Livestock, meat important contributors to export earnings
16 November 2021 | Agriculture
The livestock and meat industries are some of the most important contributors to Namibia’s gross domestic product, mainly because of the country’s ability to export livestock and world-class beef and mutton products to lucrative markets.
According to the Meat Board of Namibia, for the month of July, Namibia exported N$267 million worth of livestock, meat and meat products out of an export portfolio of N$4.8 billion, accounting for 5.8% of total exports.
It said further increasing exports has the capacity to narrow the current account deficit and will be beneficial to the country’s balance of payments.
Africa’s development partly depends on a reduction of trade transaction costs, which are currently extremely high, the Meat Board said.
It pointed out that Namibia is a small open economy that heavily depends on trading with other countries for economic growth.
“At national level, it is important to look at legal frameworks and how policies can be improved to facilitate the movement of goods between trading partners.”
The Meat Board added that it continues to contribute to the implementation of measures to make trade procedures in the industry simpler, better and faster and rationalised.
“This is with the understanding that trade is in an important driver of economic growth and development in Namibia,” it said.