The Namibian Statistics Agency (NSA) says in July 2024, the country’s uranium exports reached N$2.5 billion, accounting for 25.1% of total exports, which totalled N$10 billion for the month.
Uranium emerged as the largest component of Namibia’s export basket, surpassing non-monetary gold, which contributed 12.6%, and fish, which made up 11.9%.
“The analysis of exports by commodities revealed that uranium had the largest share of the export basket, accounting for 25.1% of Namibia’s total exports, ahead of non-monetary gold with 12.6% and fish with a share of 11.9%,” NSA’s Merchandise Trade Report read.
Nickel ores and concentrates made up 5.2% of the exports, while precious stones, primarily diamonds, contributed 5%.
On the import side, NSA reported that Namibia saw approximately N$2.12 billion worth of petroleum oils entering the country, making it the highest-valued commodity with a 17.7% share of total imports.
Following petroleum oils, motor vehicles for the transportation of goods and nickel ores and concentrates accounted for 4.7% and 3.7% of imports, respectively.
“Petroleum oils were the highest valued commodity with a share of 17.7% of total imports, followed by motor vehicles for the transportation of goods and nickel ores and concentrates with shares of 4.7% and 3.7%, respectively,” it is reported.
Additionally, civil engineering and contractors’ equipment, as well as motor vehicles for the transportation of persons, contributed 2.6% and 2.5% of total imports.
In terms of trade partners, China emerged as Namibia’s largest export destination, with 27.6% of all goods exported, and followed by South Africa at 21.4%.
Namibia’s top five export markets also include Zambia, Botswana, and Spain.
Conversely, South Africa remained the leading source of Namibia’s imports, holding a 42.1% share with China in second place at 12.2%.
The United Arab Emirates (UAE), India, and Zambia were also among the top import markets.
“The demand side saw South Africa maintaining her position as the country’s largest source for imports, accounting for 42.1% of total imports, followed by China in second position with 12.2% of the market share. The United Arab Emirates (UAE), India and Zambia also formed part of Namibia’s top five import markets,” the report noted.
