Namibia's imports and exports increasing

13 Nov 2013 17:40pm
WINDHOEK, 12 NOV (NAMPA) – Namibia’s total imports for September 2013 amounted to N.dollars 8.0 billion, compared to N.dollars 5.7 billion a year ago.
The country’s exports for September this year amounted to N.dollars 5.5 billion, compared to N.dollars 3.1 billion a year ago, the September 2013 Trade Statistics Bulletin issued by the Namibia Statistics Agency (NSA) here on Tuesday stated.
Major imports were ships, boats and other floating structures, vehicles, boilers’ machinery, precious stones and electrical machinery.
Exported products were precious stones, ships, boats and floating structures, ores, slag and ash, fish and zinc.
During the period under review, Namibia’s key export markets were South Africa, Botswana, Denmark, Switzerland and Angola. These five export destinations accounted for 61.6 per cent of Namibia’s exports during the month under review.
The Southern African Customs’ Union (SACU) remained the largest market for Namibia’s exports in September 2013, accounting for 38.7 per cent of total exports, albeit down from 41.6 per cent in the corresponding month of 2012.
Overall, exports to SACU member states increased by 69.0 per cent month-on-month, and declined by 67.0 per cent year-on-year.
According to the bulletin, the European Union (EU) was the second-largest market for Namibia, accounting for 15.0 per cent of total exports for September 2013, compared to 18.3 per cent in the previous month, and 17.9 per cent in the corresponding month of the preceding year.
During the period under review, imports were sourced from South Africa, Marshall Island, China, the Export Processing Zone (EPZ) and Botswana.
Ships, boats and floating structures, which were the most imported products by value, were mainly sourced from Marshall Island, an island country located in the northern Pacific Ocean.
During the month under review, Namibia mostly imported from SACU, compared to other economic blocs. Expenditure on imports from SACU registered 50.1 per cent of total imports.
The EU followed with a share of 3.5 per cent of total imports, down from 10.9 per cent in the previous month, and up from 3.2 per cent in the same month of the preceding year.
A decline in imports from the EU by 68.0 per cent was recorded on a month-on-month basis, and increased by 9.4 per cent on a year-on-year basis.
Imports from the Southern African Development Community (SADC) and non-SACU places occupied the third place with a share of 0.8 per cent, down from 3.3 per cent when compared to the previous month, and 3.1 per cent in the same month in 2012.
A decline in imports from this bloc by 76.0 per cent and 74.2 per cent was registered on a month-on-month and year-on-year basis, respectively.
“Namibia continues to rely heavily on the road and sea as major modes of transport for imports and exports,” it added.