Namibia imported paper and paperboard of all shapes and sizes worth N$119.1 million in November 2024, compared to N$119.5 million in the previous month.
According to the Namibia International Merchandise Trade Statistics Bulletin for November 2024, released by the Namibia Statistics Agency (NSA), this contributed to the improved trade deficit of N$5.5 billion for the month.
According to NSA chief executive Alex Shimuafeni, during November, the country’s trade balance stood at a deficit of N$5.5 billion, compared to N$7.7 billion and N$4 billion recorded in October 2024 and November 2023, respectively.
He says export earnings for November stood at N$12.2 billion, a notable increase of 39% from N$8.8 billion in October.
The import bill for the month under review stood at N$17.7 billion, up 7.2% from N$16.5 billion during the previous month.
The bulletin also noted that Namibia imported N$1.4 million worth of chicks from The Netherlands, South Africa and Zambia, and that soccer balls were the commodity of the month, with the country importing N$600 000 worth, mainly from South Africa and China.
According to the NSA bulletin, Namibia’s cumulative exports over 11 months stood at N$106.4 billion, compared to N$92.3 billion over the same period of the previous year.
The cumulative import value for the 11 months ending in November 2024 was N$148.8 billion, a N$24.3 billion increase from N$124.5 billion over the same period in 2023.
According to the International Standard Industrial Classification of All Economic Activities, the manufacturing sector contributed the most value – N$6.4 billion – to exports in November, accounting for 52.7% of the country’s exports, N$1.6 billion more than in the previous month.
Mining and quarrying came second, with 40.7% of total exports in November, which was N$1.4 billion higher than the previous month. Agriculture, forestry and fishing came third, contributing 6.1% to total exports.
Imports showed the country’s dependency on foreign goods with N$13.7 billion in goods imported in November, an increase of 9.4% from October 2024.
The second-most imported sector was mining and quarrying, with N$3.4 billion, a decrease of 3.3% from the preceding month.
Agriculture, forestry and fishing took third position, with imports worth N$517.2 million during the month under review.
Namibia recorded trade surpluses with Botswana (N$1.7 billion), Belgium (N$1.4 billion) and Zambia (N$512.0 million). Trade deficits were recorded with South Africa (N$4 billion), China (N$1.1billion) and India (N$731.8 million) during the period under review.
Aircraft and associated equipment contributed the most to the trade deficit, valuing N$2.2 billion.
In second place were petroleum oils – contributing N$1.3 billion – followed by motor vehicles for the transportation of goods, posting a deficit of N$615.3 million.
On the other hand, Namibia recorded a trade surplus on uranium amounting to N$2.4 billion. Second and third place were occupied by copper and articles of copper and non-monetary gold, with surpluses of N$1.7 billion and N$1.5 billion, respectively.
China was Namibia’s main export destination, taking 26.8% exports in November, with South Africa second, receiving 17.4%, and Botswana third with 14.3%. Belgium and Zambia were fourth and fifth, respectively, with 12.1% and 9.4%.
Meanwhile, South Africa took the top position as the main source of imports, accounting for 34.9%, followed by China with 24.6% and India with 4.3%.
Zambia and the DRC took the fourth and fifth spots, with 3.6% and 3.2%, respectively.
– email: matthew@namibian.com.na
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