The local market was active this week, with the NSX Local index down 0.56% at 463, and the NSX Overall Index up 1.64% at 1436. As at 5 October, FirstRand Namibia was the largest local company on the exchange, with market capitalization of N$ 7.8 billion, followed by Namibia Breweries with N$ 7.1 billion, Capricorn Group with N$ 7 billion and Standard Bank Namibia with N$ 3.4 billion. Trustco Group lead the market this week with growth of 43.29% to close at N$ 2.35 per share, with Capricorn Group in second place, closing at N$ 13.47 after growth of 4.99%. In terms of volume Capricorn Group lead the market with N$ 5 million worth of shares traded, with FirstRand Namibia in second place with N$ 3.6 million worth of shares traded. The local currency gained 0.4% against the US Dollar, to close at N$ 15.04 per USD, and lost 0.29% against the British Pound, to close at N$ 20.49 per GBP. It closed at N$ 17.43 against the Euro, a gain of 1.15%.
The Namibia Statistics Agency released the Trade Statistics Bulletin for August 2021, and revealed that trade during the month increased by 27.1%, with N$ 17.1 billion in trade compared to N$ 13.4 billion in July 2021. This is also higher than the N$ 16.5 billion recorded in August 2020. Exports increased by 41.5% to N$ 7.1 billion from N$ 5 billion in July, with imports increasing by 18.5% to N$ 10 billion from the N$ 8.4 billion in July. As a result, the country recorded a trade deficit of N$ 2.9 billion, narrowing from the N$ 3.5 billion deficit recorded in July. China was Namibia’s largest export market (29.6%), while South Africa was Namibia’s largest import market (40.3%). Most export goods left via seaports (56.6%), while 69.8% of imports were done via road. They also noted that during the months of July and August, imports of coffins surged to N$ 7 million and N$ 8 million respectively, from an average of N$ 1.9 million for the 10 months prior to that, as a result of the impact of COVID-19.