Namibia recorded increase in exports due to international demand for iron, steel, ore, animal and vegetable fats

WINDHOEK: Namibia recorded an increase in exports between the years 2011 and 2012 due to international demand for iron, steel, ore, and animal and vegetable fats.

The country, which is a net exporter of raw materials, recorded an increase in the value of exports from N.dollars 37 billion in the 2010/2011 financial year to N.dollars 38 billion during 2011/2012.

This represent a 2,7 per cent increase.

According to the Ministry of Trade and Industry’s 2012/2013 Annual Report availed to Nampa, the total exports of manufactured products have increased, albeit slightly from 22,2 per cent to 22,4 per cent in 2011.

In keeping with its trade and export development and promotion mandate, the ministry implemented a number of initiatives geared towards facilitating export and market opportunities for Namibian entrepreneurs and products during the period under review.

According to the report, the ministry provided financial and technical support to local trade fair organisers, local companies and entrepreneurs to participate in trade fairs and exhibitions as well as in business missions at home, in the region and internationally.