Namibia has recorded a trade deficit of N$3.9 billion in August, according to the Namibia Statistics Agency. The country's exports amounted to N$12.7 billion, while imports were higher at N$16.6 billion. This represents an improvement in the trade balance compared to the N$5.9 billion deficit recorded in July 2026. The trade deficit has been a concern for the country, with a N$5.3 billion deficit recorded in the same month of the previous year.
The Namibia Statistics Agency's statistician general and chief executive officer, Alex Shimuafeni, attributed the improved trade balance to increased exports and decreased imports. He noted that France emerged as the country's largest export destination, driven by uranium exports. South Africa continued to be the leading source of imports. The country's export basket in August 2026 was largely dominated by mining products, particularly uranium, non-monetary gold, diamonds, and nickel ores and concentrates.
Fish was the only non-mineral commodity among the top five export products. Re-exports declined by 2.4% monthly but increased by 24.3% compared to August 2025. The re-export basket consisted mainly of nickel ores and concentrates, petroleum oils, 'sulphur and unroasted iron pyrites', fertilizers, and other crude minerals. This indicates a significant role for re-exports in the country's trade balance.
The import basket was dominated by petroleum oils, nickel ores and concentrates, 'sulphur and unroasted iron pyrites', commercial motor vehicles, and 'mechanical handling equipment and their parts'. This suggests that the country's imports are driven by industrial and transportation needs. A detailed analysis of trade in food and beverages indicated that Namibia was a net exporter of food products.
Namibia recorded a trade surplus of N$773 million in food products, as food exports exceeded imports. In contrast, Namibia was a net importer of beverages, with beverage imports surpassing exports, resulting in a trade deficit of N$193 million. This indicates a mixed performance in the country's food and beverage trade.
The August report focused on 'Poultry and poultry products' as the commodity of the month. Namibia exported poultry and poultry products valued at N$49 million, with the DRC, Zambia, and Botswana serving as the main export destinations. On the demand side, the country imported poultry and poultry products worth N$53.4 million, primarily sourced from Brazil, South Africa, and the United States of America.
The country's trade performance is a critical aspect of its economic development. The Namibia Statistics Agency's report provides valuable insights into the country's trade trends and patterns. The agency's data and analysis will inform policy decisions aimed at improving the country's trade balance and promoting economic growth.
Key points
- Namibia's trade deficit improved to N$3.9 billion in August, driven by increased exports and decreased imports.
- The country's export basket was dominated by mining products, particularly uranium, non-monetary gold, diamonds, and nickel ores and concentrates.
- Namibia was a net exporter of food products, recording a trade surplus of N$773 million.
