Mining dominates Namibia’s earnings: statistics

WINDHOEK, June 18  — Namibia earned close to N$13 billion in the second quarter of this year thanks to dominance by mining products including copper, precious metals and ores, the latest Gross Domestic Product (GDP) figures show on Tuesday.

According to the data released by the Namibian Statistics Agency (NSA), Namibia earned 5.516 billion Namibian dollars from copper exports, 4.813 billion Namibian dollars from precious stones dominated by diamonds as well as 3.416 billion Namibian dollars from ores.

The statistics show that Namibia by far continues to rely on export of mining products for the bulk of its foreign currency earnings.

The NSA statistics showed that Namibia actually earned 78 percent of its foreign currency earnings for the quarter ending May 2019 from mineral exports.

“The increase in foreign earnings was driven by major demand of our top four out of five export products. However there was also a significant improvement in other export products outside the mining sector which contributed the growth,” NSA said. – XINHUA