Namibias key trading partners remain its neighbours: South Africa, Botswana and Zambia. Together, the three account for about 43 of exports and 35 of imports. South Africa is historically the biggest trade partner. Trade statistics show that over the past five years 2021 to 2025, South Africa has accounted for an estimated 36 to 43 of imports and 14 to 22 of exports annually, driven by commodities such as diamonds, gold, petroleum oils, copper and vehicles. Joint membership of the Southern African Customs Union SACU and a shared border smooth the flow between Namibia and its neighbours. In second place is China, which accounted for 17 of exports in 2024 mainly uranium and copper. Third was Botswana on 15 diamonds and petroleum, followed by Zambia fish and copper. In 2025, some 42 of Namibias export deals were with countries inside the African Continental Free Trade Agreement AfCFTA, and 47 percent of imports were from AfCFTA countries, according to the Namibia Statistics Agency NSA. Namibias total exports grew from about R103 billion in 2023 to R119 bn in 2024 and R126 bn in 2025, while imports rose to R162 bn in 2024 before declining slightly. In 2025, the country exported goods to about 106 markets, and imported goods from 160 countries around the world, according to the NSA. Mining contributes roughly 12.5 to the countrys gross domestic product GDP and more than 50 of foreign exchange earnings. In 2024, Namibias leading exports were diamonds R19 bn, uranium and thorium ore R18.4 bn, radioactive chemicals R14 bn, gold R13.5 bn, and non-fillet frozen fish R6.5 bn. The top destinations were China R31 bn, South Africa R22 bn, Botswana R16.5 bn, Belgium R12 bn and Zambia R8.6 bn, according to the Observatory of Economic Complexity. In 2024, Namibia was the worlds largest exporter of uranium and thorium ore. The World Bank estimates that foreign trade represented 110 of the countrys GDP in 2023. According to a Lloyds Bank report, foreign trade exports and imports exceeds 100 of Namibias GDP because GDP measures value added within borders, while trade measures total value passing through, often driven by high-volume mining exports and a reliance on imports. Despite the growth in exports, the country faces a structural trade deficit. The trade balance averaged -23.52 of GDP in 2023, largely due to high imports of manufactured goods and machinery compared to primary commodity exports, states the Lloyds report. While the economy is largely open, it adds, and customs duties are low, but some trade barriers remain, including a number of import and export restrictions, mostly on agricultural products. ER
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