2025 National Trade Accounts
Namibia’s trade deficit narrowed meaningfully from N$64.7 billion in 2024 to N$51.9 billion in 2025.
This improvement came from both sides simultaneously as exports grew strongly while imports contracted.
Total exports of goods and services reached N$120.5 billion in nominal terms, up N$17.9 billion from 2024. In real terms, this was an 11.8% increase, reversing a 0.6% contraction recorded in 2024.
The primary driver was metal ores, including uranium, which benefited directly from the 27% production increase in uranium mining and carried much of Namibia’s export performance.
Diamond exports, however, fell sharply as the diamond mining industry contracted by 19.4% as demand for natural diamonds continues to gradually decline.
Exports as a percentage of gross domestic product increased from 41% to 45% in 2025.
On the other hand, total imports of goods and services amounted to N$172.4 billion in nominal terms, slightly up from N$167.4 billion in 2024, but declining by 3.7% in real terms, notably reversing from the 8.7% real growth in 2024.
The main driver of the real decline was refined petroleum products, which is the single largest commodity imported but has benefited mainly from lower global oil prices.
Other large import categories by value included machinery and equipment, vehicles and other transport equipment, chemicals and plastics, and food products.
The import structure was consumption and investment-driven, and the decline in Namibia’s gross fixed capital formation (down 8.3%) is also directly reflected in this import data as much of Namibia’s capital equipment is sourced externally, and the slowdown in oil and gas exploration investment would have supressed imports of specialised equipment and services.
– Tannan Groenewald is the head of data and analytics at Cirrus.
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