Namibia recorded a trade surplus of 121 million Namibian dollars (approximately 6.9 million US dollars) in May 2025, marking the country’s first positive trade balance in 13 months, according to the latest data released by the Namibia Statistics Agency (NSA). The turnaround was primarily driven by a sharp increase in uranium exports and a concurrent decline in imports.
According to Statistician General Alex Shimuafeni, total exports for May rose by 7.3 percent from April levels, reaching 11.8 billion Namibian dollars, while imports contracted by 9.1 percent, totalling 11.7 billion Namibian dollars. This marked a significant reversal from the revised trade deficit of 1.8 billion Namibian dollars reported in April.
The export profile for May 2025 was dominated by uranium, which accounted for 29.3 percent of total exports, reaffirming its strategic role in Namibia’s mineral economy. The bulk of this uranium was exported to China, which emerged as Namibia’s top export destination, absorbing 24.5 percent of total exports during the period. Other key export commodities included non-monetary gold, fish, diamonds, and copper.
The latest NSA bulletin further indicated that 44.9 percent of Namibia’s exports were directed to African countries, underscoring growing intra-African trade linkages. However, trade dependency on global markets remains pronounced.
On the import side, the largest categories included petroleum oils, nickel ores, base metal concentrates, and industrial machinery, reflecting the country’s continued reliance on imports of capital-intensive and energy-related goods. Despite efforts to diversify local manufacturing, the data suggests that structural trade imbalances persist, driven by sustained demand for imported manufactured goods.
South Africa retained its position as Namibia’s primary import partner, supplying 38.7 percent of the country’s total imports in May. The regional trade dynamic continues to highlight the Southern African Customs Union’s (SACU) significance to Namibia’s external sector engagements.
Although the May surplus offers a reprieve from a prolonged stretch of trade deficits, analysts suggest it may be a temporary deviation rather than an indication of a sustained shift in trade dynamics. Namibia’s external sector remains vulnerable to commodity price fluctuations and global demand patterns, particularly in relation to extractive exports.
The NSA’s comprehensive trade statistics, available on its official website, offer detailed month-by-month data that policy analysts, trade strategists, and investors can utilise to understand shifting patterns in Namibia’s trade performance.
