N$2.5 billion in uranium exported in July
China country’s largest export destination
Namibia's July exports were dominated by uranium largely destined for China, the latest trade statistics show.
Namibia exported N$2.5 billion worth of uranium in July alone, the latest trade information by the Namibia Statistics Agency (NSA) has shown.
This also accounts for 25.1% of Namibia’s total exports, or N$10 billion, the NSA said. “The analysis of exports by commodities revealed that uranium had the largest share of the export basket, accounting for 25.1% of Namibia’s total exports ahead of non-monetary gold with 12.6% and fish with a share of 11.9%," it said.
Nickel ores and concentrates accounted for 5.2% of the exports, while precious stones - particularly diamonds - accounted for 5% of total export volumes.
On the contrary, Namibia imported approximately N$2.12 billion in terms of petroleum oils, which accounted for the highest valued commodity with a share of 17.7% of total imports.
“Petroleum oils were the highest valued commodity with a share of 17.7% of total imports, followed by motor vehicles for the transportation of goods and nickel ores and concentrates with shares of 4.7% and 3.7% respectively,” the NSA said.
“Furthermore, civil engineering and contractors, equipment and motor vehicles for the transportation of persons’ accounted for 2.6% and 2.5% of total imports respectively,” it added.
Trade deficit
Meanwhile, Namibia’s trade deficit for July rose to N$2.1 billion, owing to the country's N$12 billion import bill.
“During July 2024, exports decreased by 23.5% from N$13 billion recorded in June 2024 and increased by 21.2% when compared to July 2023. The import value decreased by 12.2% when compared to the value recorded in June 2024 and increased by 1% when compared to the value of N$11.9 billion recorded in July 2023,” the NSA said.
According to the statistics agency, China emerged as the country’s largest export destination with a share of 27.6% of all goods exported, followed by South Africa with 21.4%. Furthermore, Zambia, Botswana and Spain formed part of Namibia’s top five export markets.
“The demand side saw South Africa maintaining her position as the country’s largest source for imports, accounting for 42.1% of total imports, followed by China in second position with 12.2% of the market share. The United Arab Emirates (UAE), India and Zambia also formed part of Namibia’s top five import markets,” the NSA said.
This also accounts for 25.1% of Namibia’s total exports, or N$10 billion, the NSA said. “The analysis of exports by commodities revealed that uranium had the largest share of the export basket, accounting for 25.1% of Namibia’s total exports ahead of non-monetary gold with 12.6% and fish with a share of 11.9%," it said.
Nickel ores and concentrates accounted for 5.2% of the exports, while precious stones - particularly diamonds - accounted for 5% of total export volumes.
On the contrary, Namibia imported approximately N$2.12 billion in terms of petroleum oils, which accounted for the highest valued commodity with a share of 17.7% of total imports.
“Petroleum oils were the highest valued commodity with a share of 17.7% of total imports, followed by motor vehicles for the transportation of goods and nickel ores and concentrates with shares of 4.7% and 3.7% respectively,” the NSA said.
“Furthermore, civil engineering and contractors, equipment and motor vehicles for the transportation of persons’ accounted for 2.6% and 2.5% of total imports respectively,” it added.
Trade deficit
Meanwhile, Namibia’s trade deficit for July rose to N$2.1 billion, owing to the country's N$12 billion import bill.
“During July 2024, exports decreased by 23.5% from N$13 billion recorded in June 2024 and increased by 21.2% when compared to July 2023. The import value decreased by 12.2% when compared to the value recorded in June 2024 and increased by 1% when compared to the value of N$11.9 billion recorded in July 2023,” the NSA said.
According to the statistics agency, China emerged as the country’s largest export destination with a share of 27.6% of all goods exported, followed by South Africa with 21.4%. Furthermore, Zambia, Botswana and Spain formed part of Namibia’s top five export markets.
“The demand side saw South Africa maintaining her position as the country’s largest source for imports, accounting for 42.1% of total imports, followed by China in second position with 12.2% of the market share. The United Arab Emirates (UAE), India and Zambia also formed part of Namibia’s top five import markets,” the NSA said.
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