Trade balance improving by N.dollars

The month of April 2023 has seen the country’s trade balance improving by N.dollars 893 million from N.dollars 2.2 billion recorded in March 2023 and N.dollars 3.5 billion observed in April 2022 respectively.

This was contained in the Namibia Merchandise Trade Statistics Bulletin issued by the Namibia Statistics Agency (NSA) here on Wednesday.

“International merchandise trade plays a crucial role in economic development as it links producers and consumers located in different countries into a global economic system,” NSA said.

In this context, the agency said the availability of timely and high-quality trade statistics becomes a pre-condition for an in-depth analysis of the employment, production, income, consumption and overall welfare at the country and global levels.

According to NSA, Namibia’s trade composition by partner showed that South Africa emerged as Namibia’s largest market for both exports and imports.

Source: The Namibia Press Agency