Diamonds and fish contributed 21.7% and 16.9% respectively to the country's exports during the month of April 2023, contributing to the improvement in Namibia's trade balance compared to the previous month.

Namibia’s beef exports declined 8% to 881,535kg during the month of April 2023 from 958,221kg recorded in the prior month attributed to an increase in local consumption.

The Namibian Ports Authority handled 7,691,781 tonnes of cargo during the year ended 31 March 2023, a record-breaking amount from prior years.

Namibia's trade deficit increased to N$2.2 billion in March this year as exports and imports amounted to N$10.2 billion and N$12.4 billion respectively, latest trade statistics reveal.

The Namibia Statistics Agency reported a 26.3% increase in exports from the prior month's value, with Statistician-General Alex Shimuafeni stating that exports rose by 15.3% from N$8.9 billion registered in March 2022.

However, the country's trade balance remained in a deficit, worsening by N$1.8 billion (month-on-month) and N$1.7 billion (year-on-year) from N$453 million recorded in February 2023 and N$539 million recorded in March 2022.

"Namibia’s trade improved when compared to the month of February 2023. However, certain goods contributed more to the monthly deficit with Petroleum oils recording an import bill of N$2.2 billion and a deficit of N$1.7 billion, in second place was ‘Copper ores and concentrates’ with a deficit of N$1.5 billion.

Namibia is set to host Finland President Sauli Niinistö, who will lead a business delegation to the country as part of a state visit from April 27 to 28, 2023.