Namibia imports N$56 billion worth of goods from SA

Namibia imported N$56 billion worth of goods from South Africa between 2021 and 2023, while Namibia only exported N$16 billion worth of goods to South Africa.

This marks Namibia as one of South Africa’s top export and trading partners on the continent.

According to South African high commissioner Thenjiwe Mtintso, Namibia imports 80% of its products from South Africa, whereas Namibia exports 31% of its products to South Africa.

She says South Africa’s main exports to Namibia include vehicles, machinery, pharmaceuticals, processed food, clothing, cement, petroleum, iron and steel. South Africa’s imports from Namibia include beverages, livestock, meat products, fish and minerals.

Speaking at a media briefing yesterday, Mtintso said Namibia is hard at work to improve its fledgling agriculture and manufacturing sectors, with its main objective being to reduce its economic dependence on South Africa, as well as improve its food security.

“Namibia is South Africa’s largest strategic market partner in both Southern African Customs Union and Southern African Development Community regions.

Namibia is among the key trade and investment partners in southern Africa and this is demonstrated by the growing trade volume and value of investments between the two countries, notwithstanding Namibia’s domestic policy of intermittent banning of South African fresh produce.

“Over the past 20 years, a total of 60 foreign direct investment projects from 44 companies were recorded between the two countries. The value of the total investment of US$1,72 billion created over 4 100 jobs for 2022.

The trade balance between South Africa and Namibia is in favour of South Africa,” she said.

Industrialisation and trade minister Lucia Iipumbu, in a previous interview with The Namibian, said South Africa is Namibia’s primary export partner.

Conversely, South Africa is Namibia’s primary import partner.

She said this means Namibia sells a significant portion of its goods to South Africa and buys a substantial amount of products from South Africa, however, South Africa sells more than it buys from Namibia, creating a trade surplus of N$30 billion.

South African president Cyril Ramaphosa last year said Namibia and South Africa should use the opportunities presented by the African Free Trade Area agreement and focus on building stronger trade partnerships.

“There is a need to boost cross-border value chains and we should work on improving the way goods and services move across borders and are transformed into valuable products,” said Ramaphosa.