July. This shows a decline of 0,5 points or 0,6% month on month and a decline of 11,4 points or 12% year on year, the Agency said.
“The decline in overall mining production in August can be attributed to zinc and copper that recorded the declines in production. However, diamond, uranium and gold recorded increases in production,” NSA said. “Despite the labour unrest, diamond production index stood at 77.9 in August increasing by 2.1 points which represents an increase of 2.8% month on month, while year on year increased by 4.7 points signifying an increase of 6.5%,” the Agency added. The composite livestock marketed index for August stood at 76,7 points when compared to 108,6 points recorded in August 2013, representing a decline of 29,8% and remained unchanged on a month on month basis. Said NSA, “on average the composite livestock marketed index stood at 87,8 points in 2014, a decline of 20,3% year on year. Since January 2014, on average, the cattle marketed index stood at 78,1, a decline of 38,7% year on year. The total number of livestock marketed in August stood at  97,2, an increase of 1,5% on a month on month basis.” Since there is a construction boom in the country, NSA sectoral reports also touched on buildings. The index of buildings completed index stood at 154 points in August, when compared to 137 points recorded in August 2013, representing an increase of 12% year on year and a decline of 51,4% month on month. This is the second highest index recorded in the past twelve months, the highest was in July with 316 points and third highest in February.

Meanwhile, the electricity sales index consisting of domestic and export sales of electricity, has remained largely unchanged over the past year, moving between the level of 100 and 120. The electricity sales index for August stood at 116 points. This represents a decrease of four basis points month on month while year on year the index is up by 0,6 basis points, translating to a 3,2% decline and 0,5% increase, respectively. The electricity sales took a plunge in the month of August 2014 which was mainly pushed by the domestic sales that declined by 3,3% when compared to July. The tourism sector index (bed and rooms), occupancy rate indices have shown positive trends since January, with the two indices standing at 158 and 156 in August. “This is the first highest indices recorded in the past twelve months. The two indices are up 13.6% and 26.8% year on year and 10.8% and 10.3% month on month respectively,” said the Agency. Meanwhile NSA said the index levels for both regional and international arrivals and departures continues to expand. “More passenger arrivals than departures in August 2014. Arrivals stood at 37 366 and departures at 36 818 compared to arrivals and departures at 37 439 and 35 183 year on year,” the agency said.