In the local market this week, the NSX Local index was up 0.77% at 520.7, and the NSX Overall Index was down 5.05% at 1742.1. As at 8 March 2022, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 9.9 billion, followed by FirstRand Namibia Limited with N$ 7.9 billion, Capricorn Group Limited with N$ 6.8 billion and Mobile Telecommunications Limited with N$ 6.2 billion. Letshego Holdings lead the market this week, closing at N$ 2.5 per share after growth of 58.2%, with Capricorn Group Limited second, closing at N$ 13.15 after growth of 0.5%. In terms of volume Capricorn Group Limited lead the market with N$ 5.0 million worth of shares traded, with Mobile Telecommunications Limited in second place with N$ 4.8 million worth of shares traded. The local currency gained 0.81% against the US Dollar, to close at N$ 15.28 per USD, and gained 2.44% against the British Pound, to close at N$ 20.02 per GBP. It closed at N$ 20.02 against the Euro, a gain of 2.79%.
The Namibia Statistics Agency released the Trade Statistics Bulletin for January 2022, and revealed that trade during the month decreased by 14%, with N$ 19.3 billion in trade compared to N$ 22.5 billion in December 2021. This is higher than the N$ 15.6 billion recorded in January 2021. Exports decreased by 24% to N$ 7.6 billion, with imports decreasing by 6% to N$ 11.7 billion. As a result, the country recorded a trade deficit of N$ 4.1 billion, expanding from the N$ 2.5 billion deficit recorded in December. The decrease in exports was mainly due to copper blisters decreasing by N$1.6 billion, precious stones decreasing by N$609 million, fruit and nuts decreasing by N$420 million, inorganic chemical elements decreasing by N$246 million, and uranium decreasing by N$59 million (-5.7%). The decrease in imports was due to ores and concentrates of precious metals decreasing by N$ 357 million, copper ores and concentrates decreasing by N$ 285 million, copper blisters decreasing by N$253 million, iron and steel bars, rods decreasing by N$136 million, and road motor vehicles decreasing by N$88 million. China was Namibia’s largest export market (32.3%), while South Africa was Namibia’s largest import market (29.9%). Most export goods left via seaports (55.8%), while 68.5% of imports were done via road.
