Namibia’s Deficit Widens to N$11,4 Billion in First Quarter

Namibia’s current account deficit widened to N$11,4 billion during the first quarter of this year.

This is up from N$8 billion recorded a year earlier, official figures show.

This means the country imports a lot more than it exports, compared to previous years.

According to the Bank of Namibia’s June 2024 Quarterly Bulletin, this is primarily due to a decline in the merchandise trade balance and services account.

The report also attributes the decline to the government’s repayment of domestic…