Namibia posted a trade deficit of N$2.9 billion (US$170 million) in October, narrowing from the N$3.4 billion (US$2m) shortfall recorded in September, the Namibia Statistics Agency (NSA) has said.
Statistician general Alex Shimuafeni said the latest figures reflected a smaller gap between exports and imports. Year-on-year, the deficit widened to N$7.2 billion (US$423m).
China was Namibia’s biggest export destination for the month, while South Africa remained the main source of imports. In September, South Africa had been the leading market for both categories.
Mining products dominated October exports, led by uranium, non-monetary gold, diamonds and copper ores. Fish was the only major export outside the mining sector. Re-exports surged by 52.7% month-on-month and 30.4% year-on-year, driven by copper and nickel ores, petroleum oils, diamonds and fertilisers.
Imports were largely made up of petroleum oils, fertilisers, diamonds, medicaments and commercial vehicles.
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Shimuafeni said Namibia registered a food trade surplus of N$89 million (US$5m) in October but recorded a beverage trade deficit of N$552 million (US$32m).
