Trade deficit reaches N$3.6 billion in August 2024

Trade deficit reaches N$3.6 billion in August 2024

The Namibia Statistics Agency has reported a trade balance deficit of N$3.6 billion in August 2024 which is an increase from N$2.1 billion in July and a decrease from N$4.9 billion in August 2023. Exports were adjusted upward by N$7 million, while imports decreased by N$1 million, mainly due to higher export values of fish and precious stones, according to Namibia Statistics Agency spokesperson Mirjam Shihepo.

October 2, 2024 28

Business / Economics

NSA informal cross-border trade study reveals gender disparities

The Namibia Statistics Agency (NSA) has released the findings of a study conducted in November 2023 on informal cross-border trade. According to the report, Namibia exported goods valued at N$9.1 million and imported goods worth N$1.2 million during the period under review. The NSA's Executive for Economic Statistics, Abel Sindano, emphasized the importance of informal cross-border trade in the region. He said that it plays a critical role in sustaining […]

September 18, 2024 31

Business / Economics

Namibia’s merchandise trade deficit shrinks in June 2024

The Namibia Statistics Agency has released the latest trade statistics bulletin which shows that during June 2024, the country’s trade balance stood at a deficit of N$825 million, a notable improvement when compared to N$3.4 billion and N$1.5 billion recorded in May 2024 and June 2023, respectively. The data also revealed that China emerged as Namibia’s largest market for exports while South Africa took the first position on imports. NSA […]

August 1, 2024 41

Africa

Kenya’s shilling is gaining value, but don’t expect it to last – expert

By Odongo Kodongo, University of the Witwatersrand Shortly after Kenya’s 2022 elections, the shilling depreciated rapidly against the US dollar – the country’s main currency for international transactions – fuelling a wave of political discontent. More than a year later, the Central Bank of Kenya, taking its cue from the International Monetary Fund, said that the run on the shilling was a market correction for a […]

April 17, 2024 9

Africa

Dry weather hits southern Africa’s farmers, putting key maize supplies at risk: how to blunt the impact

By Wandile Sihlobo, Stellenbosch University South Africa, Zambia and Zimbabwe have recently published reports indicating a potential decline in grain harvest because of intense El Niño-induced dryness. These developments could put the entire Southern Africa maize supply chain at risk, with Zambia and South Africa hard hit by heatwaves and dryness. The neighbouring small producers such as Zimbabwe, Botswana, Lesotho and Namibia are also struggling with dryness. […]

March 7, 2024 25

Namibia

Namibia’s Export Earnings Surge in January 2024 as Import Bill Raises Concerns

Namibia witnessed a significant 9.4% increase in export earnings during January 2024, soaring from N$10.9 billion in December 2023 to N$12 billion. In comparison, January 2023 reported exports at N$7.8 billion, indicating positive economic growth. However, the import bill for the same period rose sharply by 16.3%, reaching N$11.8 billion, resulting in a widened trade deficit of N$1.8 billion. Namibian Statistics Agency spokesperson, Mirjam Shihepo, offers insights into the trade […]

March 6, 2024 76

Business / Economics

South Africa’s $26.3 million new mining fund sets stage for exploration boom

By Bonface Orucho, via bird story agency South Africa is charting a new course for its mining industry, betting on local and junior miners to identify and unlock greenfield mines as the country pursues higher sector prosperity. The country has introduced a new US$26.3 million (R500 million) mining exploration fund for local and junior miners, aiming to tap into the rising global demand for minerals. South Africa’s […]

February 8, 2024 19