Nam trade deficit narrowed in April: SG
13 Jun 2014 15:20pm
WINDHOEK, 12 JUN (NAMPA) The country's trade deficit is estimated to have narrowed to N.dollars 2,2 billion during the month of April this year from 4,1 billion one month earlier.
The Statistician-General of the Namibia Statistics Agency, Dr John Steytler revealed this on Thursday whilst releasing the countrys monthly trade statistics bulletin for April 2014.
This figure is however still much higher than the deficit of N.dollars 1 billion that was recorded during April 2013.
This narrowing trade deficit was brought about by the strong decline in imports of 32,1 per cent to N.dollars 5,7 billion from N.dollars 8,4 billion one month earlier, said Steytler.
The decline in imports, in turn, was largely reflected in the import value of items such as boilers, precious stones, mineral fuel and oils, which declined to N.dollars 2,1 billion during the month under review, representing a decline of 55,8 per cent from N.dollars 4,7 billion one month earlier.
Namibia's main trade partners continue to be Switzerland, South Africa, United States of America and Angola on the export side, and South Africa, Germany and China on the import side.