Gold and uranium were the main drivers of Namibia’s export earnings in November, with mining activities generating a combined N$4.8 billion, according to the Namibia Statistics Agency (NSA).
In its latest trade report, the NSA said non-monetary gold accounted for N$2.1 billion in export revenue, while uranium and thorium ores and concentrates earned N$1.9 billion. Precious stones, mainly diamonds, contributed a further N$744 million.
The report said the mining and quarrying sector was the second-largest contributor to the export basket, accounting for 42.3% of total exports, although this represented a decline of N$3.1 billion month-on-month.
“The top 10 traded commodities highlight the country’s dependence on mineral exports, with non-monetary gold, uranium and diamonds emerging as the top sources of export revenue, underscoring Namibia’s wealth and opportunities in the extractive industry,” the report said.
On the import side, mining and quarrying-related imports increased slightly to N$3.3 billion. Major imports included petroleum oils valued at N$1.9 billion, motor vehicles for commercial use at N$520 million, and vehicles for passenger transport at N$338 million.
Despite the rise in imports, Namibia recorded trade surpluses in several key mineral categories, including non-monetary gold at N$2.1 billion, uranium at N$2.0 billion and diamonds at N$974 million.
The report showed that Namibia exported goods to 97 countries during the month, while imports were sourced from 163 markets, reflecting ongoing efforts to diversify trade partners.
Sea transport accounted for the largest share of exports, valued at N$3.9 billion, mainly comprising uranium and base metals. Road transport handled the bulk of imports, amounting to N$9.1 billion, driven largely by vehicles, nickel and base metal products.
“Exports to SACU mainly consist of non-monetary gold as the commodity with the highest export value. BRIC+ markets were supplied mainly with uranium, precious stones and ores and concentrates of base metals, while exports to SADC excluding SACU were dominated by fish, petroleum oils and fertilisers,” the report said.
