EPZ dominated Nam’s exports in second quarter

TRADE flow between Namibia and the Export Processing Zone was mostly dominated by exports which stood at N$1,8 billion during the second quarter of 2018, the Namibia Statistics Agency says.

According to the NSA’s quarterly trade statistics bulletin for the second quarter of 2018 released last Thursday, exports to the EPZ grew by 47% from N$1,2 billion in the first quarter of 2018.

The growth was attributed mostly to diamonds, jewellery and precious stones, which accounted for 96%; and mineral ore and concentrates, which accounted for 4% of the remaining total overall exports to the EPZ.

The annual increase in Namibia’s exports was largely driven by increases in vessels, copper cathodes as well as fish exports, the bulletin said.

The value of re-exported vessels grew by N$5,1 billion over the year to register N$5,4 billion as a result of a once-off shipment of vessels to the United Kingdom.

The country further recorded a significant increase of N$3,2 billion in the value of copper cathodes exported over the same period, registering N$4,07 billion, which was driven by increased exports to China and Belgium.

Fish exports were a major revenue earner for the domestic economy, recording a strong quarter-to-quarter growth. These exports recorded an upsurge in exports to Spain and the Democratic Republic of Congo, registering N$2,5 billion during the second quarter of 2018 from N$2,2 billion in quarter two of 2017.

Namibia exported most commodities by sea, which emerged as the most used means of transport by traders, accounting for 62% share to total export, followed by air with 21% and road with 16% of total exports, the report said.

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