#JustIn: N$2bn trade deficit in July
Namibia’s exports stood at N$10 billion in July and imports at N$12 billion, resulting in the country’s trade deficit of about N$2 billion.
Exports decreased by 23.5% from the N$13 billion recorded in June and increased by 21.2% compared to July 2023, the Namibia Statistics Agency said this morning.
The import value decreased by 12.2% compared to the value recorded in June and increased by 1% compared to the N$11.9 billion recorded in July 2023.
China emerged as Namibia’s largest export destination, with a share of 27.6% of all goods exported, followed by South Africa with a share of 21.4%.
Furthermore, Zambia, Botswana and Spain were part of Namibia’s top five export markets. On the demand side, South Africa maintained its position as the country’s largest source for imports, accounting for 42.1% of total imports into Namibia, followed by China in second position with 12.2% of the market share.
The United Arab Emirates, India and Zambia also formed part of Namibia’s top five import markets.
Exports decreased by 23.5% from the N$13 billion recorded in June and increased by 21.2% compared to July 2023, the Namibia Statistics Agency said this morning.
The import value decreased by 12.2% compared to the value recorded in June and increased by 1% compared to the N$11.9 billion recorded in July 2023.
China emerged as Namibia’s largest export destination, with a share of 27.6% of all goods exported, followed by South Africa with a share of 21.4%.
Furthermore, Zambia, Botswana and Spain were part of Namibia’s top five export markets. On the demand side, South Africa maintained its position as the country’s largest source for imports, accounting for 42.1% of total imports into Namibia, followed by China in second position with 12.2% of the market share.
The United Arab Emirates, India and Zambia also formed part of Namibia’s top five import markets.
