Namibia-China trade continues to grow

Trade relations between Namibia and China continue to grow on a quarterly basis with the latest trade statistics showing that the Asian giant remains Namibia's top export market, the Namibian Statistics Agency (NSA) said Thursday.

Namibian Statistician-General Alex Shimuafeni said the current trade statistics also show that Namibia's total merchandise trade declined to the level of 15 billion Namibian dollars (about 1 billion U.S. dollars), which is 13.5 percent less than its level of 17 billion Namibian dollars in December 2020.

Namibia's trade balance remained in a deficit amounting to 225 million Namibian dollars, narrowing from 621 million Namibian dollars recorded in December 2020.

"Namibia's trade composition by partner illustrated that China emerged as Namibia's largest export market while South Africa maintained her position as the number one source of imports. The composition of goods exported consisted mainly of minerals such as copper, uranium ores, non-monetary gold and pearls and precious stones (diamonds)," Shimuafeni said.