CHAMWE KAIRA
Copper ores and concentrates emerged as the largest contributor to the country’s trade deficit, having recorded a deficit of N$1.5 billion in January.
Following in second place was petroleum oils, which posted a deficit of N$1.0 billion, while aircraft and associated equipment ranked third after posting a deficit of N$469 million.
Contrary to the deficits, the country recorded trade surpluses on non-monetary gold amounting to N$1.8 billion.
The second and third places were occupied by uranium and fish, which recorded trade surpluses of N$1.4 billion and N$1.2 billion, respectively; this is according to the Namibia International Merchandise Trade Statistics Bulletin.
The country exported goods to a total of 107 countries compared to 109 export destinations recorded in December 2024.
On the demand side, the country imported goods from 151 countries, two fewer than in December 2024.
Non-monetary gold was Namibia’s largest exported commodity in January 2025, accounting for 17.1% of the total export of goods that was solely destined for South Africa.
Uranium came second on the list, accounting for 13.1% of the total exports, exclusively destined for the US market. Fish occupied the third position, accounting for 11.7% of total exports, with the commodity mainly destined for Spain, Zambia, and Italy. Diamonds ranked fourth on the list, accounting for 8.9%, with the commodity mainly destined for Botswana and the United Arab Emirates.
Copper and copper articles took the fifth position and contributed 6.8% to the country’s total export revenue.
They were primarily destined for Belgium and the United Arab Emirates. The top five export commodities jointly accounted for 57.6% of total exports.
The top 10 traded commodities highlight the country’s dependence on mineral exports, with non-monetary gold and uranium emerging as top export revenue earners, thereby underscoring the country’s wealth in the extractive industry.
The Namibia Statistics Agency said this reliance poses risks due to unpredictable commodity price shocks and fluctuations in the global market. Imports were mainly dominated by essential items such as petroleum oils and ‘copper ores and concentrates,’ thus reflecting dependency on foreign industrial inputs to support domestic activities.
“This composition suggests a need for export diversification and increased domestic production capacity to reduce import dependency while enhancing economic resilience.”
Sea maintains the top position as the most common mode of transport for exports, handling them to the tune of N$5 billion.
This export value represents 46.5% of total exports that left the country.
The basket of exports via sea comprised mainly of uranium and fish.
The second most common mode of transport for exports was air, which accounted for 27.2% of total exports and its export basket was mainly made up of non-monetary gold and diamonds.
Road transportation accounted for 26.4%, with petroleum oils, fish and fertilisers being the highest-valued commodities transported via the respective mode.
