Namibia's trade deficit dropped by 22.8% to R5.8 billion in the first quarter of this year, down from the R7.6 billion recorded for the same period last year, according to data released by the Namibia Statistics Agency (NSA) last week.
According to the NSA, the decline in the deficit was due to a slight decline in the overall import expenditure this year – a total of R19.4 billion compared to last year’s figure of R20.6 billion.
Namibia's total exports for Q1 were valued at R13.6 billion of which the bulk (R8.6 billion) was exported to Botswana, South Africa, Switzerland and Angola.
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