BRICS Countries ranked Namibia’s third largest market

Four members of the BRICS bloc, Brazil, Russia, India and China were ranked the third largest market for the Namibian domestic economy, according to Namibia’s statistics agency (NSA).

Every year BRICS countries are the largest market (excluding South Africa) according to the NSA quarterly statistics bulletin for the second quarter of 2018. There has been an increase in the absorption of domestic exports by members of the BRICS bloc, the countries have registered 209.4 million US dollars as compared to 36,6 million US million in the second quarter last year. There has been an increase of 472 percent.

The European Union (EU) in trade by regions is the highest once more in comparison to other economic regions. According to Xinhuanet the Southern Africa Customs Union (SACU) was Namibia’s largest export market.

 

Source: Xinhuanet

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