Chart of the Week

In 2025, China was the leading destination for Namibian exports, accounting for 37.2% of the total export value for the year. Given China's strategic focus on securing supplies of rare earths and energy, uranium, copper, and zinc were the primary commodities exported to China. South Africa, by contrast, received a more diversified basket of goods, including gold, copper cathodes, live sheep, and beer.

Exports to European partners were led by fish, particularly frozen hake, which is imported for further processing, as well as beef, which is mainly destined for the Netherlands. Beyond fish, France alone imported over N$800 million worth of uranium in 2025, reflecting its position as the world’s most nuclear-dependent country. The United Arab Emirates primarily imports diamonds, which are processed into luxury jewelry.

Historically, diamonds have constituted the largest share of Namibia’s exports. However, in 2025, uranium overtook diamonds as the top export due to falling diamond prices and demand, while the opposite occurred for uranium. Uranium ores and concentrates exported that year were valued at over N$7 billion, exceeding diamond export revenues by more than one billion Namibian dollars.

Ida Williams is an economist with Cirrus Capital.