Copper, uranium, drive exports for November

The export of copper and uranium in Namibia has exceeded the billion-dollar threshold, with copper exports rising by N$1.3 billion and uranium exports increasing by N$1.1 billion, according to the Namibia Statistics Agency (NSA).Additionally, precious stones, particularly diamonds, saw a significant increase of N$718.9 million, while fruits and nuts rose by N$470.8 million. Inorganic chemical elements also contributed to the growth with an increase of N$190.6 million.On the import side, the NSA reported a notable rise in the monthly import of goods, primarily driven by aircraft and associated equipment, which surged by N$2.2 billion. Precious stones also saw an increase of N$653.9 million, followed by nickel ores and concentrates at N$301.8 million. Heating and cooling equipment rose by N$188.6 million, and ores and concentrates of base metals increased by N$186.2 million.“In November 2024, the manufacturing sector occupied the first position with the largest goods export valued at N$6.4 billion, absorbing 52.7% of the country’s total export earnings,” the NSA said. “Products from this industry increased by N$1.6 billion when compared to the previous month. The mining and quarrying sector came in second position with a share of 40.7% of the total exports in November 2024,” the agency added.The manufacturing industry reported the highest increase in goods exported according to the NSA. “Exported goods from this industry increased by N$1.4 billion when compared to the previous month. Furthermore, the agriculture, forestry, and fishing sector ranked third, contributing 6.1% to the value of total export of goods,” the NSA noted.Namibia’s cumulative exports over an eleven-month period reached N$106.4 billion, compared to N$92.3 billion recorded during the same timeframe last year.“During November 2024, Namibia’s export earnings stood at N$12.2 billion, a notable increase of 39.0 percent from N$8.8 billion recorded in October 2024. Whereas, the import bill for the month under review stood at N$17.7 billion, an increase of 7.2 percent from N$16.5 billion recorded during the preceding month. This translates into an improved trade deficit of N$5.5 billion during November 2024 compared to a trade deficit of N$7.7 billion recorded in October 2024,” the NSA said. “On the import side, the cumulative value for the month under review over the eleven-month period amounted to N$148.8 billion, a N$24.3 billion increase when compared to N$124.5 billion recorded over the same period of 2023,” it added.

Copper, uranium, drive exports for November

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