Trade (50)

Namibia recorded a trade deficit of N$3.3 billion during the month of September compared to N$4.9 billion and N$2.6 billion recorded in August 2023 and September 2022, respectively, latest data reveals. 

Namibia has lost an excess of N$4 billion over a three-year period due to undeclared trade transactions, latest data reveals.

President Hage Geingob told Heads of Mission to look for new opportunities to grow trade, attract investment and find markets for Namibian products in their countries of accreditation as they continue to build and sustain Namibia’s relations internationally.

Namibia plans to introduce new investment incentives and Special Economic Zones in 2024 to fast-track economic growth.

The European Union-Namibia Business Forum, which is set for 24 to 25 October in Brussels, Belgium, is geared to promote growth in Namibia's green economy and attract European foreign direct investment (FDI).

Namibia and South Africa have agreed to establish the Namibia-South Africa Business Council to serve as a Public-Private Sector Platform to coordinate efforts aimed at improving business relations between the two countries.

Namibia’s trade deficit widened by 17% during the month of August to N$4.9 billion compared to N$3.7 billion and N$4.1 billion recorded in July 2023 and August 2022, respectively, latest data reveals. 

Namibia is one position up on the Standard Bank Africa Trade Barometer (SB ATB) index, which compares enablers and challenges to facilitating trade across 10 markets in sub-Saharan Africa.

The Tyre Import Association of South Africa (Tiasa) has raised concerns over the alleged failure of Namibia to implement the Southern Africa Customs Union (SACU) regulations related to recent anti-dumping duties on tyres. 

The Namibia Investment Promotion and Development Board (NIPDB) is set to promote investment opportunities in Namibia on the margins of the United Nations General Assembly summit underway in the United States of America (USA) to boost the inflow of foreign direct investment (FDI).

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