The Namibia Statistics Agency said the mining and quarrying industry exported the most goods valued at N$5,3 billion in December 2023.
The figures are published in the December 2023 Namibia Merchandise Trade Statistics Bulletin.
Precious stones (diamonds) accounted for 35.4% of total exports, of which 2.2% were re-exports predominantly destined for Botswana. Non-monetary gold came second on the list, accounting for 11.2% of the total exports and mainly destined for South Africa.
Uranium, destined for China mainly, took fifth place, contributing 5.5% of the country’s export bill.
Re-exports are commodities imported by residents who assume short-term ownership of the commodities.
Copper and articles of copper were the top five commodities re-exported in December 2023, accounting for 20.9% of the nation’s re-exports.
Most of the re-exports were destined for the Netherlands and Belgium. Petroleum oils followed in second place, and precious stones (diamonds) ranked third, contributing 8.9%.
In December 2023, Namibia’s exports stood at N$11.5 billion and imports at N$11.8 billion, resulting in the country’s trade deficit of N$299 million.
During December 2023, exports decreased by 1.9% from N$11.8 billion recorded in November 2023.
Additionally, an increase of 23.2% from N$9.4 billion registered in December 2022.
The import value decreased by 25% compared to November 2023 and increased by 9.9% compared to December 2022’s record value of N$10.8 billion.
Botswana emerged as the country’s largest export destination, with a share of 35% of all goods exported, followed by South Africa with 17.4%.
Furthermore, Zambia, China, and the Netherlands form part of Namibia’s top five export markets.
The demand side saw South Africa maintaining its position as the country’s largest import source, accounting for 33.6% of total imports into Namibia, followed by India in second position with 10.8% of the market share.
China, Oman, and the United States of America also formed part of Namibia’s top five import markets.
