Third quarter 2018 trade statistics – Value of domestically produced exports increased further
The Namibia Statistics Agency (NSA) has released the trade statistics for the third quarter 2018 on 13 December 2018. The trade statistics refer to trade in goods only and exclude the trade in services. Namibia usually achieves a surplus in the trade of services. Herewith a few highlights: The value of exports increased by 2.1% […]
Fuel price decrease should not result in complacency
THE Economic Association of Namibia has cautioned consumers, oil producers and policymakers not to become complacent because oil prices are decreasing. Instead, they should continue embarking on more fuel-efficient transport, production equipment, and further move to electrical vehicles and equipment. The EAN’s analysis comes after the mines and energy ministry on Friday announced that fuel […]
Any New Year’s resolutions?
Another challenging year is coming to an end. However, not all is doom and gloom. The year has provided many example that with some more efforts it is possible to exploit existing opportunities. Private sector companies have demonstrated that it is possible to increase local procurement and extend value chains through efforts to identify Namibian […]
Fuel price decrease December 2018 – An early Christmas present
The Ministry of Mines and Energy (MME) announced on 30 November 2018 a fuel price decrease of NAD1.00 per litre for petrol and NAD0.40 per litre for diesel countrywide with effect of 5 December 2018 midnight. A brief analysis: Increased global oil supply mainly by OPEC and shale oil producers in the USA coupled with […]
Unemployment benefits could smoothen economic downturns
The current economic downturn is caused by domestic, regional and global factors. Lower global demand for some of our minerals and consequently lower prices in USD, the oil price crash resulting in the crash of the Angolan demand for our goods and services and the recent price hike that affects production costs and the cost […]
October 2018 inflation rate – transport inflation pushes up overall inflation
The Namibia Statistics Agency has released the Consumer Price Index (CPI) for October 2018 on 15 November 2018. The CPI is being used to calculate the month-on-month (compared to the previous month) and year-on-year (compared to the same month in the previous year) inflation rates. The annual inflation rate rose from 4.8% in September 2018 […]
Strengthen regional cooperation to stimulate economy
After the financial and then economic crisis in 2008, Governments and Central Banks of some developed countries have tried to coordinate policy responses in order to avoid a further downfall of the global economy. It had helped stabilizing the economies, even though the cooperation was rather short-lived and limited in extent. However, there were hardly […]
Fuel price increase November 2018 – The upward trend continues
The Ministry of Mines and Energy (MME) announced on 5 November 2018 a fuel price increase of NAD0.50 per litre for petrol and NAD0.70 per litre for diesel countrywide with effect of 7 November 2018 midnight. According to the MME statement, the price of refined petrol and of refined diesel remained stable compared to September […]
Mid-year Budget Review – Fiscal consolidation on course despite economic headwinds
The Minister of Finance presented the fourth Mid-year Budget Review on 24 October 2018. The review serves two purposes, namely to propose internal re-allocation of approved funds and to provide some first hints about the next Medium-term Expenditure Framework. It is not a proposal for the allocation of additional funds. Herewith a few highlights. Revenue […]
Private sector credit extension September 2018 – demand by businesses remains strong
The Bank of Namibia has released selected statistical data for September 2018 that cover among others the extension of credit to the private sector (PSCE). Herewith some of the highlights: Total credit extended to the private sector rose by 7.3% compared to September 2017- the fastest pace on an annual basis since May 2017 –to […]