In the local market this week, the NSX Local index was up 1.09% at 492.3, and the NSX Overall Index was down 10.47% at 1417.6. As at 5 July 2022, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 8.3 billion, followed by FirstRand Namibia Limited with N$ 8.2 billion, Capricorn Group Limited with N$ 6.9 billion and Mobile Telecommunications Limited with N$ 6.0 billion. SBN Holdings Ltd lead the market this week, closing at N$ 4.25 per share after growth of 17.6%, with Namibia Asset Management Ltd second, closing at N$ 0.7 after growth of 4.5%. In terms of volume Paratus Namibia Holdings lead the market with N$ 1.3 million worth of shares traded, with Namibia Breweries in second place with N$ 0.9 million worth of shares traded. The local currency lost 2.68% against the US Dollar, to close at N$ 16.51 per USD, and lost 0.77% against the British Pound, to close at N$ 19.74 per GBP. It closed at N$ 19.74 against the Euro, a loss of 0.20%.
The Namibia Statistics Agency released the Trade Statistics Bulletin for May 2022, and revealed that trade during the month decreased by 0.8%, with N$ 15.9 billion in trade compared to N$ 16 billion in April 2022. This is higher than the N$ 10.6 billion recorded in May 2021. Exports decreased by 5.2% to N$ 5.7 billion, with imports increasing by 1.9% to N$ 10.2 billion. As a result, the country recorded a trade deficit of N$ 4.3 billion, expanding from N$ 4.1 billion in April. The decrease in exports was mainly due to uranium decreasing by N$660 million, fish decreasing by N$289 million, ores and concentrates of base metals decreasing by N$141 million, printed matter decreasing by N$71 million, and non-monetary gold decreasing by N$61 million. The increase in imports was due to petroleum oils increasing by N$645 million, copper ores and concentrates increasing by N$643 million, civil engineering and contractors’ equipment increasing by N$270 million, ores and concentrates of precious metals increasing by N$111 million, and sugars, molasses and honey increasing by N$88 million. Botswana was Namibia’s largest export market (22.7%), with South Africa as Namibia’s largest import market (36.4%). As such, most export goods left via airport (36.9%), with 56.1% of imports done via road.