Namibia’s Import Bill Contracts

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The monthly contraction was driven by reduced imports across several key categories. Copper ores and concentrates saw the sharpest drop, plunging by over N$1.6 billion, while imports of aircraft, fertilisers, and iron or steel products also declined.

Namibia’s trade landscape witnessed a notable shift in February 2025, as the country’s import bill contracted by 9.3% month-on-month, reflecting both temporary supply chain adjustments and broader economic pressures.

According to the latest Macro Pulse: Trade Statistics- February ’25 report by Simonis Storm, Namibia imported goods worth N$12.2 billion in February, down from N$13.4 billion in January. While this decline signals a short-term easing of import dependency, the figure remains 21.5% higher compared to February 2024, underscoring persistent structural reliance on foreign goods. The data highlights Namibia’s delicate balancing act between managing external vulnerabilities and capitalising on improving trade fundamentals.

The monthly contraction was driven by reduced imports across several key categories. Copper ores and concentrates saw the sharpest drop, plunging by over N$1.6 billion, while imports of aircraft, fertilisers, and iron or steel products also declined. These reductions reflect a combination of seasonal demand fluctuations, inventory adjustments, and cautious procurement by industries amid global economic uncertainty. Despite the dip, critical imports such as petroleum oils (12.7% of total imports), motor vehicles for commercial use (4.0%), and inorganic chemical elements (3.7%) retained their dominance, underscoring their necessity for local energy, logistics, and manufacturing sectors. South Africa remained Namibia’s largest import partner, supplying 38.6% of goods, followed by China (10.4%), India (9.7%), and the Democratic Republic of Congo (6.2%).

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The decline in imports contributed to a narrowing of Namibia’s trade deficit, which improved to N$2.0 billion in February from N$2.7 billion in January. This marks a significant recovery from the N$3.9 billion deficit recorded in February 2024, reflecting stronger export performance over the past year.

Cumulative exports for the first two months of 2025 reached N$20.8 billion, up 17.5% year-on-year, driven by robust demand for uranium, non-monetary gold, and fish. However, February’s export earnings of N$10.1 billion represented a 5.1% monthly decline, signalling potential headwinds for Namibia’s export-reliant economy.