Mining remains backbone of exports

Jo-Maré Duddy – More than N$54.1 billion worth of diamonds, gold, uranium, copper and zinc was exported in 2018, about N$16.8 billion or 45% more than 2017.

Around N$25.6 billion of these were re-exports, according to the 2018 annual trade statistics released by the Namibia Statistics Agency (NSA).

As in 2017, exports of mining resources last year accounted for some 58.3% of total exports.

Precious stones and metals in 2018 remained Namibia’s top export commodity, earning about N$20.5 billion in foreign currency. Compared to 2017, this is a drop of around 1.4%.

Copper was the second most important export commodity. Copper exports skyrocketed nearly 277% compared to 2017 and totalled about N$20.48 billion. Of this, around N$19.1 billion was re-exports.

Some N$10.4 billion worth of ores was exported in 2018, up 29% from the previous year.

Zinc exports dropped by about 9% to around N$2.6 billion.

China imported nearly N$9.8 billion worth of copper, N$5.96 billion worth of ores and N$311 million worth of zinc.

Precious stones and metals to the value of nearly N$4.4 billion were exported to South Africa, while N$771 million of zinc was also destined for the neighbouring market.

Namibia exported copper worth nearly N$7.2 billion to Belgium. Precious stones and metals to the tune of nearly N$1.4 billion also landed in the country, as did ores worth N$222 million and zinc of N$147 million.

About N$8.7 billion worth of diamonds was exported to Botswana.