By: Kavee Vezemburuka
Namibia’s export revenue for October 2024 declined by 3.8%, falling to N$8.7 billion from the N$9.0 billion recorded in September, as detailed in the Namibia Statistics Agency’s latest Merchandise Trade Statistics Bulletin.
On the other hand, the country’s import bill increased by 11.5% to reach N$16.5 billion, up from N$14.8 billion in the previous month.
This culminated in a trade deficit of N$7.8 billion, a notable rise from the N$5.8 billion deficit recorded in September.
Re-exports, however, showed a marked improvement, growing by 36.5% month-on-month and 32.9% year-on-year.
Cumulatively, Namibia’s exports for the year stood at N$94.1 billion as of October 2024, exceeding the N$80.7 billion recorded during the same period in 2023.
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