Uranium packs export power in Jan
China remained Namibia’s premium export market in January, with nearly N$2.5 billion or 34.5% of all exports destined for the country.
Jo-Maré Duddy – Uranium in January catapulted to Namibia’s second biggest export product, contributing N$979 million or 13.5% to the country’s total export earnings.
Data released yesterday by the Namibia Statistics Agency (NSA) shows Namibia exported N$180 million or 22.5% more uranium in January compared to December. According to the NSA’s records, no uranium was exported in January 2020.
The NSA attributed the monthly increase to demand by China, Canada and France.
China has a massive stake in local uranium mines: China General Nuclear owns 90% of Swakop Uranium’s Husab mine, and Chinese National Nuclear Corporation (CNNC) holds 68.62% of the interest in Rössing Uranium, while 25% of the Langer Heinrich mine – currently on care and maintenance – belongs to Chinese Overseas Uranium Holdings.
TOP COMMODITIES
Copper claimed the top export spot in January with around N$2.8 billion of the commodity destined for foreign markets, nearly 39% of Namibia’s total exports. Month-on-month (m/m) copper exports rose by 9.2% and year-on-year (y/y) the increase was 11%.
Of the total value of copper exported in January, about 98.7% was re-exports. Copper was mainly exported to China, Belgium and Australia.
Other major exports were fish (N$784 million or 10.8% or total exports), non-monetary gold (N$480 million or 6.6%), as well as diamonds (N$429 million or 5.9%). Of the latter, N$245 million were re-exports.
Fish exports increased by 15.4% m/m, but were down 14.1% y/y. Non-monetary gold exports fell by 8.5% m/m and 10.8% y/y, while diamonds dropped by 70.6% m/m and 2.2% y/y.
Fish exports were mainly destined for Spain, the Democratic Republic of Congo (DRC) and South Africa. Non-monetary gold was exported to South Africa only. The prime exports markets for diamonds were the United Arab Emirates (UAE), Belgium and Israel.
FIGURES
Namibia exported goods worth nearly N$7.23 billion in January, a drop of N$951 million from the previous month, but N$868 million more than January 2020.
China was the main export market in January, absorbing 34.5% of all goods exported, ahead of South Africa with a market share 13.2%. Belgium, with 11.4% of all exports, was the third biggest market, followed by Zambia (4.8%) and Australia (4.2%).
Imports in the month under review amounted to about N$7.45 billion – nearly N$1.4 billion down from December and N$149 million less than January 2020.
South Africa remained Namibia’s largest import market with a share of 38.2%, followed by Zambia (21%), China (4.9%), as well as the United Kingdom (UK) and DRC, both with a share of 4%.
Namibia’s trade deficit for January was N$225 million, compared to N$621 million in December and about N$1.2 billion a year ago. In the year under review, Namibia recorded only one trade surplus: N$325 million in June 2020. October saw the biggest trade deficit – nearly N$4.42 billion.
Data released yesterday by the Namibia Statistics Agency (NSA) shows Namibia exported N$180 million or 22.5% more uranium in January compared to December. According to the NSA’s records, no uranium was exported in January 2020.
The NSA attributed the monthly increase to demand by China, Canada and France.
China has a massive stake in local uranium mines: China General Nuclear owns 90% of Swakop Uranium’s Husab mine, and Chinese National Nuclear Corporation (CNNC) holds 68.62% of the interest in Rössing Uranium, while 25% of the Langer Heinrich mine – currently on care and maintenance – belongs to Chinese Overseas Uranium Holdings.
TOP COMMODITIES
Copper claimed the top export spot in January with around N$2.8 billion of the commodity destined for foreign markets, nearly 39% of Namibia’s total exports. Month-on-month (m/m) copper exports rose by 9.2% and year-on-year (y/y) the increase was 11%.
Of the total value of copper exported in January, about 98.7% was re-exports. Copper was mainly exported to China, Belgium and Australia.
Other major exports were fish (N$784 million or 10.8% or total exports), non-monetary gold (N$480 million or 6.6%), as well as diamonds (N$429 million or 5.9%). Of the latter, N$245 million were re-exports.
Fish exports increased by 15.4% m/m, but were down 14.1% y/y. Non-monetary gold exports fell by 8.5% m/m and 10.8% y/y, while diamonds dropped by 70.6% m/m and 2.2% y/y.
Fish exports were mainly destined for Spain, the Democratic Republic of Congo (DRC) and South Africa. Non-monetary gold was exported to South Africa only. The prime exports markets for diamonds were the United Arab Emirates (UAE), Belgium and Israel.
FIGURES
Namibia exported goods worth nearly N$7.23 billion in January, a drop of N$951 million from the previous month, but N$868 million more than January 2020.
China was the main export market in January, absorbing 34.5% of all goods exported, ahead of South Africa with a market share 13.2%. Belgium, with 11.4% of all exports, was the third biggest market, followed by Zambia (4.8%) and Australia (4.2%).
Imports in the month under review amounted to about N$7.45 billion – nearly N$1.4 billion down from December and N$149 million less than January 2020.
South Africa remained Namibia’s largest import market with a share of 38.2%, followed by Zambia (21%), China (4.9%), as well as the United Kingdom (UK) and DRC, both with a share of 4%.
Namibia’s trade deficit for January was N$225 million, compared to N$621 million in December and about N$1.2 billion a year ago. In the year under review, Namibia recorded only one trade surplus: N$325 million in June 2020. October saw the biggest trade deficit – nearly N$4.42 billion.
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