The Namibia Statistics Agency (NSA) trade bulletin for February indicated that there is a decrease of 5.1% from N$10.7 billion recorded in January in exports revenue.

The report said non-monetary gold came second accounting for 17.6% of total exports destined solely for South African markets, while fish came third accounting for 12% with the commodity destined for Spain, Zambia and the Democratic Republic of Congo.

Petroleum oils ranked fourth on the list accounting for 4.6% mainly destined for Botswana and Zambia, while inorganic chemical elements took the fifth position and contributed 4.6% of the country’s total export revenue primarily for Switzerland and China.

“The top five export commodities jointly accounted for 65% of total exports,” it said.

NSA noted that exports improved by 66.7% cent as compared to N$6.1 billion registered in the corresponding month of 2024.

It further indicated that the country’s import bill for the month stood at N$12.2 billion reflecting a decline of 9.3% from N$13.4 billion recorded in the preceding month, noting that the downward trend in both exports and imports translated into a trade deficit amounting to N$2 billion.

“This implies an improvement to the trade deficit when compared to the N$2.7 billion recorded in January 2025,” the report said.

The report noted that Namibia exported goods to 99 countries compared to 107 export destinations recorded in January, while the demand side saw the country importing goods from 147 countries.

It noted that Namibia’s trade strategy is anchored in its participation in key Free Trade Agreements such as the Southern African Development Community protocol on trade, the Economic Partnership Agreement with the European Union and the United Kingdom, as well as the Southern African Customs Union, among others.