Erasmus Shalihaxwe
Among the top five export products in April, diamonds topped the list, accounting for 17.3 percent of the total export of goods, of which 4.3 were re-exports and were predominantly destined for Botswana, the United Arab Emirates, and Belgium.
The Namibia International Merchandise Trade Statistics Bulletin for April 2024, released by the Namibia Statistics Agency (NSA) on Tuesday, indicates that uranium came in second on the list, accounting for 13.4 percent of the total exports, and was mostly destined for China.
Fish took third place, contributing 13.2 percent, and it was mainly destined for Spain, Zambia, and Mozambique. Non-monetary gold stood in fourth place on the list, accounting for 10.6 percent of the total exports and destined for South Africa.
Petroleum oils took the fifth position and contributed 6.1 percent to the country’s export earnings, of which 5.5 were re-exports. Petroleum oil was mostly destined for Botswana, the UAE, and Zambia. Together, the top five export commodities accounted for 60.6 percent of total exports.
The NSA also reported that residents assume short-term ownership of the top five re-export products or commodities without undergoing any significant industrial transformation. Even though there are no large transformations, re-exports are capable of benefiting the intermediate country by providing services such as sorting, re-packaging, storage, transport, and trade mediation. This implies that re-export activities greatly benefit the country’s service sector.
Re-exports in April 2024 totalled N$3.3 billion, up 2.6 percent month over month and 17.5 percent year over year.
“The top five commodities re-exported in April 2024 were ‘Salts and peroxy salts, occupying the first position with a share of 17.7 percent of total re-exports, which were primarily destined for the DRC and Zambia. Petroleum oils followed in second place with a share of 16.1 percent, mainly destined for Botswana, the United Arab Emirates, and Zambia.
Copper and copper articles, as well as inorganic chemical elements, ranked fourth and fifth, respectively, with a share of 11.1 percent and 6.3 percent.
According to the NSA, copper and copper articles were primarily intended for Belgium, while inorganic chemical elements were mainly intended for China.
The statistics also show that the top five commodities imported into Namibia jointly accounted for 31.5 percent of total imports.
Petroleum oils topped the list of imported goods for April 2024, accounting for 15.8 percent of total imports.
The second and third positions were copper ores and concentrates and precious stones, with shares of 6.7 percent and 3.3 percent, respectively.
“Nickel ores and concentrates’ and civil engineering and contractors’ equipment’ ranked fourth and fifth positions on the list, accounting for 3.0 percent and 2.7 percent of total imports, respectively,” reads the statistics.
