Namibia’s trade deficit narrows to N$2.9 bil in October
Mineral commodities dominate month's exports
Namibia’s trade balance recorded a deficit of N$2.9 billion in October 2025, an improvement from the N$3.4 billion shortfall reported in September, according to the latest International Merchandise Trade Statistics (IMTS) bulletin released by the Namibia Statistics Agency (NSA).
NSA Statistician General Alex Shimuafeni said the year-on-year deficit stood at N$7.2 billion. Analysis of trading partners showed China as Namibia’s largest export market, while South Africa remained the country’s main source of imports. In September, South Africa had been the top partner for both exports and imports.
The country’s exports in October were dominated by mineral commodities, including uranium, non-monetary gold, diamonds, and copper ores and concentrates. Fish was the only non-mineral product among the top five exports. Re-exports also surged, rising 52.7% month-on-month and 30.4% year-on-year, mainly comprising copper and nickel ores, petroleum oils, diamonds, and fertilizers.
Imports primarily included petroleum oils, fertilizers, diamonds, medicaments, and commercial vehicles. A review of food trade showed Namibia as a net exporter of food (N$89 million) but a net importer of beverages (N$552 million). Pesticides were highlighted in the report, with imports valued at N$48 million—mainly from South Africa and Spain—and exports worth N$57,393 going to Angola and Panama.
Shimuafeni noted that international merchandise trade is key to economic development, connecting producers and consumers globally. Timely trade statistics, he said, are essential for understanding economic performance, informing policy, and analysing employment, production, revenue, and overall welfare.
The report highlighted a gradual strengthening of exports and a slowdown in imports, signalling cautious improvement in the trade balance, though Namibia remains in deficit overall.
NSA Statistician General Alex Shimuafeni said the year-on-year deficit stood at N$7.2 billion. Analysis of trading partners showed China as Namibia’s largest export market, while South Africa remained the country’s main source of imports. In September, South Africa had been the top partner for both exports and imports.
The country’s exports in October were dominated by mineral commodities, including uranium, non-monetary gold, diamonds, and copper ores and concentrates. Fish was the only non-mineral product among the top five exports. Re-exports also surged, rising 52.7% month-on-month and 30.4% year-on-year, mainly comprising copper and nickel ores, petroleum oils, diamonds, and fertilizers.
Imports primarily included petroleum oils, fertilizers, diamonds, medicaments, and commercial vehicles. A review of food trade showed Namibia as a net exporter of food (N$89 million) but a net importer of beverages (N$552 million). Pesticides were highlighted in the report, with imports valued at N$48 million—mainly from South Africa and Spain—and exports worth N$57,393 going to Angola and Panama.
Shimuafeni noted that international merchandise trade is key to economic development, connecting producers and consumers globally. Timely trade statistics, he said, are essential for understanding economic performance, informing policy, and analysing employment, production, revenue, and overall welfare.
The report highlighted a gradual strengthening of exports and a slowdown in imports, signalling cautious improvement in the trade balance, though Namibia remains in deficit overall.
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