Namibia’s trade deficit increased during the third quarter

Namibia's trade deficit increased during the third quarter of 2019 due to exports which weakened by 23,1 per cent.

According to the Third Quarter Trade Statistics Bulletin for 2019 released by the Namibia Statistics Agency (NSA) today, the country's trade deficit stood at N.dollars 6.8 billion, compared to N.dollars 4.7 billion the same period in 2018.

Exports during quarter three of 2019 stood at N.dollars 19.4 billion from N.dollars 25.7 billion during the same period in 2018, and N.dollars 23.7 billion in the second quarter of 2019.

Namibia's leading export markets were China, South Africa, Botswana, Belgium and Spain.

Namibia's import during the third quarter of 2019 also declined by 12,4 per cent, amounting to N.dollars 26.2 billion in quarter three of 2019, compared to N.dollars 29.9 billion in quarter three of 2018 and 27.4 billion in the second quarter of 2019.

Imports were mainly sourced from South Africa with N.dollars 13.1 billion comprising of motor vehicles and parts, industrial machinery and electrical machinery.

Source: Namibia Press Agency