Zorena Jantze
THE Namibian economy showed signs of moderate growth for the month of September, with the value of exports rising.
This is revealed in the Namibia Statistic Agencies trade statistic bulletin for the month of September.
According to the report, in September 2020, the value of exports improved, rising by 12.1% to N$8.4 billion from its revised level of N$7.5 billion recorded in August 2020.
On a year on year basis, the value of exports improved by 20.0%, compared to its level of N$7 billion obtained in September 2019.
Touching on the trade balance, which compares the country’s trade with the rest of the world in terms of earnings (exports) and expenditure (imports) in September 2020, Namibia’s trade deficit remained at N$1.4 billion as in August 2020 but improved from a deficit of N$1.9 billion in September 2019.
In September 2020, Namibia’s major trading partner in terms of exports did not show much change, maintaining the same countries, such as China, South Africa, Zambia and Botswana as in August 2020, with an addition of Belgium which replaced Spain on the list.
These top five markets absorbed 76.6% of total Namibian exports to the rest of the world.
China emerged as Namibia’s largest export market, while South Africa maintained its position as the number one source of imports for Namibia.
The composition of goods exported remained the same, mainly comprising of minerals such as non-ferrous metals, metalliferous ores and metal scrap, non-metallic mineral manufactures, as well as non-monetary gold.
Fish remained the only non-mineral products among the top five list of exports.
Namibia’s trade by mode of transport shows that in September 2020, the majority of goods exported left the country by sea, accounting for 63.9 % of total exports, followed by air transport with 21.2 % and road transport with 14.9%.
In terms of imports, most goods that entered Namibia came in by road, accounting for 70.1% of total imports, followed by sea at 26.8% and air at 3%.
