WINDHOEK, June 7 (Xinhua) -- Namibia's trade deficit fell in April to 1.3 billion Namibian dollars (about 87 million U.S. dollars), down 40.9 percent from the 2.2 billion Namibian dollars (about 148 million U.S. dollars) recorded in March, according to the latest figures released by the Namibia Statistics Agency (NSA).
In the year ending in April, Namibia's monthly trade deficit averaged 2.4 billion Namibian dollars (about 161 million U.S. dollars), according to the NSA.
"For April 2023, Namibia's export earnings decreased by 26.2 percent on a monthly basis, while the import bill decreased by 28.7 percent," NSA Statistician General Alex Shimuafeni said, adding that the deficit was reflected in copper ores and concentrates and petroleum oils.
He said Namibia's trade composition by partner showed that South Africa emerged as Namibia's largest market for both exports and imports.
"South Africa emerged in the first position as Namibia's export destination with a percentage share of 21.2 percent, while Botswana came second with a share of 16.2 percent, and China in the third position with a share of 11.4 percent," Shimuafeni said.
In terms of imports, South Africa occupied the first position with a percentage share of 46.7 percent, followed by China with a share of 14.9 percent, and India in the third position with a share of 4.1 percent, he said. ■