Walvis Bay continues to serve as Namibia’s primary border post for both imports and exports, with imported goods amounting to a value of N$5.1 billion passing through there, a report by Simonis Storm reveals.
“One of Namibia’s advantages is the absence of load shedding, ensuring that our ports and border posts can operate at optimal capacity, facilitating the smooth flow of goods for export from the port in Walvis Bay. This presents a significant opportunity for our country to capture market share from other ports in the region. However, certain reforms are still necessary to enhance our performance on key indicators such as timeliness, logistics competence, and quality, thereby further improving our competitiveness in the global market,” Simonis Storm says in the report.
In March 2024, total trade activity in Namibia, which includes both imports and exports, reached N$21.1 billion, reflecting a decrease of 6.8% y/y. The reduction was largely due to a decrease in exports year-over-year. However, there was a monthly increase in exports from N$6.1 billion in February 2024 to N$8.3 billion in March 2024. On the other hand, imports recorded increases of 27.9% m/m and 2.9% y/y. Namibia’s trade balance widened to N$4.5 billion in March 2024 compared to N$3.9 billion in February 2024 and N$2.2 billion in March 2023.
The largest portion of the import bill can be attributed to petroleum oils, while precious stones (diamonds) held the largest share of the export basket.
“Trade volumes were shaped by goods within the manufacturing sector, with exports totaling N$5.0 billion and imports valued at N$8.4 billion, highlighting manufacturing activities in both outbound and inbound trade flows for Namibia during this period. Additionally, Namibia emerges as a net importer of manufacturing and mining and quarrying products, signaling its reliance on these sectors for meeting domestic demand and industrial needs.
“Conversely, the country maintains a position as a net exporter of agricultural, forestry, and fishing products, as well as transport and storage products, reflecting its strengths in these areas and its capacity to contribute positively to international trade balances.”
In March 2024, In March 2024, the Namibia Statistics Agency (NSA) identified live sheep, meat, and sheep products as the featured commodity of the month, with exports amounting to N$97.3 million, slightly down from N$102.2 million in March 2023.
Predominantly, these exports went to South Africa, which received 95.7% of the total, with Zambia and Botswana accounting for 2.2% and 2.1% respectively. This observation aligns with our agri-monthly report, where we highlighted an increase in sheep marketing during March 2024, particularly in live exports. The Livestock and Livestock Products Board attributed this shift in dynamics to prevailing drought conditions and, to some extent, to lower producer prices offered by local abattoirs.