The local market was reasonably active this week, with the NSX Local index up 0.02% at 455, and the NSX Overall Index down 1.99% at 1292. As at 19 January, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 6.8 billion, followed Capricorn Group by with N$ 6.7 billion, FirstRand Namibia with N$ 6.2 billion and Trustco Group with N$ 5.8 billion. Trustco Group lead the market this week with growth of 9.94% to close at N$ 3.65 per share, with Standard Bank Namibia in second place, growing by 0.87% to close at N$ 6.95 per share. In terms of volume Namibia Breweries lead the market with N$ 3.1 million worth of shares traded, with Trustco Group in second place with N$ 651 thousand worth of shares traded. The local currency gained 1.64% against the US Dollar, to close at N$ 14.96 per USD, and gained 1.92% against the British Pound, to close at N$ 20.39 per GBP. It closed at N$ 18.15 against the Euro, a gain of 2.28%.
The Namibia Statistics Agency released the Trade Statistics Bulletin for November 2020, and revealed that trade during the month was lower by 12.8%, with N$ 17.5 billion in trade compared to N$ 20 billion in October 2020. This is also lower than the N$ 19.1 billion recorded in October 2019. Exports rose by 2.3% to N$ 8 billion from N$ 7.8 billion in October, with imports dropping by 22.4% to N$ 9.5 billion. As a result, the country recorded a trade deficit of N$ 2.4 billion, an improvement of the N$ 4.4 billion deficit recorded in October. China was Namibia’s largest export market (41.3%), while South Africa was Namibia’s largest import market (42.4%). Most export goods left via seaports (55.6%), while 80.4% of imports were done via road.