Hanoi:The country's trade deficit decreased to N$3.9 billion in August 2026, down from N$5.9 billion in July, driven by an increase in export earnings.

According to Namibia Press Agency, the Namibia International Merchandise Trade Statistics Bulletin for August 2026 reported an 18.8% rise in exports month-on-month, reaching N$12.7 billion. Imports saw a marginal increase of 0.2%, totaling N$16.6 billion.

When compared to August 2025, export earnings experienced a significant boost of 65.3%, while imports rose by 28%. The Namibia Statistics Agency (NSA) highlighted that the trade balance remained in deficit from August 2025 to August 2026, except for January 2026, which saw a trade surplus. The average monthly trade deficit during this period was N$3.5 billion.

The report noted that Namibia's cumulative export earnings reached N$91.2 billion, an increase of N$6.9 billion from the previous year. Cumulative imports were reported at N$120.8 billion, compared to N$98.3 billion during the same period in 2025.

The increase in export earnings for August was largely attributed to uranium, which saw a rise of N$2.7 billion. Other contributing commodities included non-electric parts and accessories of machinery, nickel ores and concentrates, alcoholic beverages, and fertilizers.

On the import side, the largest increase was seen in petroleum oils, which rose by N$318 million. This was followed by an increase in imports of tubes and pipe fittings of iron or steel by N$222 million, inorganic chemical elements by N$216 million, sulphur and unroasted iron pyrites by N$191 million, and mechanical handling equipment and parts by N$161 million.

The figures in the report reflected stronger external demand for Namibian exports, although the nation continues to heavily rely on imports to satisfy domestic needs.