The local market was active this week, with the NSX Local index up 0.1% at 614, and the NSX Overall Index down 1.13% at 1274.
As at 3 December, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 10 billion, followed by Trustco Group with N$ 9.7 billion, FirstRand Namibia with N$ 9 billion, and Capricorn Investment Group with N$ 7.9 billion.
Trustco Group lead the market this week, with growth of 4.87% to close at N$ 7.97 per share, with Agra Ltd in second place, growing by 1.25% to close at N$ 1.62 per share.
In terms of volume Namibia Breweries lead the market with N$ 2.2 million worth of shares traded, with FirstRand Namibia in second place with N$ 1.2 million worth of shares traded.
The local currency gained 1.1% against the US Dollar, to close at N$ 14.63 per USD, and gained 0.11% against the British Pound, to close at N$ 19.02 per GBP.
It closed at N$ 16.22 against the Euro, a gain of 0.55%.
The Namibia Statistics Agency released Quarterly Trade Statistics Bulletin for the second quarter of 2019, revealing that exports for the quarter amounted to N$ 23 468 million, while imports amounted to N$ 27 247 million, leaving the country with a trade balance of N$ 3 779 million, down from N$ 5 475 million in quarter 1 of 2019.
The largest deficits in the quarter were with the countries of South Africa and Zambia, amounting to a trade deficit of N$ 8 991 million and N$ 3 678 million respectively, while the largest trade surpluses were recorded with China (N$ 3 418 million), Belgium (N$ 1 742 million), Botswana (N$ 1 250 million) and Spain (N$ 1 218 million).
The persistent trade deficit is mainly due to the country’s high demand for high-priced manufactured good and industrial machinery, while exporting generally low priced raw minerals.