Namibia Import Data

Namibia's Import/Export Overview and Domestic Market Analysis

Imports & Exports

• Top Trade Partners: Namibia's major trade partners include South Africa, China, the European Union, and Botswana.

• Top Imports: Mineral products, machinery, and vehicles make up the top imports, with minerals alone accounting for over 15% of total imports.

• Top Exports: Exports are dominated by precious metals, ores, and stones, with diamonds representing a significant portion, nearly 20% of total exports.

• Trade Balance: Namibia experiences a trade deficit, with imports exceeding exports. Initiatives are underway to boost local production and reduce reliance on imports.

• Trade Policy: Namibia adheres to the Southern African Customs Union (SACU) and Common Market for Eastern and Southern Africa (COMESA), aiming to foster regional trade and economic integration.

Domestic Market

• Consumer Expenditure: Household spending is recovering, driven by a growing middle class, but remains constrained by high unemployment and income inequality.

• Interest Rates & Inflation: Interest rates are set by the Bank of Namibia, aiming to keep inflation in check, which has been a challenge due to global economic pressures.

• Supply Chain Dynamics: Supply chains are robust within the region, but external dependencies and logistical issues sometimes cause delays and increased costs.

• Industry Performance: The mining sector is a pillar of the economy, alongside growing tourism and a developing manufacturing base, although agricultural output has been inconsistent.

Overall Outlook