WINDHOEK, June 4 (Xinhua) -- Namibia's trade balance in April stood at a deficit of 3.1 billion Namibia dollars (about 166 million U.S. dollars), down from 4.6 billion Namibia dollars recorded in March this year, according to the latest trade statistics released Tuesday.

In the year ended April, Namibia maintained an average trade deficit of 3.2 billion Namibia dollars, according to the Namibia Statistics Agency (NSA).

For April 2024, Namibia's export earnings recorded an increase of 16.3 percent monthly, while the import bill for the month under review decreased by 1.3 percent, NSA Statistician-General Alex Shimuafeni said.

According to Shimuafeni, South Africa emerged as Namibia's largest market for exports and imports. South Africa was Namibia's primary export destination, accounting for 17.6 percent of exports. China held the second position with a share of 16.9 percent, while Botswana occupied the third position with a share of 14.6 percent. Additionally, the Democratic Republic of the Congo and Zambia held the fourth and fifth positions, contributing 9.3 percent and 6.9 percent, respectively.

The export basket composition for April 2024 comprised mainly minerals such as precious stones (diamonds), uranium, non-monetary gold and petroleum oils. The only non-mineral product within the top five exports was fish.

Shimuafeni said that reexports increased by 2.6 percent month-on-month and 17.5 percent year-on-year. Enditem

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