Namibia's Trade Deficit Narrows Sharply in December.
Namibia cut its trade deficit to N$119 million in December 2024, down from N$5.5 billion in November. The Namibia Statistics Agency reported this marked a strong improvement from the N$969 million deficit seen a year earlier.
Trade patterns showed that South Africa remained the main source of imports, and China maintained its position as Namibia's biggest export market.
Mining products led December exports, NSA statistician general Alex Shimuafeni said. Diamonds, uranium, and non-monetary gold topped the list. Fish plus fruits and nuts rounded out the top five exports.
Re-exports fell 4.9% from November but rose 50.1% compared to last year. These shipments mainly included diamonds, copper, nickel ores, petroleum oils, and fertilizers.
The country's main imports included petroleum oils, fertilizers, diamonds, inorganic chemicals, and base metal ores, Shimuafeni said.
Namibia cut its trade deficit to N$119 million in December 2024, down from N$5.5 billion in November. The Namibia Statistics Agency reported this marked a strong improvement from the N$969 million deficit seen a year earlier.
Trade patterns showed that South Africa remained the main source of imports, and China maintained its position as Namibia's biggest export market.
Mining products led December exports, NSA statistician general Alex Shimuafeni said. Diamonds, uranium, and non-monetary gold topped the list. Fish plus fruits and nuts rounded out the top five exports.
Re-exports fell 4.9% from November but rose 50.1% compared to last year. These shipments mainly included diamonds, copper, nickel ores, petroleum oils, and fertilizers.
The country's main imports included petroleum oils, fertilizers, diamonds, inorganic chemicals, and base metal ores, Shimuafeni said.
