The local market was active this week, with the NSX Local index up 0.59% at 447, and the NSX Overall Index up 2.9% at 1418. As at 13 July, FirstRand Namibia was the largest local company on the exchange, with market capitalization of N$ 7.3 billion, followed by Capricorn Group with N$ 6.7 billion, Namibia Breweries with N$ 6.6 billion and Standard Bank Namibia with N$ 3.4 billion. Namibia Breweries lead the market this week with growth of 1.76% to close at N$ 31.76 per share, with Namibia Asset Management in second place at N$ 0.66 per share after growth of 1.54%. In terms of volume Namibia Breweries again lead the market with N$14.3 million worth of shares traded, with FirstRand Namibia in second place with N$ 5.7 million worth of shares traded. The local currency lost 2.42% against the US Dollar, to close at N$ 14.73 per USD, and lost 2.52% against the British Pound, to close at N$ 20.35 per GBP. It closed at N$ 17.35 against the Euro, a loss of 2%.
The Namibia Statistics Agency released the Trade Statistics Bulletin for May 2021, and revealed that trade during the month was severely decreased by 37.8%, with N$ 14.1 billion in trade compared to N$ 22.6 billion in April 2021. This is even lower than the N$ 16 billion recorded in May 2020, when Namibia was emerging from its first lockdown. Exports decreased by 51.6% to N$ 5.4 billion from N$ 11.2 billion in April, with imports decreasing by 24.2% to N$ 8.6 billion from the N$ 11.3 billion in April. As a result, the country recorded a trade deficit of N$ 3.2 billion, widening from the N$ 143 million deficit recorded in April. China was Namibia’s largest export market (27.9%), while South Africa was Namibia’s largest import market (43.2%). Most export goods left via seaports (56.9%), while 70.1% of imports were done via road.