Namibia exported grapes valued at approximately USD 54.4 million in December while importing grapes worth about USD 153,000, predominantly from South Africa. These exports were primarily destined for the Netherlands and the United Kingdom.
According to the Namibia International Merchandise Trade Statistics Bulletin from the Namibia Statistics Agency (NSA), Namibia's export earnings for December 2024 reached USD 840 million, marking a 3.4% increase from November 2024's USD 813 million. The import bill for December stood at USD 847 million, a 28.0% decrease from the previous month's USD 1.17 billion. This resulted in an improved trade deficit of USD 7.9 million, compared to a USD 367 million deficit in November 2024, as stated by NSA chief executive Alex Shimuafeni.
The USD 7.9 million deficit is the lowest recorded in the past year. Namibia's cumulative exports over the 12 months amounted to USD 7.9 billion, compared to USD 6.8 billion in the same period of 2023. On the import side, the cumulative value reached USD 10.7 billion, a USD 1.7 billion increase from USD 9.0 billion in 2023.
In December 2024, the mining and quarrying sector led with exports valued at USD 420 million, contributing 50% to total export earnings. "Exported products from this industry increased by USD 87 million from the previous month," Shimuafeni noted. The manufacturing sector followed with a 41.5% share, though exports decreased by USD 80 million from November. Agriculture, forestry, and fishing ranked third, contributing 8.1% of total exports.
Namibia's import bill for manufactured products in December 2024 stood at USD 607 million, a 33.7% decline from November. The mining and quarrying sector was second with USD 220 million, a 3.9% month-on-month decline. Agriculture, forestry, and fishing imports were valued at USD 21 million.
Namibia experienced trade surpluses with Botswana (USD 140 million), China (USD 120 million), and Zambia (USD 67 million) in December 2024. Conversely, trade deficits were recorded with South Africa (USD 200 million), Oman (USD 37.8 million), and the Democratic Republic of Congo (USD 30.3 million).
Petroleum oils were the largest contributor to the trade deficit, at USD 107 million. Motor vehicles for goods transportation and inorganic chemical elements followed with deficits of USD 23.5 million and USD 22 million, respectively. The NSA noted trade surpluses in uranium (USD 167 million), precious stones (USD 140 million), and non-monetary gold (USD 67 million).
China was Namibia's main export destination, accounting for 22.7% of exports, followed by Botswana (17.5%) and South Africa (12.1%). South Africa was the main source of imports at 35.4%, with China (8.3%) and the DRC (6.4%) trailing.
Source: The Namibian