In the local market this week, the NSX Local index was up 0.04% at 522.3, and the NSX Overall Index was up 0.89% at 1693. As at 7 March 2023, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 9.5 billion, followed by FirstRand Namibia with N$ 9.0 billion, Capricorn Group with N$ 7.2 billion and Mobile Telecommunications with N$ 5.3 billion. Agra lead the market this week, closing at N$ 2.91 per share after growth of 1.7%, with FirstRand Namibia second, closing at N$ 33.57 after growth of 0.1%. In terms of volume Namibia Breweries lead the market with N$ 0.6 million worth of shares traded, with Capricorn Group in second place with N$ 0.5 million worth of shares traded. The local currency lost 0.67% against the US Dollar, to close at N$ 18.43 per USD, and gained 0.95% against the British Pound, to close at N$ 21.80 per GBP. It closed at N$ 19.45 against the Euro, a loss of 0.42%.
The Namibia Statistics Agency released the Trade Statistics Bulletin for January 2023, and revealed that the trade deficit during the month increased by 129.9%, with a N$ 2.9 billion trade deficit compared to N$ 1.2 billion in December 2022. This is lower than the N$ 4.1 billion deficit recorded in January 2022. Exports decreased by 24.7% to N$ 7 billion, with imports decreasing by 5.9% to N$ 10 billion. The decrease in exports was mainly due to exports of precious stones (diamonds) decreasing by N$2.0 billion, fruit and nuts decreasing by N$662 million, ores and concentrates of base metals decreasing by N$253 million, petroleum oils decreasing by N$159 million, and motor vehicles for the transportation of goods decreasing by N$102 million. The decrease in imports was mainly due to imports of aircraft and associated equipment decreasing by N$260 million, precious stones decreasing by N$248 million, fertilizers decreasing by N$211 million, telecommunications equipment decreasing by N$157 million, and inorganic chemical elements decreasing by N$122 million. South Africa was Namibia’s largest export market (27.9%), as well as Namibia’s largest import market (35.9%). Namibia’s seaports accounted for the majority of exports (46.9%), with imports done equally via road and seaport (47.9% each).
