Namibia: Fish the Only Product With a Diversified Market

Published 2020년 9월 17일

Tridge summary

Namibia's fish exports are leading its top five export products, with Spain being the primary market, but there is growing interest from African countries. The sector is diversifying, potentially reducing Namibia's reliance on Spain for foreign reserves and income. However, the country's export market has not significantly changed, with four countries absorbing 77.7% of exports. There was a 20.2% decline in fish exports in July 2020, compared to June 2020, but the government is unsure if all proceeds from an auction of fish were received. Beef exports are not among the top five products, due to drought and high livestock farming costs.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

THE latest trade statistics put fish exports at the top of the country's competitive products, being send to at least 10 countries around the world. This is an achievement no other Namibian product in the top five exports in volume has achieved, according to the latest trade statistics for July 2020, compiled by the Namibia Statistics Agency (NSA). Apart from being the only non-mineral product in the top five exports for many years now, the sector is slowly expanding its market from Spain - which in July accounted for 50,3% of Namibian fish. Spain has been enjoying the bulk of Namibian fish since the statistics can go back in time, but a new trend is emerging with African countries showing a bigger appetite for Namibia's horse mackerel (maasbanker). "Fish primarily destined to Spain, Zambia, South Africa and DRC claimed third position with an 11,7% contribution to total exports," said the NSA. The diversified market shows competitiveness of the country's boxed fish and gives the ...

Source: All Africa