The local market was active this week, with the NSX Local index down 1.75% at 431, and the NSX Overall Index up 7.17% at 1457. As at 11 May, Capricorn Group was the largest local company on the exchange, with market capitalization of N$ 7 billion, followed by FirstRand Namibia with N$ 6.6 billion, Namibia Breweries with N$ 6.4 billion and Trustco Group with N$ 3.4 billion. Trustco Group lead the market this week with growth of 24.71% to close at N$ 2.12 per share, with Letshego Holdings Namibia in second place at N$ 1.65 per share after growth of 12.24%. In terms of volume Namibia Breweries lead the market with N$ 2.9 million worth of shares traded, with Stimulus Investments in second place with N$ 371 thousand worth of shares traded. The local currency gained 3.24% against the US Dollar, to close at N$ 13.99 per USD, and gained 1.44% against the British Pound, to close at N$ 19.78 per GBP. It closed at N$ 16.99 against the Euro, a gain of 2.17%.
The Namibia Statistics Agency released the Trade Statistics Bulletin for March 2021, and revealed that trade during the month was higher by 4.4%, with N$ 15.7 billion in trade compared to N$ 13.9 billion in February 2021. This is lower than the N$ 16.5 billion recorded in March 2020. Exports increased by 6.3% to N$ 6.5 billion from N$ 5.7 billion in February, with imports increasing by 3.1% to N$ 9.2 billion from the N$ 8.2 billion in February. As a result, the country recorded a trade deficit of N$ 2.6 billion, widening from the N$ 2.4 billion deficit recorded in February. China was Namibia’s largest export market (23%), while South Africa was Namibia’s largest import market (39.3%). Most export goods left via seaports (55.9%), while 74.3% of imports were done via road.