Namibia’s trade balance recorded a deficit of R10.5 billion during the third quarter of this year – up 103% from R5.2 billion recorded during the same quarter last year.
According to data released this week by the Namibia Statistics Agency (NSA), the country’s key export markets during that period were Botswana, South Africa, Switzerland, China and Spain. Namibia's imports were mainly sourced from South Africa, China, Democratic Republic of Congo, Zambia and Mozambique.
Diamonds, fish, copper cathodes, copper ore and zinc were the major revenue earners in terms of exports.
The NSA said in a statement that the widening deficit continued to underscore Namibia's dependence on imports, and the country’s vulnerability to any slowdown in supply from its largest trading partner, South Africa.
