Namibia’s Mining Sector Boosts Exports Amid Persistent Trade Deficit
Namibia’s mining and quarrying sector generated N$5.4 billion in export revenue in April 2025, accounting for nearly half of the country’s total exports for the month, according to the Namibia Statistics Agency (NSA).
The sector contributed 49% to total export earnings—an increase of N$1.2 billion compared to March 2025.
This surge was largely driven by uranium exports, which brought in N$1.7 billion, making it Namibia’s leading export product for the month. Uranium accounted for 26% of total exports, with the majority shipped to China.
Non-monetary gold was the second-largest contributor, adding N$437 million and representing 15.4% of total exports, primarily to South Africa.
Fish exports followed, contributing 11.5%, with key destinations including Spain, Zambia, and Italy.
Diamonds ranked fourth, making up 10.5% of export revenue, with most exports heading to Botswana, the United Arab Emirates, and Belgium.
Ores and concentrates of base metals were fifth at 5.8%, mainly exported to Brazil, South Africa, and China. Altogether, these top five products accounted for 69.1% of Namibia’s total exports in April.
Despite the strong export performance, Namibia recorded a trade deficit of N$1.9 billion in April—an improvement from the N$2.7 billion deficit recorded in March.
“Encouragingly, the country recorded trade surpluses in several key commodities,” the NSA reported. “Uranium led with a surplus of N$2.9 billion, followed by non-monetary gold and fish, with surpluses of N$1.7 billion and N$1.2 billion, respectively.”
However, the trade gap was widened by imports of petroleum oils, which alone accounted for a N$2.5 billion deficit.
Additional pressure came from imports of commercial motor vehicles and personal-use motor cars, resulting in deficits of N$569 million and N$421 million, respectively.
Although April’s trade deficit narrowed, the NSA cautioned that Namibia continues to face a persistent trade imbalance.
Over the 12-month period from April 2024 to April 2025, the country’s trade deficits averaged N$3.2 billion per month.
