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Namibia’s fish export reached a record high in May this year, which reached N$1.1 billion compared to N$697 million recorded in May 2022. This was a ninth consecutive increase, representing 60.2% year-on-year growth. Most of Namibia’s fish exports go to Europe and Southern African Development Community (SADC) member states.
Namibia’s fish export reached a record high in May this year, which reached N$1.1 billion compared to N$697 million recorded in May 2022. This was a ninth consecutive increase, representing 60.2% year-on-year growth. Most of Namibia’s fish exports go to Europe and Southern African Development Community (SADC) member states.
Under the same period, fish inflation in June 2023 stood at 11.7%, lower than the 13.3% y/y recorded in May 2023 after reaching the highest annual rate since October 2017 at 18.2% y/y. June’s inflation was driven by fresh, frozen, and chilled fish prices which went up by 12.8% y/y, tinned fish prices increasing by 5.2% y/y. This was compounded by dried, smoked, and salted fish and seafood which also went up 12.8% y/y. Overall the fishing and fish processing sectors both expanded by 2.2% y/y in the first quarter of 2023.
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https://trendsnafrica.com/diamond-and-fish-play-pivotal-roles-in-namibias-trade-balance/
The agriculture sector showed small gains in Gross Domestic Product, expanding by 3.6% y/y in the first quarter of 2023, resulting in a contribution of about 4%, all-inclusive to the economic growth. The second quarter stands out to be the best performer in each year, which could be due to higher slaughtering and marketing figures. This is likely the effect of the winter season forcing farmers to slaughter more of their cattle due to less feed.
In June 2023, live exports recorded an increase of 11.6% y/y, compared to 6.0% y/y growth in May 2023. This growth was driven by higher sheep exports of 11.5% y/y and goat exports of 44.4% y/y, while cattle exports declined by 12.7% y/y, exerting downward pressure on the overall export.
