RULES THE ROOST: Uranium was Namibia's most exported commodity in July.Photo: CHAMBER OF MINES OF NAMIBIA
RULES THE ROOST: Uranium was Namibia's most exported commodity in July.Photo: CHAMBER OF MINES OF NAMIBIA

N$2.5 billion in uranium exported in July

China country’s largest export destination
Namibia's July exports were dominated by uranium largely destined for China, the latest trade statistics show.
Ogone Tlhage
Namibia exported N$2.5 billion worth of uranium in July alone, the latest trade information by the Namibia Statistics Agency (NSA) has shown.

This also accounts for 25.1% of Namibia’s total exports, or N$10 billion, the NSA said. “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%," it said.

Nickel ores and concentrates accounted for 5.2% of the exports, while precious stones - particularly diamonds - accounted for 5% of total export volumes.

On the contrary, Namibia imported approximately N$2.12 billion in terms of petroleum oils, which accounted for the highest valued commodity with a share of 17.7% of total imports.

“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,” the NSA said.

“Furthermore, civil engineering and contractors, equipment and motor vehicles for the transportation of persons’ accounted for 2.6% and 2.5% of total imports respectively,” it added.



Trade deficit

Meanwhile, Namibia’s trade deficit for July rose to N$2.1 billion, owing to the country's N$12 billion import bill.

“During July 2024, exports decreased by 23.5% from N$13 billion recorded in June 2024 and increased by 21.2% when compared to July 2023. The import value decreased by 12.2% when compared to the value recorded in June 2024 and increased by 1% when compared to the value of N$11.9 billion recorded in July 2023,” the NSA said.

According to the statistics agency, China emerged as the country’s largest export destination with a share of 27.6% of all goods exported, followed by South Africa with 21.4%. Furthermore, Zambia, Botswana and Spain formed part of Namibia’s top five export 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 NSA said.

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Namibian Sun 2024-11-08

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