Namibia recorded its highest-ever trade deficit in August 2025, reaching 5.3 billion Namibian dollars (approximately 308 million U.S. dollars), according to data released by the Namibia Statistics Agency on Thursday, October 2.
This sharp increase marks a significant jump from July’s deficit of 13 million Namibian dollars and is notably worse than the 3.4 billion Namibian dollar deficit registered in August 2024. Statistician-General Alex Shimuafeni noted that South Africa remains Namibia’s principal trading partner for both imports and exports, underscoring the country’s deep economic ties with its southern neighbour.
Namibia’s export performance continues to rely heavily on its mining sector. The bulk of exports comprises non-monetary gold, uranium, base metal ores and concentrates, as well as copper and copper-related products. Fish remains the only non-mineral product among the country’s top five exports, highlighting the limited diversification of Namibia’s export basket. Re-exports were similarly dominated by mineral commodities, including copper, petroleum oils, diamonds, and various base metal ores and concentrates.
On the import side, Namibia’s demand was led by petroleum oils, motor vehicles, nickel ores and concentrates, and civil engineering and contractors’ equipment. The widening trade deficit reflects the country’s heavy dependence on imports of essential goods and industrial materials, set against a relatively narrow export base concentrated in resource extraction.