Namibia exported gold worth N$1.47 billion or 16.9% of the total export value of N$8.67 billion in October according to latest data from Namibia Statistics Agency (NSA).
The NSA said the majority of the gold was exported to South Africa.
This comes as during the month under review, the country’s trade balance stood at a deficit of N$7.8 billion, compared to a deficit of N$5.8 billion and N$4.6 billion recorded in September 2024 and October 2023, respectively.
“Non-monetary gold was Namibia’s largest exported commodity in October 2024, accounting for 16.9% of the total export of goods which was predominantly destined for South Africa,” read the NSA’s Merchandise Trade Statistics Bulletin.
The report further says uranium ranked second, contributing 15.3% of exports, with France and the USA as main destinations, valued at N$1.33 billion.
Precious stones (diamonds) took third place at 13.4%, predominantly shipped to Botswana, worth N$1.16 billion.
Meanwhile, fish contributed 11.9%, mostly exported to Spain and Zambia, valued at N$1.04 billion, while nickel ores and concentrates accounted for 4.5%, primarily destined for Canada, valued at N$390 million.
Collectively, these top five commodities made up 62.1% of Namibia’s total export earnings in October.
“Nickel ores and concentrates’ took the fifth position and contributed 4.5 percent to the country’s export earnings and was primarily destined to Canada. The top five export commodities jointly accounted for 62.1 percent of total exports,” the report said.
On the other hand, the leading import commodity was petroleum oils, valued at N$2.18 billion (13.2%) sourced mainly from India, the UAE and Togo.
Copper ores and concentrates and civil engineering equipment each made up 5.8%, sourced from Peru and China, respectively, valued at N$965 million and N$954 million.
Inorganic chemical elements contributed 4.3%, mostly from the Democratic Republic of Congo, valued at N$717 million, while motor vehicles for goods transportation accounted for 3.3%, imported from South Africa and China, valued at N$545 million.
Imports classified as “other commodities” dominated, totaling N$9.55 billion (57.9%).
In addition, goods worth N$2.9 billion were re-exported during the month, reflecting a 36.5% increase from the previous month and a 32.9% rise year-on-year.
Key re-exported commodities included diamonds, nickel ores, copper, petroleum oils and fertilisers.
The manufacturing sector emerged as the leader in exports, contributing 55.8% of total exports valued at N$4.8 billion. This marked an increase of N$579 million compared to September 2024.
The mining and quarrying sector followed with a 39.5% share, despite a decline of N$940 million in export value from the previous month.
Meanwhile, the agriculture, forestry and fishing sector contributed 4.0% to total exports.
