Latest news with #NamibiaStatisticsAgency
The Star
03-07-2025
- Business
- The Star
Namibia posts first-in-13-month trade surplus in May
WINDHOEK, July 3 (Xinhua) -- Namibia recorded a trade surplus of 121 million Namibian dollars (about 6.9 million U.S. dollars) in May 2025, driven by a sharp increase in uranium exports, the Namibia Statistics Agency (NSA) reported on Thursday. Exports rose by 7.3 percent from April to 11.8 billion Namibian dollars, while imports declined by 9.1 percent to 11.7 billion Namibian dollars, an improvement from the revised trade deficit of 1.8 billion Namibian dollars recorded in April, Statistician General Alex Shimuafeni said in the report. According to the report, China emerged as Namibia's leading export destination, accounting for 24.5 percent of all goods exported during the month. Uranium, which accounted for 29.3 percent of total exports, was the largest contributor to the export basket and was mainly shipped to China, while other major exports included non-monetary gold, fish, diamonds, and copper, the report stated. On the import side, petroleum oils, nickel ores, base metal concentrates, and industrial machinery were among the top commodities. The NSA noted that the May surplus was the only monthly trade surplus recorded over the past 13 months, as the country continues to experience structural trade deficits due to high import dependency, particularly for manufactured goods. Meanwhile, South Africa remained Namibia's primary source of imports, accounting for 38.7 percent of inbound trade. The NSA report also indicated that 44.9 percent of Namibia's exports in May went to African countries, while 49.0 percent of imports came from the continent.
The Star
12-06-2025
- Business
- The Star
Namibia records sharp rise in food prices despite easing overall inflation
WINDHOEK, June 12 (Xinhua) -- Namibia's food prices continued to rise sharply in May even as the country's overall inflation rate eased, according to the latest Consumer Price Index (CPI) bulletin released Thursday by the Namibia Statistics Agency (NSA). The report said Namibia's annual headline inflation rate stood at 3.5 percent in May, down from 4.9 percent recorded in the same month last year. However, the cost of food and non-alcoholic beverages increased by 5.8 percent year on year, making it one of the main contributors to the overall inflation figure. The price of fruits rose by 15.5 percent, with notable increases in the prices of watermelons, citrus fruits, and avocados, the report stated, adding that meat prices went up by 8.8 percent, driven by higher costs for beef, lamb, minced meat, and biltong. Oils and fats saw a 9.1 percent increase, largely due to rising prices of cooking oil and cooking fats, it added. Other food items that registered notable increases include fish, which rose by 9.1 percent, and vegetables, which increased by 7.7 percent compared to the same period last year. Meanwhile, the report noted that transport costs declined by 1.3 percent year on year in May 2025, largely due to falling fuel prices. The price of petrol and diesel fell by 7.8 percent compared to the previous year, providing some relief to overall inflationary pressures. According to the NSA, food, housing, transport, and alcoholic beverages remain the largest components of Namibia's inflation basket, collectively accounting for over 70 percent of household expenditure.
The Star
24-04-2025
- Business
- The Star
Namibia to offer free university education from 2026, says president
WINDHOEK, April 24 (Xinhua) -- Namibian President Netumbo Nandi-Ndaitwah on Thursday said the country will provide free university education starting in 2026, as part of broader efforts to empower the youth and address unemployment. Delivering her first State of the Nation Address (SONA), Nandi-Ndaitwah said the government will cover 100 percent of registration and tuition fees at all public universities and vocational training centers from 2026. "While tertiary education in Namibia is already significantly subsidized, I am pleased to announce that from the next academic year, commencing 2026, tertiary education will become 100 percent subsidized by the government," she said. The president also unveiled a 257 million Namibian dollars (about 13.7 million U.S. dollars) fund for targeted support to youth-owned informal and micro businesses. Youth unemployment in Namibia stands at 44.4 percent, according to the Namibia Statistics Agency. Nandi-Ndaitwah said addressing unemployment remains one of the top priorities of the eighth administration. A national youth internship and apprenticeship program will be rolled out this year to give young people work experience in both the public and private sectors. Nandi-Ndaitwah also announced that 10,000 low-cost residential units will be built annually to address the country's housing backlog and improve living conditions in informal settlements. Namibia will begin discussions this year on the development of a nuclear energy plant, she said, adding that the oil and gas sector has been moved under the Presidency to accelerate first oil production and support infrastructure development. Thursday's SONA marked the first by Nandi-Ndaitwah since she assumed office as the country's fifth president in March.
