Mashatile Urges Chinese Enterprises to Boost Investment in South Africa

Mashatile Urges Chinese Enterprises to Boost Investment in South Africa

South Africa's Deputy president Paul Mashatile has encouraged Chinese-funded enterprises in his country to increase their investments in crucial sectors of the economy. Total bilateral trade increased from 614-billion-rand in 2022 to 692-billion-rand in 2023, while China’s 146-billion-rand deficits remained the highest among any of the country’s trading partners. Speaking at the South Africa-China Economic Trade and Association event in Johannesburg yesterday, Mashatile said China as one of the world’s […]

December 12, 2024 17

Business / Economics

Trade Deficit Narrows to N$3.6 Billion in August

In August, trade balance recorded a deficit of N$3.6 billion, an improvement from the N$4.9 billion deficit in August 2023 but higher than the N$2.1 billion deficit in July 2024. Exports saw an upward revision, increasing by N$7 million, while imports were adjusted downwards by N$1 million. The rise in export values was primarily driven by increased sales of fish and precious stones. Namibia Statistics Agency spokesperson, Mirjam Shihepo.

October 2, 2024 22

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 50

Opinion Pieces

Namibia Needs a Different Approach to Change the Structural Economy

Opinion Piece By Josef sheehama To attain V2030, Namibia will need to adopt structural reforms that will increase economic growth, facilitate more labor-intensive growth by opening up the labor market, and address an expensive and generally ineffective system of education, training, and skills. The government should support businesses in the manufacturing, construction, and agriculture sectors among others, paying attention to both the educated and the uneducated. As a […]

July 9, 2024 19

Business / Economics

Namibia’s trade deficit hits N$3.3 billion

The Namibia Statistics Agency’s latest International Merchandise Trade Statistics Bulletin shows that during the month of May 2024, the country’s trade balance stood at a deficit of N$3.3 billion, a worsened trade balance when compared to N$3.1 billion and N$2.9 billion recorded in April 2024 and May 2023, respectively. NSA spokesperson, Mirjam Shihepo. Namibia's trade composition by partner showed that South Africa remained Namibia's largest market for both exports […]

July 2, 2024 79

Namibia

Namibia records 16.3 percent export earnings

The Namibia Statistics Agency has just released the Namibia Mer-chandise Trade Statics for April 2024. Namibia’s export earnings recorded an increase of 16.3 percent from N$8.2 billion recorded in March 2024. The import bill for the month under review decreased by 1.3 percent from N$12.8 billion recorded during the preceding month, translating into a trade deficit of N$3.1 billion when com-pared to N$4.6 billion recorded in March […]

June 4, 2024 51

Business / Economics

March 2024 export earnings up by 36.5%

The Namibia Statistics Agency has announced that during March 2024, Namibia’s export earnings recorded an increase of 36.5 percent from N$6.1 billion recorded in February 2024 to N$8.3 billion. Moreover, the import bill for the month under review increased by 27.9 percent from N$10.0 billion recorded during the preceding month, resulting in a worsened trade deficit of N$4.5 billion when compared to a trade deficit of N$3.9 billion recorded in […]

May 2, 2024 78

Namibia

Namibia’s CPI comes in at 5.3%

The Namibia Statistics Agency’s latest Consumer Price Index shows that Namibia’s annual inflation stood at 5.3 percent during December 2023. NSA Communication specialist, Mirja Shihepo helps make sense of things. Meanwhile, during the month of November 2023, Namibia’s trade balance stood at a deficit of N$4.0 billion an improvement when compared to N$4.5 billion when compared to N$2.8 billion recorded in October 2023. The country’s trade composition by partner […]

January 18, 2024 58

Business / Economics

Bank of Namibia maintains repo rate at 7.75%

The Bank of Namibia has decided to keep the repo rate unchanged at 7.75 percent, resulting in the prime lending rate remaining stable at 11.50 percent. Here is Governor Johannes !Gawaxab addressing the decision. The next meeting of the MPC will be held on 12 and 13 February 2024.

December 6, 2023 34