Namibia recorded a trade deficit of N$58 million in July 2025, marking a decline from a surplus of N$856 million recorded in June, but reflecting an improvement compared to the N$2 billion deficit registered in July 2024.
This is according to Statistician-General and Namibia Statistics Agency CEO, Alex Shimuafeni, whose latest trade report highlighted blankets as the “commodity of the month.”
“The country imported blankets valued at N$8.1 million, mainly from South Africa, China, and Pakistan. In contrast, exports of blankets stood at only N$398 104, largely re-exports destined for Angola,” he stated.
The latest figure shows South Africa remained Namibia’s largest trading partner, dominating both imports and exports. On the export side, Namibia’s trade basket for July was heavily concentrated in mining commodities. Uranium, diamonds, non-monetary gold, and copper products made up the top export items, with fish being the only non-mineral product among the top five.
“Re-exports continue to play a significant role, increasing by 9% month-on-month and 2.5% year-on-year. The re-export basket was primarily made up of copper products, diamonds, ores and concentrates of base metals, petroleum oils, and rubber tyres,” he said.
Imports during the period were driven by petroleum oils, motor vehicles for both commercial use and passenger transport, mechanical handling equipment, as well as civil engineering and contractors’ equipment.
Shimuafeni noted that while the July deficit signalled weaker trade performance compared to June, the figures still point to a healthier outlook compared to last year’s N$2 billion shortfall.