Fish exports surge to N$1.2 billion in August

October 10, 2023

Namibia's fish and aquatic exports, including fish, crustaceans, molluscs, and other aquatic invertebrates, reached a total value of N$1.2 billion in August with the majority of exports destined for Spain.

The Namibia Statistics Agency (NSA) reports that the N$1.2 billion includes N$14.3 million from re-exports, while imports of the same commodities amounted to N$45.5 million during the same month.

According to the data, fish and aquatic exports reached the highest value of N$1.6 billion in June 2023 and the lowest at N$695.8 million was recorded in November 2022.

According to the Namibia Merchandise Trade Statistics Bulletin for August 2023, the country imported N$45.5 million worth of fish, crustaceans, molluscs, and other aquatic invertebrates in August 2023, with a significant portion coming from South Africa.

During the second quarter of 2023, Namibia's fishing industry experienced remarkable growth, with exports reaching N$4.1 billion compared to N$3.2 billion during the same period the previous year.

Statistical data from the NSA, as provided by CEO Alex Shimuafeni, revealed that Spain was the top destination for fish and aquatic exports, accounting for 36.6% of the share, primarily driven by frozen hake fillets.

The Democratic Republic of Congo followed in second place, with a 15.4% share, mainly consisting of frozen mackerel. Zambia secured the third position with a 14.3% share, primarily comprising horse mackerel.

Regarding imports, the value of fish and aquatic products during the second quarter of 2023 amounted to N$173.3 million, showing a decrease from the N$274.1 million recorded in the second quarter of 2022.

"The majority of these imports originated from the Falkland Islands, making up 65.8% of the total share, primarily consisting of frozen cuttlefish and squid," stated the bulletin.

South Africa followed with a 20.2% share, primarily comprising hake, while Spain secured a 4.5% share, mainly consisting of sardines.

During the second quarter of 2023, a surplus of N$4 billion was achieved in the fish and aquatic products sector, marking a significant improvement compared to the N$2.9 billion recorded in the previous quarter of 2022.

Meanwhile, for the month of August, petroleum oils topped the list of imported goods, with a share of 22.1% of the total import value.

In second and third position were motor vehicles for the transport of goods and vessels with shares of 3.9% and 3.6%, respectively.

Rotating electric plant and parts and civil engineering and contractors' equipment were ranked fourth and fifth in the list accounting for 3.5% and 3.1% of total imports, respectively.



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Last modified on Tuesday, 10 October 2023 23:53

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