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Nova 1035
Port of Walvis Bay
The trade sector swung dramatically into positive territory in May, posting a surplus of N$121 million, the first surplus in nearly five years and a strong reversal from April’s N$1.8 billion deficit. Simonis Storm Economist Almandro Jansen attributes this turnaround to a sharp rebound in mining exports coupled with subdued fuel imports, a combo he says indicates increasing stability in the country’s external trade.
Trade surplus signals turnaround for local economy
Tonata Kadhila
According to Jansen, strong global commodity demand, especially for diamonds, uranium, base metals, and copper, has helped bolster export earnings. He also warned, however, that global economic headwinds like fragile global trade and rising US tariffs could threaten the nascent recovery.
Namport’s container terminal and upgraded port facilities in Walvis Bay are playing a supporting role. The expanded capacity has not only boosted throughput but also strengthened Namibia’s logistics infrastructure, making it more attractive for global trade
| Key Factor | Impact |
|---|---|
| Mining Exports Surge | Diamonds, uranium, copper, and China buying nearly 30% of exports |
| Lower Fuel Imports | Fell in line with improved energy efficiency and lower oil prices |
| Port Expansion | Walvis Bay terminal upgrades double container capacity |
The post Trade surplus signals turnaround for local economy first appeared on Future Media News.
The post Trade surplus signals turnaround for local economy appeared first on Future Media News.
