Namibia’s trade deficit narrowed to N$2.3 billion in March 2026 as exports from the mining sector increased sharply, although the country continued to spend heavily on fuel, vehicles and industrial equipment imports. 

This is according to the latest trade statistics by the Namibia Statistics Agency. 

Latest trade figures show that Namibia exported goods worth N$13.2 billion during March, while imports stood at N$15.5 billion. 

The deficit is lower than the N$5.2 billion recorded in February this year and remains unchanged from March 2025. 

“The country’s export basket for March 2026 was mainly composed of commodities from the mining sector such as uranium, non-monetary gold, nickel ores and concentrates, and precious stones (diamonds),” the report stated. 

China is Namibia’s biggest export destination during the month, while South Africa remained the country’s largest source of imports. 

Fish was the only non-mineral product among Namibia’s top five exports, underlining the continued dominance of the mining sector in the country’s trade performance. 

The report further revealed that re-exports increased significantly during March. 

“Re-exports notably increased by 86.4% on a monthly basis and by 12.7% on an annual basis,” the report noted. 

Products re-exported from Namibia mainly included nickel ores and concentrates, petroleum oils, textile materials and chemical products. 

Namibia mostly imported petroleum oils, vehicles, engineering equipment and nickel ores. It exported more food than it imported, with a N$462 million trade surplus, but imported beverages, incurring a N$190 million deficit. 

The report also highlighted commercial vehicles as the “commodity of the month”. 

“Namibia imported vehicles for commercial purposes worth N$979 million, mainly from South Africa, India and China,” the report said. 

Meanwhile, the country exported commercial vehicles worth N$48 million, mainly to Zambia. The report noted that these exports were entirely re-exports. 

Compared with February 2026, Namibia’s export earnings almost doubled, up 99.6%, while imports rose by 31.3%. 

Cumulative exports for the first three months of 2026 reached N$31.2 billion, higher than the N$29.9 billion recorded during the same period last year. -pmukokobi@nepc.com.na