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Namibia’s trade deficit improved significantly in February, narrowing from 3 billion Namibian dollars (about 167 million U.S. dollars) in January to 412 million Namibian dollars, the Namibia Statistics Agency reported on Tuesday.
The southwestern African nation’s exports increased by 3.8 percent from January to 8.1 billion Namibian dollars, while imports declined by 21.1 percent month-on-month to 8.5 billion Namibian dollars.
Diamonds were Namibia’s biggest export commodity, accounting for 24.7 percent of total exports destined mainly for Botswana, Belgium, and the United Arab Emirates. Fish and Uranium came second and third, accounting for 14.7 percent and 12.7 percent of total exports, respectively.
Petroleum oils topped the list of imported goods with a share of 18.1 percent of the nation’s total import value. Motor cars for the transportation of persons came second with a share of 4.9 percent, while motor vehicles for the transport of goods were ranked third with a share of 3.7 percent of all commodities imported.
South Africa emerged as the country’s largest export destination, with a share of 17.7 percent of all goods exported, followed by Botswana at 15.3 percent.
South Africa also maintained its pole position as the country’s largest source of imports, accounting for 46.2 percent of total imports, followed by China with 13.1 percent of the market share. Enditem
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