Namibia continues to be a net-importer of goods and services over 2008 to 2013

WINDHOEK: Namibia continued to be a net-importer of goods and services over the period 2008 to 2013, leading to trade deficits.

Giving a presentation on how the Namibian economy performed in 2013 yesterday, Namibia’s Statistician-General John Steytler said the increase in the country’s trade deficit is worrying, as such dependence on imports hurts Namibia’s economic independence.

He said the value of imported goods stood at N.dollars 63,7 billion in 2013, compared to N.dollars 53,4 billion in 2012.

The import value of services has increased to N.dollars 7,7 billion from N.dollars 5,7 billion in 2012, while the export value of goods for 2013 amounts to N.dollars 47,9 billion, compared to N.dollars 42,3 billion in 2012.

Steytler said the value of services exported declined marginally to N.dollars 5,5 billion in 2013 from N.dollars 5,6 billion one year earlier.

The overall result is that the external balance of goods and services deteriorated from a deficit of N.dollars 11,2 billion in 2012 to a deficit of N.dollars 18,1 billion in 2013.

SOURCE: NAMPA