Weaker uranium exports weigh on trade

Namibia’s trade deficit widened to N$5.9 billion in July as uranium exports fell sharply, contributing to a broader decline in the country’s exports, the Namibia Statistics Agency (NSA) said.

Exports fell to N$10.7 billion in July, from N$12.6 billion a month earlier, while imports stood at N$16.5 billion, according to the agency’s latest International Merchandise Trade Statistics (IMTS).

The deficit was wider than the N$5.4 billion recorded in June and marked a sharp deterioration from the N$17 million trade surplus recorded in July 2025.

Uranium decline

The fall in exports was largely driven by uranium, with exports of the commodity declining by N$2.3 billion from June.

Exports of nickel ores and concentrates fell by N$685 million, while ores and concentrates of base metals declined by N$84 million.

Exports of measuring, checking, analysing and controlling instruments and apparatus fell by N$70 million, while rubber tyre exports declined by N$53 million, the NSA said.

Overall, exports fell by 17.2% month-on-month and were 15.3% lower than in July 2025.

The decline in exports came despite non-monetary gold remaining the largest contributor to Namibia’s export earnings in July, accounting for 17.9% of total exports.

Fish accounted for 14% of exports, while diamonds, nickel ores and concentrates, and uranium also featured among the country’s five largest export commodities.

Imports

Imports dropped 9.7% from June to N$16.5 billion but were still 31.5% above July 2025.

The monthly trade deficit was worsened by a weak export performance and a relatively high import bill which amounted to N$5.9 billion.

Namibia has recorded persistent trade deficits in recent months, with the gap reaching N$5.5 billion in June, according to the NSA.