Namibia Trade Gap Widens to US$284 Million

NAMIBIA · TRADE

Namibia imported 4.7 billion Namibia dollars (N$4.7 billion, about US$284 million) more than it exported in September 2026, a wider gap than the N$3.9 billion (US$236 million) of August. The Namibia Statistics Agency, the government’s data office, put exports at N$12.2 billion (US$738 million) and imports at N$16.9 billion (US$1.02 billion).

Uranium, sold in September entirely to China, led the export bill. For US readers, the figures show how far a small, mining-led economy still leans on one mineral and one big buyer.

Conversions in this article use about 16.53 Namibia dollars per US dollar, the rate on 11 November 2026. The Namibia dollar is pegged one for one to South Africa’s rand, meaning it is fixed at the same value.

What the Numbers Show

Mining, including quarrying, earned N$6.2 billion (US$375 million), more than half of all exports, though N$266 million (US$16 million) less than in August. Uranium led at N$3.4 billion, followed by non-monetary gold, gold traded as a commodity rather than held in reserves, at N$1.4 billion (US$85 million), all of it shipped to South Africa.

Nickel ores and concentrates earned N$736 million (US$45 million) in exports and other base metal ores N$709 million (US$43 million). Fish trade left a surplus of N$1.0 billion (US$61 million).

Namibia ran a N$2.4 billion (US$145 million) surplus with China, helped by uranium sales. That is large next to the overall gap of N$4.7 billion (US$284 million).

Imports of N$16.9 billion (US$1.02 billion) were more than a third above exports. The N$4.7 billion gap equals about 28% of imports.

Why the Gap Matters

A wider gap means Namibia has to find more foreign currency to pay for fuel, machinery and food. Because its dollar is tied to the rand, it has less room to use its own currency to ease the pressure.

Uranium alone supplied 27.7% of September’s exports and went to a single buyer, so one delayed shipment or price swing can move the monthly balance quickly. Our earlier reports on Namibia’s uranium exports and October inflation show the same dependence on mining and imports.

What Happens Next

The September figures reached the public by 10 November 2026, about six weeks after the month ended. On that pattern, the October figures could arrive around mid-December.

Watch whether uranium sales to China stay above N$3 billion (US$181 million) a month and whether imports hold near N$17 billion (US$1.03 billion). Background on who steers the economy is in our guide to Namibia’s economic players.

What It Means for You

Investors in listed uranium and base-metal miners with Namibian mines can read the monthly data as a check on how much revenue depends on mineral prices and on China. Visitors paying in US dollars received roughly N$16.5 for each dollar on 11 November, a rate that follows the rand.

What Is Not Known

We could not open the September bulletin itself on the agency’s website, so the figures rest on two reports of its release that agree. The reports we read do not say whether the wider gap reflects one-off purchases of fuel or equipment.

Further reporting is on our Namibia news page. It carries our daily coverage of the country.

Frequently Asked Questions

How big was Namibia’s trade deficit in September 2026?

The deficit was N$4.7 billion, about US$284 million, up from N$3.9 billion in August. Exports were N$12.2 billion and imports N$16.9 billion.

What does Namibia export most?

Mining products, led by uranium at N$3.4 billion in September, or 27.7% of exports. All of the uranium went to China.

Which country buys Namibia’s uranium?

China took all of Namibia’s uranium exports in September, worth N$3.4 billion (US$206 million). Namibia ran a N$2.4 billion surplus with China.

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