Namibia’s export earnings rose to N$31.2 billion during the first quarter of 2026, supported by strong uranium shipments and rising mineral exports, according to the latest International Merchandise Trade Bulletin released by the Namibia Statistics Agency.
The country’s cumulative exports increased from N$29.9 billion recorded during the same period in 2025, reflecting improved performance in the mining sector and stronger global demand for key commodities.
March emerged as the strongest trading month of the quarter, with export earnings surging by 99.6% month-on-month to N$13.2 billion.
“Namibia’s 2026 cumulative exports amounted to N$31.2 billion during the month of March 2026, which shows an increase when compared to N$29.9 billion registered over the same period of the previous year,” the report said.
Uranium remained the country’s top export driver during the month, with export earnings increasing by N$3.5 billion compared to February.
Nickel ores and concentrates also recorded significant growth, rising by N$1.1 billion, while non-monetary gold exports increased by N$446 million.
The latest figures highlight the growing importance of Namibia’s extractive industries in supporting export earnings and foreign exchange inflows, particularly amid rising international demand for uranium linked to renewed global interest in nuclear energy.
Despite stronger exports, Namibia continued to record a trade deficit during the first quarter as imports remained elevated.
Cumulative imports reached N$38.6 billion by the end of March, resulting in a trade deficit of N$7.4 billion for the quarter.
However, the monthly trade deficit narrowed to N$2.3 billion in March from N$5.2 billion recorded in February, indicating improved export performance during the month.
Imports continued to be driven by petroleum oils and vehicle purchases.
“The March 2026 figures saw trade deficits recorded on goods such as petroleum oils (N$2.1 billion), motor vehicles for commercial purposes at N$931 million, and motor vehicles for the transportation of persons at N$439 million,” the report said.
On the export side, Namibia recorded strong trade surpluses in uranium, non-monetary gold and fish.
“The country recorded trade surpluses on commodities such as uranium (N$3.5 billion), non-monetary gold (N$2.1 billion), and fish at N$1.4 billion,” the report said.
China remained Namibia’s largest export market during March, largely due to uranium demand, while South Africa continued to dominate as Namibia’s main import source and a key export destination for gold.
“The March 2026 figures show Namibia’s trade surpluses with countries such as China (N$2.2 billion), Canada (N$856 million), and Botswana (N$828 million). On the other hand, the country recorded trade deficits against South Africa (N$2.3 billion), Oman (N$513 million) and Kuwait (N$507 million),” the report said.
