By: Nghiinomenwa-vali Hangala
China and France have paid N$3.4 billion for the uranium produced in Namibia during the month of August 2026.
This is according to the August 2026 trade statistics compiled by the Namibia Statistics Agency (NSA).
The two countries, along with Canada and the USA, are some of the frequent buyers of Namibian uranium.
For July 2026, half a billion (N$625 million) worth of raw uranium was bought by China.
China and France are some of the countries with the biggest fleets of nuclear reactors producing electricity for their countries. They are also among a select group of countries with nuclear weapon programmes.
Despite Namibia’s uranium reserves, which are a source for nuclear energy, Namibia is contemplating pursuing a nuclear value chain development, including electricity.
However, plans are yet to be made, as division of views keeps rising on whether the country has the capacity to develop a nuclear energy sector.
Namibia has, however, drafted its Nuclear Bill to kickstart its applications for an atomic/nuclear value chain involving available radiation/nuclear/atomic energy and usable for social and economic development.
Uranium was Namibia’s leading export commodity in August 2026, contributing 26.5% to the total export earnings, with most shipments destined for France and China.
Non-monetary gold ranked second, accounting for 11.9% of total exports and was exported exclusively to South Africa.
Precious stones (diamonds) occupied the third position, representing 11.5% of total exports, with Botswana, the United Arab Emirates, and Belgium serving as the principal destinations.
Fish was the fourth-largest export commodity, contributing 10.2% to total exports and finding its main markets in Spain, Zambia, and South Africa.
Together, these commodities constituted a substantial share of Namibia’s export basket during the month under review.
According to the NSA, the composition of Namibia’s top traded commodities highlights a strong reliance on mineral and fish exports, particularly uranium, non-monetary gold, diamonds, and fish, which remain key sources of export earnings.
On the import side, petroleum oils, commercial motor vehicles, and mechanical equipment dominated, reflecting the country’s dependence on foreign-produced industrial and energy-related goods.
The statistics agency has continuously called for deepening of the country’s manufacturing base to reduce the reliance on resource-based exports that continue to drive trade performance.
Saying that “the trade structure underscores the need for greater industrialization and export diversification to reduce import dependency and strengthen economic resilience against unpredictable external shocks and commodity price fluctuations.”
