The local market was quiet this week, with the NSX Local index flat at 479, and the NSX Overall Index up 1.52% at 1112. As at 11 August, Trustco Group was the largest local company on the exchange, with market capitalization of N$ 10.4 billion, followed by Namibia Breweries with N$ 7.1 billion, Capricorn Group with N$ 6.4 billion, and FirstRand Namibia with N$ 6.1 billion. Trustco Group lead the market this week with growth of 30% to close at N$ 6.50 per share. In terms of volume Trustco Group again lead the market with N$ 1.4 million worth of shares traded, with Namibia Breweries in second place with N$ 421 thousand worth of shares traded. The local currency lost 0.46% against the US Dollar, to close at N$ 17.46 per USD, and lost 0.35% against the British Pound, to close at N$ 22.78 per GBP. It closed at N$ 20.50 against the Euro, a gain of 0.09%.
The Namibia Statistics Agency released the Trade Statistics Bulletin for June 2020, and revealed that trade during the month was lower by 12.2%, with N$ 14.1 billion in trade compared to N$ 16.1 billion in May 2020. This is also lower than the N$ 15.5 billion recorded in June 2019. Exported declined by 3.9% to N$ 7.2 billion from N$ 7.4 billion in May, with imports dropping by 19.5% to N$ 6.9 billion. As a result, the country recorded a trade surplus of N$ 324 million, the second time a surplus was recorded this year. China was Namibia’s largest export market (29.3%), while South Africa was Namibia’s largest import market (46.7%). Most export goods left via seaports (39.7%), while 79.4% of imports were done via road.