Namibia’s manufacturing industry sees N$894 million decline in exports
The manufacturing industry, which makes up 48,6% of total exports, experienced a decrease in exports of N$894 million in September.
According to the Namibia Statistics Agency’s latest figures, the industry took the lead in exports, with goods valued at N$3,8 billion, despite the decrease of N$894 million, compared to the previous month.
This was followed by the mining and quarrying industry, which accounted for 44,3% of the export value in September.
Goods from this industry increased by N$1,3 billion compared to the previous month.
Statistician general Alex Shimuafeni says exports mainly comprised minerals such as precious stones.
“Namibia’s exports continued to show a positive trend, reaching N$74,9 billion for the first nine months of 2023, an increase from N$70 billion during the same period in 2022.
“Exports mainly consisted of diamonds, uranium, non-monetary gold, and petroleum oils,” he says.
Exports left Namibia primarily by air (34,9%), followed by sea (34,2%) and road (30,9 %).
In September 2023, exports increased by 5,3%, compared to August 2023.
However, when compared to September 2022, exports decreased by 11,2%.
Import trends
According to Shimuafeni, the manufacturing industry was the dominant sector, with an import bill of N$7,9 billion in September 2023 – a 10,7% decrease from the previous month.
“Namibia’s top five export markets in September 2023 accounted for 64,4% of total exports, with South Africa as the primary destination (20,6%), followed by Botswana (19,2%), China (9,8%), Zambia (8,1%), and the United Arab Emirates (6,7%),” he says.
Imports into Namibia were predominantly through road transportation (58,4%), followed by sea transport (38,6%) and air transport (2,9%).
Imports in September 2023 stood at N$11,1 billion, marking a 9,6% decrease compared to the previous month, and a 2,2% decrease year on year.
South Africa remained Namibia’s primary trading partner for both exports and imports.
Commodity of the month
The commodity of the month in September 2023 was fresh dates, with exports valued at N$2,6 million to South Africa and Bangladesh, averaging N$10,3 million monthly from September 2022 to September 2023.
“Namibia exported fresh dates worth N$2,6 million and imported the commodity at a mere N$31 038 during September 2023,” Shimuafeni says.
Namibia’s trade balance was at a deficit of N$3,3 billion, which is an improvement compared to the N$4,9 billion deficit in August 2023 and the N$2,6 billion deficit in September 2022.
The Southern African Customs Union was the largest export market for Namibia, contributing 39,8% to total exports in September 2023.
The Organisation for Economic Cooperation and Development came second with a market share of 25,2%.
