In the local market this week, the NSX Local index was down 1.25% at 467.7, and the NSX Overall Index was up 4.59% at 1587. As at 9 August 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$ 8.0 billion, Capricorn Group Limited with N$ 5.7 billion and Mobile Telecommunications Limited with N$ 5.6 billion. Trustco Group Holdings Limited lead the market this week, closing at N$ 0.61 per share after growth of 52.5%, with Agra Ltd second, closing at N$ 2.46 after growth of 0.8%. In terms of volume FirstRand Namibia Limited lead the market with N$ 2.9 million worth of shares traded, with Namibia Breweries in second place with N$ 0.8 million worth of shares traded. The local currency gained 1.28% against the US Dollar, to close at N$ 16.60 per USD, and gained 2.05% against the British Pound, to close at N$ 20.04 per GBP. It closed at N$ 20.04 against the Euro, a gain of 0.87%.
The Namibia Statistics Agency released the Trade Statistics Bulletin for June 2022, and revealed that trade during the month decreased by 1.7%, with N$ 18.4 billion in trade compared to N$ 118.8 billion in May 2022. This is higher than the N$ 15.3 billion recorded in June 2021. Exports increased by 26% to N$ 8.0 billion, with imports decreasing by 15.9% to N$ 10.5 billion. As a result, the country recorded a trade deficit of N$ 2.5 billion, shrinking from N$ 6.1 billion in May. The increase in exports was mainly due to Uranium increasing by N$1.2 billion, Copper ores and concentrates increasing by N$211 million, Petroleum oils increasing by N$152 million, Ores and concentrates of base metals increasing by N$142 million, and Precious stones(diamonds) increasing by N$98 million. The increase in imports was due to Copper ores and concentrates decreasing by N$1.5 billion, Ores and concentrates of precious metals decreasing by N$590 million, Sulphur and unroasted iron pyrites decreasing by N$451 million, Sugars, molasses and honey, decreasing by N$174 million, and Civil engineering and contractors’ equipment, decreasing by N$89 million. Botswana was Namibia’s largest export market (19.6%), with South Africa as Namibia’s largest import market (35.3%). Most export goods left via seaport (39.5%), with 52.2% of imports done via road.