Trade surplus signals turnaround for local economy

Port of Walvis Bay

 

The trade sector swung dramatically into positive territory in May, posting a surplus of N$121 million, the first surplus in nearly five years and a strong reversal from April’s N$1.8 billion deficit. Simonis Storm Economist Almandro Jansen attributes this turnaround to a sharp rebound in mining exports coupled with subdued fuel imports, a combo he says indicates increasing stability in the country’s external trade. 

 

According to Jansen, strong global commodity demand, especially for diamonds, uranium, base metals, and copper, has helped bolster export earnings. He also warned, however, that global economic headwinds like fragile global trade and rising US tariffs could threaten the nascent recovery.

Namport’s container terminal and upgraded port facilities in Walvis Bay are playing a supporting role. The expanded capacity has not only boosted throughput but also strengthened Namibia’s logistics infrastructure, making it more attractive for global trade

📊 What’s Driving This Turn