18 Jun 2019 15:10pm
WINDHOEK, 18 JUN (NAMPA) - Namibia's exports rose to N.dollars 14.34 billion during the first quarter of 2019, compared to N.dollars 13.47 billion recorded in the previous quarter, with China being the main export destination.
The Quarterly Trade Statistics Bulletin recently published by the Namibia Statistics Agency shows that exports to China accounted for 29 per cent, comprised mainly of copper, zinc and ore.
The growth was also a result of the export of motor vehicles and parts, oils, mineral fuels and beverages to Botswana, which accounted for 14 per cent.
Meanwhile, imports from major markets weakened by six per cent during the first quarter of 2019, recording N.dollars 18.16 billion compared to N.dollars 19.36 billion in the fourth quarter of 2018.
The country's major markets accounted for 74 per cent of the value of imports. These markets include South Africa, Zambia, Bulgaria, Botswana and China, which provided the most needed import requirements for the domestic economy.
South Africa, which was the largest import market for the domestic economy, accounted for 42 per cent of the value of all imports into Namibia during the first quarter of 2019, followed by Zambia with 17 per cent of total imports from the rest of the world.
Subsequently, overall imports declined by N.dollars 3.99 billion (14 per cent) from N.dollars 28.38 billion in the first quarter of 2018 compared to quarter one of 2019 which stood at N.dollars 24.39 billion.
Bulgarias contribution stood at seven per cent of Namibias total imports, ranking as the third largest source of imports, follow by Botswana and China, accounting for four per cent each.
Namibia recorded the largest decline of imports from China, which fell by N.dollars 942 million in the first quarter to N.dollars 859 million (52 per cent) the previous quarter in 2018, while imports from Botswana declined by 25 per cent, with N.dollars 321 million, in quarter one of 2019 to N.dollars 960 million the preceding quarter.