CHAMWE KAIRAÂ
Trade activities in the country have been on an upward trajectory since 2020. For the year 2024, exports increased by 15.3% compared to 9% in 2023, while imports increased by 18.5% when compared to 2% in 2023, according to Namibia Statistics Agency trade figures.
Uranium was the top exported commodity in 2024, accounting for 16.8%, whereas precious stones (diamonds) took the second position, contributing 16.2% of the total export value.
In 2024, petroleum oils topped the list of the imported commodities, accounting for 15.5% of the total imports for the country.
Copper ores and concentrates came in second place, accounting for 4.9% of total imports. Motor vehicles for the transportation of goods, ‘nickel ores and concentrates’ and ‘civil engineering and contractors’ equipment’ were among the top five imported commodities.
During 2024, sea transportation was the most used mode of transport, accounting for 45.2% of exports.
This was followed by air and road transportation accounting for 28.7% and 26%, respectively.
On the demand side, road was the main mode of transport utilised in 2024, accounting for 52.8% of total imports, ahead of sea and air transports with respective contributions of 40.9% and 6.2%.
The agency disclosed that South Africa absorbed 19% of all goods exported during the year 2024, followed by China with 17.2%.
Namibia’s top five markets in 2024 included Botswana, Zambia, and Belgium.
On the demand side, the top five import sources for Namibia were South Africa, China, Peru, the United Arab Emirates and India. South Africa topped the list, contributing 36.3% of the total imports during the year under review.
Exports by economic regions indicate that SACU was the main end market for Namibian goods in 2024, accounting for 33.9% of the total exports, followed by the OECD with 26.1%. The EU (19.6%), BRIC (17.9%), and SADC-excluding-SACU (14.9%) formed part of the top five economic regions that the country traded in.
Furthermore, on the demand side, SACU remained the main source for Namibia during the year 2024, increasing by 12.2% from N$53.3 billion recorded the previous year to N$59.8 billion in 2024.
