By: Peneyambeko Jonas
As much as value addition and industrialisation conversations dominate national conversation and documentation, trade statistics show the same picture of raw mineral domination.
Namibia trade statistics show that the country continues to earn much of its export income from minerals and fish while importing for fuel, industrial inputs, and vehicles.
Highlighting the country’s need to expand local production and deepening/lengthening the value chain- from underground/harvesting to factories.
Namibia Statistics Agency (NSA) trade figures for July 2026 show that non-monetary gold was the country’s largest export, accounting for 17.9% of total exports.
Fish followed at 14%, diamonds at 13.8%, nickel ores and concentrates at 6%, and uranium at 5.9%.
Together, the five commodities accounted for 57.5% of exports.
The figures show the importance and dominance of the mining sector and fisheries to the economy in terms of export revenue (reserves), but also expose Namibia’s limited diversification.
The country imported mainly petroleum oils, which accounted for 16.8% of total imports, followed by nickel ores and concentrates at 5.3%, sulphur and unroasted iron pyrites at 4%, commercial vehicles at 3.8%, and passenger vehicles at 2.8%.
The country’s fuel import vulnerability has also been exposed, as it depends on Middle East-dependent refineries and is affected by the Strait of Hormuz issues as a result of America’s coercive strategies.
Highlighting the country’s core issue that analysts have been highlighting is not only how much Namibia trades, but how much value is created locally before products enter international markets.
Economist Robin Sherbourne has linked export diversification to employment and economic stability.
“Export diversification increases local value addition, economic growth and employment creation and reduces vulnerability to sector-specific shocks,” Sherbourne said.
His argument is particularly relevant to Namibia, where mining remains capital-intensive while other sectors have greater potential to absorb labour.
Economist Nghiinomenwa-vali Hangala has also warned that Namibia needs to develop local skills alongside investment in its natural resources.
“If we fail to build local expertise, foreign companies will continue to discover our resources, extract value from them and sell finished products back to us while we remain consumers,” Hangala said.
Their concern is visible in the trade figures.
Namibia exported gold, diamonds, uranium and nickel-related products, but continues to import a range of manufactured and industrial goods.
President Netumbo Nandi-Ndaitwah has made value addition part of the government’s industrialisation agenda.
Speaking at the opening of production at the HyIron Oshivela plant, she said, “From raw material exports to local value-added production, Namibia will generate six to eight times more economic value.”
The President’s position points to the potential economic gains from processing minerals and other resources before export.
Local financial research firm Simonis Storm estimates that Namibia has about N$14.5 billion in potential manufacturing and value-addition opportunities.
Its assessment identified 353 products across 23 sectors that could potentially be produced locally, including opportunities linked to machinery, metals, electrical equipment and food processing.
Industrialisation Minister Lucia Iipumbu has similarly stressed the need for Namibia to derive greater economic benefits from its natural resources through local processing and manufacturing.
The country also re-exported goods worth N$3.4 billion in July.
Re-export is importing and holding goods temporarily for exporting them, given Namibia’s role in regional logistics.
Nickel ores and concentrates accounted for 18.5% of re-exports, followed by petroleum oils at 16.6%, sulphur and unroasted iron pyrites at 14.5%, other crude minerals at 6.8%, and fertilisers at 5.8%. Re-exports declined by 10.5% from June and 3.6% year-on-year.
It has been noted that the economic importance of value addition lies in what it can create locally: jobs, businesses, industrial skills and markets for Namibian suppliers.
Namibia therefore currently faces an economic choice.
Maintaining the status quo where natural resources generate export income, with limited local processing, or enabling the country to retain more of the value by lengthening the value beyond extracting or harvesting for export.
The country’s 5-year development plan has set various ambitious plans to boost value chains; however, practical actions are yet to be devised and implemented.
The July trade figures show the trading patterns and the country’s economic structure over the years.
penny@eaglefm.com.na
