Windhoek-NAMIBIA has been experiencing a decent swell of cargo handled at the country’s recently expanded Walvis Bay Port with increased shipments by Zambia, Zimbabwe and Botswana who also have dry port facilities in that country.
The latest trade statistics released by the Namibian Statistics Agency, Statistician General Alex Shimuafeni, shows a significant increase in the levels of cargo handled through the port have increased, dominated by copper exports, which come from Zambia as well as targeted to other Southern African countries from other parts of the world.
The NSA however said the Southern African country recorded an overall decline in the total merchandise trade slowed to N$14.1 billion, a decline of 37.8 percent and 12.2 percent compared to N$22.6 billion and N$16 billion recorded in April 2021 and May 2020, respectively.
According to NSA the decline on the merchandise trade also saw Namibia’s trade balance remaining in a deficit amounting to N$3.2 billion from deficits of N$143 million recorded in April 2021 and N$1.2 billion in May 2020.
“Namibia’s trade composition by partner illustrated that China emerged as Namibia’s largest export market, while South Africa was the main import market. The composition of the export basket mainly consisted of minerals such as copper, uranium, precious stones (diamonds) and fish.” NSA aid.
Shimuafeni reiterated that fish remained the only non-mineral product among the top five exports. On the other hand, the import basket consisted mainly of copper; petroleum oils; copper ores; motor vehicles, and ships, boats and other floating structures.
“The May 2021 trade figures indicated that re-exports fell by 60.3 percent month-on-month and by 20.3 percent year-on-year. Copper had the largest share of all goods re-exported, accounting for 57.8 percent of total re-exports mainly destined to China, Netherlands, France, Hong Kong and Belgium. Most of the copper re-exported originated from Zambia and D.R.C,” he said.
The NSA also added that Namibia saw the value of exports in May declining by 51.6 percent to N$5.4 billion from its level of N$11.2 billion recorded in April 2021.
“Similarly, when compared to N$7.4 billion recorded in May 2020, exports declined by 26.5 percent .Imports stood at N$8.6 billion, declining by 24.2 percent on monthly basis and slightly increasing by 0.2 percent on annual basis. Following the developments in exports and imports, Namibia’s total merchandise trade (exports plus imports) with the ROW decreased by 37.8 percent from N$22.6 billion obtained in April 2021 to N$14.1 billion recorded in May 2021. A further decline of12.2 percent was observed in the country’s total trade when compared to its level of N$16 billion registered in May 2020,” NSA said.