In the local market this week, the NSX Local index was down 0.02% at 492.5, and the NSX Overall Index was down 5.27% at 1629.3. As at 10 May 2022, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 9.0 billion, followed by FirstRand Namibia Limited with N$ 7.9 billion, Capricorn Group Limited with N$ 6.9 billion and Mobile Telecommunications Limited with N$ 5.6 billion. In terms of volume FirstRand Namibia Limited lead the market with N$ 0.2 million worth of shares traded, with Trustco Group Holdings Limited in second place with N$ 0.1 million worth of shares traded. The local currency lost 1.84% against the US Dollar, to close at N$ 16.11 per USD, and lost 0.40% against the British Pound, to close at N$ 19.85 per GBP. It closed at N$ 19.85 against the Euro, a loss of 1.91%.
The Namibia Statistics Agency released the Trade Statistics Bulletin for March 2022, and revealed that trade during the month decreased by 12.5%, with N$ 15 billion in trade compared to N$ 17.1 billion in February 2022. This is higher than the N$ 12.3 billion recorded in March 2021. Exports decreased by 3.4% to N$ 6 billion, with imports decreasing by 17.7% to N$ 8.9 billion. As a result, the country recorded a trade deficit of N$ 2.9 billion, expanding from the N$ 4.6 billion deficit recorded in Febraury. The decrease in exports was mainly due to Uranium decreasing by N$1.2 billion, Fish decreasing by N$132 million, Printed matter decreasing by N$105 million, Medicinal and pharmaceutical products decreasing by N$69 million, and Non-monetary gold decreasing by N$66 million. The decrease in imports was due to Vessels declining by N$2.5 billion, Inorganic chemical elements declining by N$260 million, Ores and concentrates of base metals declining by N$145 million, Iron and steel bars declining by N$109 million, and Other plastics in primary form declining by N$98 million. South Africa was Namibia’s largest export market (20.8%), as well as Namibia’s largest import market (44.2%). As such, most export goods left via roads (40%), with 58.4% of imports also done via road.