01Key Takeaways
- Namibia exported $5.53 billion worth of goods in 2023, down 5.18% from $5.83 billion in 2022.
- Diamonds dominated the export mix at 35.00% ($1.93 billion), more than the next two categories combined.
- Uranium ore exports (16.62%, $918 million) flow largely toward China, while fish exports (14.33%, $792 million) lean heavily on Spain.
- South Africa and Botswana were Namibia's two largest markets, together buying nearly 40% of exports, much of it moving through the port of Walvis Bay that also serves as a gateway for landlocked neighbors.
025-Year Trend
| Year | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Value | $4.7B | $3.9B | $4.4B | $5.8B | $5.5B |
03Top Export Markets (2023)
| Rank | Partner | Value | Share |
|---|---|---|---|
| 1 | South Africa | $1.1B | 19.8% |
| 2 | Botswana | $1.1B | 19.2% |
| 3 | China | $678.6M | 12.3% |
| 4 | Zambia | $488.2M | 8.8% |
| 5 | Belgium | $290.9M | 5.3% |
| 6 | Spain | $279.1M | 5.1% |
| 7 | United Arab Emirates | $232.7M | 4.2% |
| 8 | Netherlands | $199.8M | 3.6% |
| 9 | Congo - Kinshasa | $195.2M | 3.5% |
| 10 | France | $149.2M | 2.7% |
04Top Export Categories (2023)
| Rank | Category | Value | Share |
|---|---|---|---|
| 1 | Natural or Cultured Pearls, Precious or Semi-Precious Stones, Precious Metals, Metals Clad with Precious Metal, and Articles thereof; Imitation Jewellery; Coin | $1.9B | 35.0% |
| 2 | Ores, Slag and Ash | $918.4M | 16.6% |
| 3 | Fish and Crustaceans, Molluscs and other Aquatic Invertebrates | $792.1M | 14.3% |
| 4 | Mineral Fuels, Mineral Oils and Products of their Distillation; Bituminous Substances; Mineral Waxes | $314.0M | 5.7% |
| 5 | Copper and Articles thereof | $255.4M | 4.6% |
| 6 | Salt; Sulphur; Earths and Stone; Plastering Materials, Lime and Cement | $130.2M | 2.4% |
| 7 | Live Animals | $104.7M | 1.9% |
| 8 | Nuclear Reactors, Boilers, Machinery and Mechanical Appliances; Parts thereof | $103.7M | 1.9% |
| 9 | Vehicles other than Railway or Tramway Rolling-Stock, and parts and accessories thereof | $86.4M | 1.6% |
| 10 | Meat and Edible Meat Offal | $84.3M | 1.5% |
05Trade Partner Map
06Analysis
Diamonds Alone Make Up More Than a Third of Namibia's Exports
Namibia exported $5.53 billion worth of goods in 2023, down 5.18% from $5.83 billion in 2022. Precious stones led every category by a wide margin, at 35.00% of the total, worth $1.93 billion. Diamonds have made up more than a quarter of Namibia's merchandise exports every year since 2013, with Namdeb Holdings, a joint venture split evenly between the Namibian government and De Beers, dominating production. Namdeb's offshore arm, Debmarine Namibia, produced 73% of the group's output in 2024 by dredging diamonds from the seabed rather than digging them out of the ground. That marine mining model is unusual worldwide and has become central to Namibia's export economy, since it lets the country keep producing high-value stones even as many land-based diamond deposits elsewhere in Africa age and deplete.
Belgium supplied one of the clearest destinations for that trade, buying 5.26% of Namibia's exports, worth $291 million. Antwerp functions as a global center for the trade of rough diamonds, home to more than 1,350 diamond companies. Rough stones mined off Namibia's coast frequently travel to Antwerp for cutting, polishing and certification before reaching final buyers elsewhere, a pattern common among diamond-producing nations that lack a large-scale cutting industry of their own.
Uranium Flows Toward China While Fish Head to Spain
Ores, slag and ash supplied 16.62% of exports, worth $918 million, Namibia's second-largest category. This is driven mainly by uranium, mined from deposits including the Husab mine. Husab is majority linked to China General Nuclear through Swakop Uranium, and supplies most of its output to China, with only a small share sold elsewhere. China ranked third among Namibia's export partners overall at 12.28% ($679 million), a relationship built substantially on this uranium trade feeding China's nuclear power buildout.
Fish and crustaceans added 14.33% of exports, worth $792 million, Namibia's third-largest category, pulled from the cold, nutrient-rich Benguela Current off the country's Atlantic coast. Spain is the primary destination for Namibia's fish exports, absorbing more than a third of the total, driven mainly by demand for frozen hake fillets in European markets. Spain ranked sixth among Namibia's export partners at 5.05% ($279 million), a relationship built heavily around that single fish species. Mineral fuels supplied a further 5.68% ($314 million), and copper added 4.62% ($255 million). Salt, sulphur and cement-related materials rounded out a further 2.36% ($130 million), drawn largely from solar salt works along the same coastline that produces Namibia's fish and marine diamonds. Live animals contributed 1.90% ($105 million), and meat added 1.52% ($84 million), together reflecting Namibia's cattle and livestock export trade to neighboring markets. Machinery supplied 1.88% ($104 million), and vehicles added 1.56% ($86 million), both fairly modest categories next to the minerals and seafood that otherwise dominate this entire export list.
Landlocked Neighbors Rely on Namibia's Port to Reach the Sea
South Africa bought 19.83% of Namibia's exports in 2023, worth $1.10 billion, narrowly ahead of Botswana at 19.23% ($1.06 billion). Those top two buyers alone accounted for nearly 40% of everything Namibia sold abroad. Botswana's position so high on this list is unusual for a landlocked country that produces little Namibia would typically need to import. That ranking points to something other than direct consumer demand driving the trade. Walvis Bay serves as a trade gateway offering reduced transit times for land-linked countries including Botswana, Zambia, the Democratic Republic of Congo and Zimbabwe. Zambia (8.83%, $488 million) and the Democratic Republic of Congo (3.53%, $195 million) show that same pattern, both landlocked and both appearing high on Namibia's partner list largely because goods move through the port of Walvis Bay on their way to these markets.
The United Arab Emirates supplied 4.21% ($233 million), and the Netherlands added 3.62% ($200 million). France rounded out the top ten at 2.70% ($149 million). Together, South Africa, Botswana and China made up 51.34% of total export value. Export totals climbed unevenly over the past five years. The total fell from $4.74 billion in 2019 to $3.87 billion in 2020 as the pandemic disrupted global trade. It then recovered to $4.42 billion in 2021, before jumping to $5.83 billion in 2022, the high point of the period. That growth eased back to $5.53 billion in 2023, still well above where the total stood before the pandemic, even after the recent pullback.