Mining drives trade as France becomes biggest export market

Strong demand for Namibia’s minerals pushed the country’s exports to N$12.7 billion in August, helping narrow the trade deficit as France emerged as Namibia’s biggest export market. The latest Namibia Statistics Agency (NSA) merchandise trade report shows exports increased by 18.8% from July and by 65.3% compared to August last year.

Although imports remained higher at N$16.6 billion, the country’s trade deficit improved to N$3.9 billion, down from N$5.9 billion recorded in July.

The report shows that mining continues to drive Namibia’s trade with the rest of the world. The mining and quarrying sector earned N$6.4 billion, accounting for more than half of the country’s total export earnings during the month.

Uranium remained Namibia’s leading export commodity in August, contributing 26.5% of total export earnings, with most shipments going to France and China. Non-monetary gold ranked second, accounting for 11.9% of total exports, and was exported exclusively to South Africa. Diamonds were the third-largest export, contributing 11.5% of total export earnings, with Botswana, the United Arab Emirates and Belgium serving as the main destinations. Fish ranked fourth, accounting for 10.2% of total exports and was mainly exported to Spain, Zambia and South Africa. Together, these products made up a significant share of Namibia’s export earnings during the month.

Export earnings from the sector increased by N$2.6 billion compared to July. Statistician General and NSA CEO Alex Shimuafeni said exports continued to be supported by the country’s mineral resources.

“In August 2026, Namibia’s trade developments reveal that exports amounted to N$12.7 billion, while imports were higher at N$16.6 billion, resulting in a trade deficit of N$3.9 billion. This development reflects an improved trade balance when compared to the N$5.9 billion deficit recorded in July 2026,”he said.

Shimuafeni said France became Namibia’s largest export destination during August, while South Africa remained the country’s biggest source of imports.

“Namibia’s export basket in August 2026 was largely dominated by mining products, particularly uranium, non-monetary gold, diamonds and nickel ores and concentrates. Fish was the only non-mineral commodity among the top five export products,” he said.

The figures come as Namibia’s mining sector continues to attract international attention. Last month, Namdeb unveiled the 176.29-carat “Owishi” diamond, the largest diamond recovered from its Southern Coastal Mine in more than 20 years. The stone, recovered in May, is one of the biggest natural diamonds found in Namibia in recent years and has renewed global attention on the country’s diamond industry.

Although the discovery is not part of the August trade figures, it highlights the continued importance of mining to the Namibian economy at a time when the country remains one of the world’s leading producers of high-value natural diamonds.

President Netumbo Nandi-Ndaitwah, who unveiled the diamond, said the discovery reflects the country’s mineral wealth and the quality of Namibia’s natural diamonds.

“This remarkable stone represents the largest diamond of its kind to be discovered at the mine in the past two decades. It is a testament to Namibia’s standing as a country endowed with valuable natural resources and recognised as a producer of high-quality natural diamonds,” she said.

Mining was followed by manufacturing, which contributed 44% of total exports despite export earnings from the sector declining by N$592 million compared to July. Food products remained the biggest manufactured export at N$1.87 billion, followed by basic metals worth N$1.68 billion and chemical products valued at N$863 million.

Agriculture, forestry and fishing ranked third, contributing 4.8% of total exports. Crop and animal production generated N$418 million, while forestry and logging earned N$173 million. Despite stronger exports, Namibia continued to import more goods than it exported. Imports stood at N$16.6 billion, with manufactured goods accounting for N$11.5 billion of the country’s import bill.

Mining and quarrying imports reached N$4.7 billion, while agriculture, forestry and fishing imports totalled N$330 million. Petroleum oils, machinery, motor vehicles, chemical products and mining-related equipment remained among Namibia’s biggest imports, reflecting the country’s continued dependence on foreign manufactured goods.

The report also shows Namibia remained a net exporter of food, recording a trade surplus of N$773 million after food exports exceeded imports.

However, the country continued to import more beverages than it exported, resulting in a trade deficit of N$193 million.

The NSA also analysed trade in poultry products, showing Namibia exported poultry worth N$49 million, mainly to the Democratic Republic of Congo, Zambia and Botswana. Poultry imports reached N$53.4 million, with Brazil, South Africa and the United States remaining the country’s main suppliers. [email protected]

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