Foreign

South Africa emerges as Namibia’s largest market

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9 Sep 2021 9:03 AM GMT
South Africa emerges as Namibia’s largest market
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Namibia’s trade composition by partner showed that South Africa emerged as Namibia’s largest market for both exports and imports in July 2021.According to trade statistics released Thursday by the Namibia Statistics Agency (NSA), South Africa emerged as the country’s largest export destination, with a share of 20.1 per cent of all goods exported. NSA statistician […]

Namibia’s trade composition by partner showed that South Africa emerged as Namibia’s largest market for both exports and imports in July 2021.
According to trade statistics released Thursday by the Namibia Statistics Agency (NSA), South Africa emerged as the country’s largest export destination, with a share of 20.1 per cent of all goods exported.


NSA statistician general, Alex Shimuafeni, said Spain came second with a share of 15.1 per cent, adding that China, Zambia and the Netherlands formed part of Namibia’s top five export markets.
Shimuafeni said the composition of the export basket mainly comprised minerals such as copper, precious stones (diamonds), non-monetary gold as well as ores and concentrates of base metals.
“As usual, fish remained the only non-mineral product among the top five exports.
“On the other hand, the import basket consisted mainly of copper, petroleum oils, ores of precious metals, precious stones and medicaments.’’


Meanwhile, the demand side saw South Africa maintaining her first position as the country’s largest source of imports, accounting for 44.4 per cent of total imports into Namibia.
This was followed by Zambia in the second position with 8.6 per cent of the market share.
Democratic Republic of the Congo, Bulgaria and China also formed part of Namibia’s top five sources of imports.
The July 2021 exports decreased by 28 per cent year on year and 49 per cent month on month, whereas imports decreased by 23 per cent year on year and 21 per cent month on month.

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